About Space Mining
Space mining refers to exploitation of raw materials from numerous near earth objects and asteroid. These minerals can be used for space construction purpose and be brought to earth for use. Out of all the asteroid, C type Asteroid is dominating the space mining market owing to their composition involves a large quantity of carbon, minerals, and rocks. Further, technological development regarding automated mining techniques such as robotics mining and in-situ resource utilization creating lucrative opportunities for the companies involved in space mining operations as the recent launch of SpaceX’s Falcon Heavy prove to cause disruption and will make the space mining a reality anytime soon.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 21.95% |
Space mining market is concentrated owing to the number of companies present in the market. Some of the major companies are National Aeronautics and Space Administration, Deep Space Industries, Planetary Resources, and others. Market leaders are focusing on technological development such as automated mining tools, in-situ resource utilization, robotic and automated factories for space exploration. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Space Mining market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Deep Space Industries (United States), Planetary Resources (United States), Moon Express (United States), I Space (Japan), Asteroid Mining Corporation (United Kingdom), Shackleton Energy Company (United States), Kleos Space (Luxembourg), Trans Astra (United States), Off World (United States), SpaceLab (United States), National Aeronautics and Space Administration (United States) and European Space Agency (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Japan Aerospace Exploration Agency (Japan), China National Space Administration (China) and Russian Federal Space Agency (Russia).
Segmentation Overview
AMA Research has segmented the market of Global Space Mining market by Type (Surface mining, Shaft mining, Magnetic rakes, Heating, Mond process and Self-replicating machines), Application (Extraterrestrial Commodity, Construction, Human Life Sustainability and Others) and Region.
On the basis of Type, Type C Asteroid are dominating the market in the year 2023On the basis of geography, the market of Space Mining has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Phase, the sub-segment i.e. Spacecraft Design will boost the Space Mining market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Type of Asteroid, the sub-segment i.e. Type C will boost the Space Mining market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Types of Commodity Resources , the sub-segment i.e. Water will boost the Space Mining market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distance from Earth, the sub-segment i.e. Near-Earth Asteroids (NEAs) will boost the Space Mining market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Automated Techniques Such As Robotic Mining for Space Mining
Market Growth Drivers:
Government Initiatives for Space Exploration Activities and Increasing Space Mining Operations in Developed Economies
Challenges:
Space Mining Creating Adverse Effect on Environment
Restraints:
High Cost Associated With Space Mining
Opportunities:
Growing Research and Development for In-Situ Resource Utilization
Market Leaders and their expansionary development strategies
In April 2021, TransAstra announced that it received two contracts from the NASA Small Business Innovation Research (SBIR) program for Radiant Gas Dynamic (RGD) Ice Mining and Sun FlowerSolar Power Tower operations at the Lunar base of operations.
In August 2021, NASA announced that it had given a 10 cent check to space startup Lunar Outpost in the first-ever payment to a company to mine the moon. The check, which was just 10 cents, or 10% of Lunar Outpost's USD 1 bid, will go toward the company's efforts to collect lunar dust, or regolith, for the agency.
Key Target Audience
Raw material vendors, Component and hardware providers, Original equipment manufacturers (OEMs), Space mining companies, Space agencies, Technology standards organizations, forums, alliances, and associations, Governments, financial institutions, and investment communities, Research organizations, Analysts and strategic business planners, Venture capitalists, private equity firms, and startup companies and Distributors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.