Global Asteroid Mining Market – Industry Trends and Forecast to 2030

Global Asteroid Mining Market, ByPhase (Space-craft Design, Launch, Operation), Asteroid Type (Type C, Type S, Type M, Others), Application (Construction, Resource Harvesting, 3D Printing, Others) – Industry Trends and Forecast to 2030.

 Asteroid Mining Market Analysis and Size

The asteroid mining market is expected to grow with a significant rate during the forecast period. The growth of the market can be attributed to augmented space mining missions, growing investments in space mining companies and the rising adoption of 3D printing technology in asteroid mining. Furthermore, the surging adoption of In-Situ Resource Utilization (ISRU) practice for space investigation and growth in government regulatory frameworks for space rock mining are also expected to positively impact the growth of the market during the forecast period.

Data Bridge Market Research analyses that the asteroid mining market is expected to reach USD 6.03 billion by 2030, which is USD 1.01 billion in 2022, at a CAGR of 25.00% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Asteroid Mining Market Scope and Segmentation

Market Definition

Asteroid mining is the process of extraction of minerals and other raw materials, such as aluminum, manganese, iron, silver, gold, rhodium, nickel, and cobalt, from minor asteroids and planets in the outer space. It contributes to a viable environment because minerals mined in space are used as construction materials or rocket propellants. It is mainly performed in the asteroids to decrease the price of transporting minerals into the orbit of the Earth. Furthermore, it allows the large-scale exploration of platinum and water for use in the growing economy.

Asteroid Mining Market Dynamics

Drivers

• Increasing adoption of In-Situ Resource Utilization (ISRU) practice

The increasing adoption of In-Situ Resource Utilization (ISRU) practice in the space exploration, which aids store, collect, process, and use resources found on asteroids, is positively influencing the demand for the asteroid mining and expected to drive the growth rate asteroid mining market during the forecast period.

• Growing demand for spacecraft

The spacecraft is an automobile that is formed to fly with crew or without any crew in outer space. These spacecraft are used for numerous purposes, such as navigation, communication, observation, and transportation. This design plays a significant role in asteroid mining missions. Therefore, the major companies are investing in spacecraft design for improvement and for asteroid mining missions which are anticipated to drive the growth rate.

Opportunity

• Government initiatives will emerge as an opportunity

Today, government initiatives are helping in the growth of the asteroid mining market. Governments are issuing some licenses to conduct space or asteroid related activities, and some economies are applying new rules and regulations for asteroid mining. The Commercial Space Launch Competitiveness Act which has enacted by the U.S. in 2015, boosts the private sector to undertake mining work beyond Earth. Moreover, in 2020, the United States administration creates some new rules through a management order which is following the 2015 law change for how the businesses may revenue from operations on the asteroids, moon, and other planets. This administration also plans to boost other markets to adopt new U.S. perceptions of asteroid mining.

Restraints

• Multiple issues associated with asteroid mining

High prices associated with prospecting missions and asteroid mining which is anticipated to obstruct the growth of the asteroid mining market. Furthermore, issues with space mining activities and landing a spacecraft on asteroids creating environmental issues that affect both earth and space which are projected to challenge the growth of the asteroid mining market in the forecast period of 2023-2030.

This asteroid mining market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the asteroid mining market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In 2021 Origin Space which is a seed-stage Chinese private company developing and researching technology to allow space resource utilization. This company has successfully launched the first robot devoted to mining space resources by using a spacecraft named NEO-1.
• In 2021, Airbus Ventures announced the expansion of the company’s potfolio in space technologies with the investment in ispace Inc. This was complete as a part of an addition of the lunar exploration company’s Series C.

Global Asteroid Mining Market Scope

The asteroid mining market is segmented based on phase, asteroid type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Phase

• Space-Craft Design
• Launch
• Operation

Asteroid Type

• Type C
• Type S
• Type M
• Others

Application

• Construction
• Resource Harvesting
• 3D Printing
• Others

 Asteroid Mining Market Regional Analysis/Insights

The asteroid mining market is analyzed and market size insights and trends are provided by country, phase, asteroid type and application as referenced above.

The countries covered in the asteroid mining market report are report  U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the asteroid mining market in revenue growth due to the growth of domestic commercial space mining industry coupled with increasing adoption of novel and advanced technologies in this region.

Asia-Pacific is projected to be the fastest developing region during the forecast period of 2023-2030 due to growth in mining missions and space exploration by NASA in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Asteroid Mining Market Share Analysis

The asteroid mining market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to asteroid mining market.

Some of the major players operating in the asteroid mining market are:

• Asteroid Mining Corporation Limited (U.K.)
• Bradford Space (U.S.)
• iSpace (Japan)
• Kleos Space (Luxembourg)
• Moon Express (U.S.)
• Planetary Resources (U.S.)
• SpaceFab.US, Inc. (U.S.)
• OffWorld. (U.S.)
• Virgin Galactic (U.S.)
• Boeing. (U.S.)
• ISRO (India)
• Shackleton Energy Company (U.S.)
• Northrop Grumman Corporation. (U.S.)
• Airbus S.A.S. (Netherlands)
• Trans Astronautica Corporation. (U.S.)
• NASA (U.S.)