Space Mining Market- Global Industry Analysis and Forecast (2023-2029)

Space Mining Market was valued at US$ 13.02 Bn. in 2022. Global Space Mining Market size is expected to grow at a CAGR of 13% through the forecast period.

Space Mining Market Overview:

The extraction of raw materials from asteroids and small planets is known as space mining. The primary goal of space mining is to meet mineral requirements. Platinum, gold, silver, nickel, and aluminum are just a few of the materials available. Ice water can be collected and utilized as a rocket propellant on C-type asteroids. The growing number of C-type asteroids space mining missions and signs of water and metal in space are fuelling the space mining business. The space mining business is being driven by increased private stakeholder investments in space mining enterprises. A growing number of government activities to design legislation for asteroid mining and multiple space mining missions are boosting the sector. Space Mining MarketTo know about the Research Methodology :- Request Free Sample Report 2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.

Space Mining Market Dynamics:

COVID-19 Impact: The COVID-19 pandemic had little effect on the space mining sector. Despite minor setbacks in the manufacturing sector, most space mining programs are on track, with the Market gradually progressing toward the commercialization of space mining activities. Asteroid mining demand was hindered by economic instability, a partial corporate shutdown, and poor consumer confidence. During the epidemic, the supply chain was hindered, and logistics activities were delayed. However, due to the loosening of regulations, the asteroid mining sector is likely to pick up speed in the post-pandemic scenario. Drivers: Current and prospective mining missions, increased private stakeholder investments in space mining businesses, and government activities and regulations supporting the growth of the space mining Market are driving the market. The government is promoting asteroids and tiny planets for mining. Water, fuels, and other elements from outside the planet have a favorable impact on market growth. Metal and water are abundant in space, and the government has been actively pushing space mining through numerous projects and laws. This element allows for large-scale excavation, resulting in the establishment of new prospects in the space mining business. SPCA mining not only meets people's material requirements but also allows them to explore the expanse of space. Restraints: space mining is no longer a science fantasy concept However, the excavation and delivery of minerals from space is extremely challenging due to restricted technology advancements and expensive costs. The Expected return will take some time. These issues limit the market's growth. The lack of technological advancement is a stumbling block for the space mining sector. The dangers connected with space mining, such as detrimental environmental consequences and space, are limiting the market growth. The high expense of space mining techniques: Metals that are currently extracted from the earth are found on celestial bodies like the Moon and asteroids. Mining on the moon, according to estimates, would cost roughly $9 billion at first. Also, capturing pieces of near-Earth asteroids, which corporations are actively designing programs to begin mining in space, might cost as little as $492 million. According to Planetary Resources Inc., an asteroid-mining company founded by Google's Larry Page and Eric Schmidt, each mission to mine an asteroid might cost between $50 million and $100 million shortly, making this enterprise prohibitively expensive and difficult to implement. Top Influencing Factors: Current and future space missions, advances in 3D printing technology, the high cost of space mining techniques, the rise in the number of government regulations regarding space mining, and the adoption of in situ utilization practice in space exploration are all expected to have a significant impact on the asteroid mining market. These variables are expected to either help or hinder the market growth. Recent Development: SPACE EXPLORATION TECHNOLOGIES CORP. (SpaceX) and NASA inked a USD 117 million deal in February 2021 to examine the mineral-rich asteroid Psyche. A Falcon Heavy rocket will launch the Psyche mission from Cape Canaveral Air Force Station's Launch Complex 39A. Airbus Ventures announced in October 2021 that it has expanded its space technology portfolio by investing in space Inc. as part of an extension of the lunar exploration company's Series C funding round. NASA stated in August 2021 that it had delivered a 10% check to Lunar Outpost, the first-ever payment to a lunar mining enterprise. The money will go toward Lunar Outpost's attempts to gather lunar dust, or regolith, for NASA. A Northern Ontario company signed a deal with the Canadian Space Agency in April 2016 to work on a multi-purpose device. This device is intended for use on the moon and Mars in the future.

