First, a detailed review of two-phase frictional pressure gradient at microgravity conditions is presented. Then, a simple semi-theoretical method for calculating two-phase frictional pressure gradient at microgravity conditions using asymptotic analysis is presented. Two-phase frictional pressure gradient is expressed in terms of the asymptotic single-phase frictional pressure gradients for liquid and gas flowing alone. In the present model, the two-phase frictional pressure gradient for x ≅ 0 is nearly identical to single-phase liquid frictional pressure gradient. Also, the two-phase frictional pressure gradient for x ≅ 1 is nearly identical to single-phase gas frictional pressure gradient. The proposed model can be transformed into either a two-phase frictional multiplier for liquid flowing alone (φl2) or two-phase frictional multiplier for gas flowing alone (φg2) as a function of the Lockhart-Martinelli parameter, X. Comparison of the asymptotic model with experimental data at microgravity conditions is presented.