Industry Background:
Ongoing and future space missions will help to boost global asteroid mining market globally. It is the exploitation of raw materials from asteroids as well as other minor planets, which also contains near-earth objects. Minerals can be mined from an asteroid or spent comet and then used in space for construction material or can be taken back to earth. The raw material used including gold, iridium, silver, osmium, palladium, platinum, nickel, and aluminum. There is a rise in demand for planets limited resources with growing in the world’s population. This has led to several governments and private enterprises to set their sights on outer space for various resources which are projected to boost the global asteroid mining market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Deep Space Industries (United States), Planetary Resources (United States), Moon Express (United States), ispace (Japan), Asteroid Mining Corporation (United Kingdom), Shackleton Energy Company (United States), Kleos Space (Luxembourg), TransAstra (United States), OffWorld (United States) and SpaceFab.US (United States) |
This growth is primarily driven by Ongoing and Impending Space Mining Missions and Increasing Investments of Private Stakeholders in Space Mining Companies.
Globally, a noticeable market trend is evident High Adoption of 3D Printing Technology
The Aerospace & Defense sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Deep Space Industries (United States), Planetary Resources (United States), Moon Express (United States), ispace (Japan), Asteroid Mining Corporation (United Kingdom), Shackleton Energy Company (United States), Kleos Space (Luxembourg), TransAstra (United States), OffWorld (United States) and SpaceFab.US (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 2nd January 2019, Bradford Space, a U.S. owned space systems manufacturer with locations in the Netherlands and Sweden has acquired control over Deep Space Industries, Inc., often known as DSI. DSI will become Bradford’s first substantial U.S. presence, providing an outlet and location for activities in the U.S. space market.
In August 2022, two space technology companies, Helios and Eta Space, have joined forces to solve the oxygen problem in space. If humanity is to have a sustainable existence beyond Earth, reusable methane-fueled rocket systems will need liquid oxygen at a 1:4 ratio, so the only cost-effective solution to refueling in orbit is to generate and store oxygen on the moon. . from Mars.
Regulatory Insights:
“The US government modernized US commercial space legislation with the passage of the Spurring Private Aerospace Competitiveness and Entrepreneurship (SPACE) Act of 2015 (also called as Commercial Space Launch Competitiveness Act) in November 2015.“ This law clearly allows US citizens to involve in the commercial survey and exploitation of space resources, including water and minerals. Research activities based on space mining are mainly reinforced by NASA. NASA has announced many programs for numerous mining asteroid missions, which can collect the data from an asteroid and usage it for further mining method.
Influencing Trend:
High Adoption of 3D Printing Technology and Growth in Number of Government Initiatives to Frame Regulations
Market Growth Drivers:
Ongoing and Impending Space Mining Missions and Increasing Investments of Private Stakeholders in Space Mining Companies
Challenges:
Space Mining Activities Creating Huge Environmental Risks That Affect Space and Earth and Straighten Regulations Regarding Proprietary Rights
Restraints:
High Cost Associated With the Mining Techniques and Rising Various Risks Associated With Asteroids Mining
Opportunities:
Huge Adoption of In-Situ Resource Utilization (ISRU) Practice in Space Exploration
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Asteroid Mining Market
- Analysis about New Entrants in Asteroid Mining Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Asteroid Mining Study Sheds Light on
The Asteroid Mining Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Asteroid Mining industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Asteroid Mining industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.