Asteroid Mining Market to Reach $3,868.9 Million by 2025 | Ongoing and future space missions
The market growth is also attributed to the increase in R&D investments by the large players to deploy space mining processes. Space has ample water and metal resources, which is further expected to enable large-scale exploration, thereby creating new avenues for market growth. However, the process is still in the prototype stage and is yet to be implemented.
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According to a recent report published by Allied Market Research, the global asteroid mining market was valued at $712.0 million in 2017 and is projected to reach $3,868.9 million by 2025, growing at a CAGR of 24.4% from 2018 to 2025.
With rapid progress made in field of science and technology, mining activities have increased at a very rapid pace. The earth natural replenishment cycle is unable to meet the current demand, because of which there is a shortage of precious resources such as gold and platinum, which results in the rise in prices of these metals.
Key Benefits for Asteroid Mining Market:
•This study includes the analytical depiction of the global asteroid mining along with the current trends and future estimations to determine the imminent investment pockets.
•The report presents information regarding the key drivers, restraints, and opportunities.
•The asteroid mining market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the industry.
•Porters five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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The major players operating in the global asteroid mining market are Asteroid mining Company, Bradford, iSpace, Kleos Space S.A, Planetary Resources, SpaceFab.US, Sierra Nevada Corporation, Offworld, and Virgin Galactic. These key players have adopted product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaboration to enhance their market penetration.
About Allied Market Research
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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