Медаль «За космический полёт»
Tryggvason is a member of the Canadian Aeronautics and Space Institute. He was awarded an honorary D.Sc. degree from the University of Western Ontario in 1998, an honorary Dr. Techn. degree from the University of Iceland in 2000, and an honorary D.Eng. degree from the University of Victoria in 2005. He was furthermore awarded the NASA Space Flight Medal in 1997, the Innovators Award of the Canadian Space Agency in 2004, and the Knight's Cross of the Icelandic Order of the Falcon.