Space Mining Market Segment Analysis:

Based on Type, C-type (carbonaceous) asteroids are the most frequent, accounting for around 75% of all known asteroids. Because their composition comprises a substantial quantity of carbon, in addition to rocks and minerals, they are volatile-rich and have a very low albedo. Their density is around 1.7 g/cm3. They are most common at the asteroid belt's outer border, 3.5 astronomical units (AU) from the Sun, where 80 % of asteroids are C-type, whereas only 40% of asteroids around 2 AU from the Sun are C-type. C-types are substantially darker (and hence less observable) than most other asteroid kinds (except D-types and those that are largely at the asteroid belt's far outer border), the fraction of C-types may be higher. S Type: Asteroids with a spectral type that indicates a siliceous mineralogical composition are known as S-type asteroids. Their density is quite great. This class of asteroids makes up around 17% of all asteroids, making it the second most frequent after the carbonaceous C-type. M-type (also known as M-class) asteroids are a spectral class of asteroids that appear to contain higher quantities of metal phases (iron-nickel) than other asteroid classes and are assumed to be the source of iron meteorites. M-type is based on their modest optical albedo and generally featureless and flat to red-sloped absorption spectra in the visible to near-infrared. They are included in the broader X-type asteroid group, along with the spectrally similar P-type and P-type asteroids (both categories E and P were once type-M in prior systems), and are distinguished solely by optical albedo. Based on the Application, Resource Harvesting: data returned from reiterative expeditions to the Moon, As evidenced by samples and NEAs by space powers like the United States, Japan, the former Soviet Union, and, most recently, China, which proved the mineral wealth of lunar rocks and dust, as well as the existence of large deposits of water ice in lunar poles, harvesting space resources, has proven its great potential. 3D printing: 3D printing, which is now conceivable with metal, and mining asteroids for valuable metals are two of the technologies covered in Advancing Mining and its sister site, analyzing Metals. These two stories have now collided with the announcement that Planetary Resources, in partnership with 3D Systems, has developed 3D-printed products made from asteroid metals. The new 3D Systems ProX DMP 320 metals 3D printer was used to 3D print this spacecraft prototype from a genuine asteroid that was pulverized, powdered, and treated. It's the first part ever 3D printed with material from space, and it looks like something that could come from a space-based 3D printer. The asteroid (or meteorite) utilized in the print materials came from the Campo Del Cielo collision near Argentina, and it's made up of iron, nickel, and cobalt, which are equivalent to the elements found in refinery grade steel. Based on Phases, Spacecraft Design: The design of spacecraft encompasses both robotic (satellites and planetary probes) and human spaceflight vessels (spaceships and space stations). The cargo is carried by the spacecraft bus. Its subsystems support the payload and assist in correctly directing the payload. It places the payload in the proper orbit and maintains it. It does household duties. If needed, it can also offer orbit and attitude maintenance, electric supply, command, telemetry, data handling, structure and stiffness, temperature control, data storage, and communication. The payload and spacecraft bus may be separate pieces or a single unit. The load-carrying interface with the vehicle is provided by the booster adapter (payload and spacecraft bus together). Launch: A spacecraft's launch is defined as a period of powered flight in which the vehicle climbs beyond Earth's atmosphere and accelerates to orbital velocity. When the last stage of the rocket burns out, the spacecraft separates and continues to fall in freefall. Instead of joining Earth’s orbit, the spacecraft's flight path will be entirely a solar orbit of some sort if it has managed to escape Earth's gravitational pull (since the launch pad was also in solar orbit). Upper Stage Rockets can be placed atop the launch vehicle's lower stages (or within the cargo area of the Shuttle) to provide the performance required for a specific payload.

Regional Insights:

In the entire space mining market, Asia Pacific is expected to grow at a CAGR of 4.27 %. China and Japan, are investing heavily in research and development to conduct future space mining missions. China launched the tiny space mining test spacecraft with 8 other commercial satellites on a Long March 6 rocket in April 2021. In addition, the North American region held the largest market share in the entire space mining Market, which was valued at USD 0.48 billion in 2021. The presence of a big number of private enterprises in the United States is helping the North American market to flourish. The objective of the report is to present a comprehensive analysis of the global Space Mining Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Space Mining Market dynamic, and structure by analyzing the market segments and projecting the Space Mining Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Space Mining Market make the report investor’s guide.

