Space Mining Market - Growth, Trends, Covid-19 Impact, And Forecast (2023 - 2029)

Market Overview:

The Space Mining market was valued at USD 1340 million in 2021 and is expected to reach USD 5090 million by the year 2028, at a CAGR of 21%.

Space mining is the activity related to extracting metals and minerals from asteroids, comets, or other heavenly bodies in space. Space technology is being developed by the increasing focus of companies leading to the increased scope of the business over the coming years it is also excepted to enable the exploitation of the rich resources of the asteroids in the solar system. The asteroid contains, water, metals, elements, and others. The asteroids are so close to the earth. Hence scientist thinks that space mining is very feasible. Henceforth, many private companies and agencies are developing plans for space mining to get back natural resources from space.

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Market Dynamics:

Driver:

The major driving factor of space mining is the increasing investments in space mining companies as well as the growing adoption of 3D printing technology in asteroid mining. The rise in enthusiasm from the private sector, the advent of a feasible space mining technology, and the reduction in project costs are boosts the market growth. The rising government initiatives to frame regulations with respect to asteroid mining are excepted to boost the market growth.

Opportunities:

The market excepted to grow with increasing opportunities in construction, human life sustainability, 3D printing industries, and extra-terrestrial commodity. The increasing number of ongoing space missions and increasing adoption of in-situ resource utilization practices in space exploration are the major factors that give opportunities for market growth. The increased support of the government offers many growth opportunities for the space mining market. Water and metal are abundant quantities in space which opens the possibility of large-scale excavation thus it creates new opportunities for market growth.

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The Report Will Include A Major Chapter

•Patent Analysis
•Regulatory Framework
•Technology Roadmap
•BCG Matrix
•Heat Map Analysis
•Price Trend Analysis
•Investment Analysis
•Company Profiling and Competitive Positioning
•Industry Value Chain Analysis
•Market Dynamics and Factors
•Porter's Five Forces Analysis
•Pestle Analysis

Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.

Market Segmentation

By Type:

•Type C
•Type S
•Type M

By Phase:

•Spacecraft Design
•Launch
•Operation

By Application:

•Extraterrestrial Commodity
•Construction
•Human Life Sustainability
•Fuel
•3D Printing

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Regional Outlook of Space Mining Market

Due to rising space exploration demand from various existing organizations such as NASA and the Department of Defense, the North American market is expected to rise significantly in revenue over the forecast period. Over the next few years, the global market is expected to expand due to a growing dependence on space resources and the need to ensure secure space operations. The European Space Agency is one of the first space agencies (ESA). ESA's goal is to guide Europe's space capability growth and ensure that investments in space continue to support people around the world. Luxembourg is the first European country to develop a legal framework for space-based resource extraction.

By Region:

•North America (U.S., Canada, Mexico)
•Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
•Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
•Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
•South America (Brazil, Argentina, Rest of SA)

Key Players For The Global Space Mining Market

•Bradford
•Ispace
•Kleos Space S.A.
•Moon Express
•Planetary Resources
•Spacefab.Us
•Sierra Nevada Corporation
•Offworld
•Virgin Galactic
•Deep Space Industries
•Asteroid Mining Corporation
•Shackleton Energy Company
•TransAstra
•National Aeronautics and Space Administration
•European Space Agency
•Japan Aerospace Exploration Agency
•China National Space Administration
•Russian Federal Space Agency
•Asteroid Mining Corporation Limited and other major players.

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Key Benefits of Space Mining Market Research:

•Industry drivers, restraints, and opportunities covered in the study
•Recent industry trends and developments
•Competitive landscape and strategies of key players
•Potential and niche segments and regions exhibiting promising growth covered
•Historical, current, and projected market size, in terms of value
•Overview of the regional outlook of the Space Mining Market

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