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Both companies offer the customers an incredible experience that will last only a few minutes.

Keep an eye on the sky this month, as Virgin Galactic gears up to finally take its first trip to space.

Virgin Orbit will also put satellites into space in December or January, Branson said.

"I think the market for people who would love to become astronauts, and go into space is very big, and I think it's up to us to produce as many spaceships as we can to cater to that demand", he said. It's the trip of a lifetime. "It's a business that I think has a fantastic future".

Branson has been investing in space travel since 2004 and was initially expected to go to space himself before April of this year. In 2014, an early version of a Virgin Galactic spacecraft pulled apart and crashed during a test flight over the Mojave, killing co-pilot Michael Alsbury.

"(Prices) are unlikely to ever come down to a point where millions are able to go to space, but we can try to at least bring it down to where tens of thousands of people can become astronauts.

Branson will travel to space.

In Singapore, billionaire and founder of Virgin, said that the company is close to launching its first mission into space, he hopes to briefly leave the Ground - and not even in the coming years and months, writes naked-science.

The company has already sorted out the necessary regulatory and licensing issues.

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Virgin Galactic now has about 800 passengers on its roster, all of whom have paid around $250,000 (£190,000) for a return trip to space.

The 68-year-old was asked by CNBC's Nancy Hungerford: 'If Elon Musk were to call you up, what advice would you give him?'

Blue Origin, owned by Amazon founder Jeff Bezos, has said it aims for test flights by the end of 2018.

Virgin's space programme is the culmination of a 14-year process.

Like all shrewd businessmen, Mr Branson welcomes the competition, but he maintains that Virgin Galactic will beat the others to the punch.

"Jeff Bezos and Elon Musk are formidable competitors, and there's definitely room for all three companies", he said.

At this point, it really is hard to say who is going to achieve the landmark first.

The company plans to conduct several more supersonic test flights this year.

"I think the market for people who would love to become astronauts and go to space is huge".