Space Mining Market Scope: Inquiry Before Buying

Space Mining Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US$ 13.02 Bn.
Forecast Period 2023 to 2029 CAGR: 13% Market Size in 2029: US$ 30.65 Bn.
Segments Covered: by Product Type C Type S Type M Others
by Type Construction Resource Harvesting 3D Printing Others
by Application Space Craft Design Launch Operation

Space Mining Market by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (razil, Argentina Rest of South America)

Key Players:

1. ASTEROID MINING CORPORATION LIMITED 2. BRADFORD 3. SPACE 4. KLEOS SPACE S.A. 5. MOON EXPRESS 6. PLANETARY RESOURCES 7. SPACEFAB.US 8. SIERRA NEVADA CORPORATION 9. OFFWORLD 10. VIRGIN GALACTIC 11. Boeing. (US) 12. ISRO (India) 13. Shackleton Energy Company (US) 14. Northrop Grumman Corporation. (US) 15. Airbus S.A.S. (Netherlands) 16. Trans Astronautica Corporation. (US) 17. NASA (US) XX Frequently Asked Questions: 1] What segments are covered in the Global Space Mining Market report? Ans. The segments covered in the Global Space Mining Market report are based on Product Type, Phases, and Application. 2] Which region is expected to hold the highest share in the Global Space Mining Market? Ans. The Asia Pacific region is expected to hold the highest share in the Global Space Mining Market. 3] What is the market size of the Global Space Mining Market by 2029? Ans. The market size of the Global Space Mining Market by 2029 is expected to reach US$ 30.65 Bn. 4] What is the forecast period for the Global Space Mining Market? Ans. The forecast period for the Global Space Mining Market is 2023-2029. 5] What was the market size of the Global Space Mining Market in 2022? Ans. The market size of the Global Space Mining Market in 2022 was valued at US$ 13.02 Bn.
1. Global Space Mining Market Size: Research Methodology 2. Global Space Mining Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Space Mining Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Space Mining Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • The Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Space Mining Market Size Segmentation 4.1. Global Space Mining Market Size, by Type (2022-2029) • Type C • Type S • Type M • Others 4.2. Global Space Mining Market Size, by Application (2022-2029) • Construction • Resource Harvesting • 3D Printing • Others 4.3. Global Space Mining Market Size, by Phases (2022-2029) • Spacecraft Design • Launch • Operation • Others 5. North America Space Mining Market (2022-2029) 5.1. North America Space Mining Market Size, by Type (2022-2029) • Type C • Type S • Type M • Others 5.2. North America Space Mining Market Size, by Application (2022-2029) • Construction • Resource Harvesting • 3D Printing • Others 5.3. North America Space Mining Market Size, by Phases (2022-2029) • Spacecraft Design • Launch • Operation • Others 5.4. North America Semiconductor Memory Market, by Country (2022-2029) • The United States • Canada • Mexico 6. Europe Space Mining Market (2022-2029) 6.1. Europe Space Mining Market, by Type (2022-2029) 6.2. Europe Space Mining Market, by Application (2022-2029) 6.3. Europe Space Mining Market, by Phases (2022-2029) 6.4. Europe Space Mining Market, by Country (2022-2029) • The UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Space Mining Market (2022-2029) 7.1. Asia Pacific Space Mining Market, by Type (2022-2029) 7.2. Asia Pacific Space Mining Market, by Application (2022-2029) 7.3. Asia Pacific Space Mining Market, by Phases (2022-2029) 7.4. Asia Pacific Space Mining Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASIAN • Rest Of APAC 8. The Middle East and Africa Space Mining Market (2022-2029) 8.1. The Middle East and Africa Space Mining Market, by Type (2022-2029) 8.2. The Middle East and Africa Space Mining Market, by Application (2022-2029) 8.3. The Middle East and Africa Space Mining Market, by Phases (2022-2029) 8.4. The Middle East and Africa Space Mining Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Space Mining Market (2022-2029) 9.1. South America Space Mining Market, by Type (2022-2029) 9.2. South America Space Mining Market, by Application (2022-2029) 9.3. South America Space Mining Market, by Phases (2022-2029) 9.4. South America Space Mining Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. ASTEROID MINING CORPORATION LIMITED 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. BRADFORD 10.3. ISPACE 10.4. KLEOS SPACE S.A. 10.5. MOON EXPRESS 10.6. PLANETARY RESOURCES 10.7. SPACEFAB.US 10.8. SIERRA NEVADA CORPORATION 10.9. OFFWORLD 10.10. VIRGIN GALACTIC 10.11. Boeing. (US) 10.12. ISRO (India) 10.13. Shackleton Energy Company (US) 10.14. Northrop Grumman Corporation. (US) 10.15. Airbus S.A.S. (Netherlands) 10.16. Trans Astronautica Corporation. (US) 10.17. NASA (US)Company 2

About This Report

Report ID 148286
Category Aerospace and Defense
Published Date July 2023
Updated Date