Global Space Mining Market Growth (Status and Outlook) 2023-2029

Global Space Mining Market Growth (Status and Outlook) 2023-2029

Space mining, or asteroid mining, refers to the mining of asteroids and other minor planets for their valuable raw materials.
There are millions of asteroids in the solar system – remnants of bodies colliding in space. Most of the asteroids are distributed between the orbits of Mars and Jupiter —the main asteroid belt— but not all of them. According to Advantage Environment, approximately 13,000 asteroids are categorized as near-Earth objects, well within reasonable reach, and at least 900 more are discovered every year.
Asteroid mining is a concept that involves the extraction of useful materials from asteroids and near-earth objects, which are useful for propulsion, construction, life support, agriculture, metallurgy, and precious and strategic metals. Volatiles such as hydrogen and methane could be used to produce rocket fuel for transporting spacecraft between the Earth and near-earth objects. Rare-earth metals, such as thulium, scandium, and holmium could be used to manufacture materials as well as solar panels which could be used to power habitats in space. These solar-powered cells could also be used to provide electricity for its inhabitants with satellites specifically designed for this purpose. Iron, nickel and cobalt would serve as fundamental raw materials for building space factories. Precious metals such as platinum, platinum-group metals (PGMs), and gold are also useful. A handful of companies, emerging and existing, will require materials with a high level of purity in large quantities, all of which are readily available in asteroids. There are conjectures that the asteroid mining industry is a whooping trillion-dollar industry.
The market value of asteroid mining refers to the development of technologies and spacecraft design, for example, that will ultimately enable space missions for the purpose of gathering raw materials.
According to this study, the global Space Mining market size will reach US$ 7835.3 million by 2029.
In terms of region, the largest segment of Global Space Mining Market would be North America, with a market share of over 53% in 2019. Following North America, Europe accounted for nearly 31% of global market.
For applications of Global Space Mining Market, Fuel is the largest segment with a market share of nearly 60% in 2019. Construction and 3D Printer accounted for about 22% and 14% of global market, respectively.
This report presents a comprehensive overview, market shares, and growth opportunities of Space Mining market by product type, application, key players and key regions and countries.
Segmentation by product type:
C-Type Carbonaceous Asteroids
S-Type Silicaceous Asteroids
M-Type Metallic Asteroids
Segmentation by Application:
Fuel
Construction
3D Printer
This report also splits the market by region:
United States
China
Europe
Other regions:
Japan
South Korea
Southeast Asia
Rest of world
The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:
ConsenSys (Planetary Resources)
Bradford Space (Deep Space Industries)
Moon Express
Ispace
Asteroid Mining Corporation
Trans Astronautica Corporation
OffWorld
SpaceFab

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