Space tourism set for takeoff

Galactic
Richard Branson (L) shares a laugh with Pilot Pete Siebold (R) during pre flight training to fly Virgin Mother Ship Eve, White Knight Two, at Wittman Field, site of the Experimental Aircraft Association Convention in Oshkosh, Wisconsin July 27, 2009. Eve is designed to reach an altitude of 50,000 feet (15.5 km) and release Space Ship Two that will transport passengers to space at 361,00 feet (110 km) at some point in the future. REUTERS/Allen Fredrickson

The Obama administration is preparing for a space tourism industry that is expected to be worth $1 billion in 10 years, the head of the Federal Aviation Administration's commercial space office said on Mar. 20.