Space Mining Market Size, Share, Growth Report 2030

Space Mining Market

Space Mining Market - by Crop Phase (Spacecraft Design, Launch, And Operation), Type of Asteroid (Type C, Type S, and Type M), and Type of Commodity Resource (Water, Platinum Group Material and Structural Elements): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026

Category: Defense & Security Report Format : PDF Pages: 110 Report Code: ZMR-3699 Published Date: Oct-2020 Status : Published

The global space mining market was worth USD 0.65 Billion. By 2026, it is predicted to produce USD 2.85 Billion, rising at a CAGR of 20.22%.

Space Mining Market Size

According to the report published by Zion Market Research, global demand for Space Mining market was valued at approximately USD 0.65 Billion in 2019, and is expected to generate revenue of around USD 2.85 Billion by end of 2026, growing at a CAGR of around 20.22% between 2020 and 2026.

Global Space Mining Market: Overview

The method of excavation of materials and minerals from asteroids and near-earth artefacts is space mining. The purpose of space mining is close to that of extracting, extracting and excavating useful materials and minerals from the earth. The biggest distinction is the expense of both, which is highly expensive for space mining, but space mining may be the only viable choice for the exploration of minerals and materials because of the exponential depletion of supplies and these supplies are becoming increasingly limited on earth.

Global Space Mining Market: Growth Factors

During the forecast era, the space mining demand for the spacecraft design stage is projected to rise at the fastest CAGR. A spaceship is a computer designed to fly in outer space as a vehicle. It is used for various purposes, such as correspondence, observation of the earth, meteorology, navigation, colonisation of space, planetary discovery, and human and freight transportation. The total spacecraft, consisting of numerous devices such as instruments (including radiometers, spectrometers, thermal emission and reflection systems , sensors, magnetometers and multispectral scanners, among others), altitude control systems and electrical power systems, is configured depending on the type of task. The architecture of the spacecraft is crucial since the spacecraft must be sustained in space under critical or extreme conditions, such as microgravity.

Global Space Mining Market: Segmentation

The Space Mining market is fragmented based on phase, type of asteroid and type of commodity resource. By phase, the market is divided into spacecraft design, launch, and operation. On the basis of type of asteroid, the Space Mining market includes Type C, Type S, and Type M. On the basis of type of commodity resource, the market is segmented into water, platinum group material and structural elements.

Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Global Space Mining Market: Regional Analysis

In the years to come, North America is anticipated to be the dominant space mining market. The United States is currently spending enormous sums in the space mining industry. OSIRIS-REx of NASA flew to a near-Earth asteroid named Bennu and could carry a small sample for research back to Earth. In September 2016, the mission was started. NASA's OSIRIS-REx spacecraft arrived at its destination, asteroid Bennu, in December 2018 after flying across space for more than 2 years. The spacecraft is scheduled to return a sample to Earth in 2023, as anticipated.

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Global Space Mining Market: Competitive Players

Some main participants of the Space Mining market are Deep Space Industries Inc., Planetary Resources, Moon Express, ispace, Asteroid Mining Corporation Limited, Shackleton Energy Company, KLEOS SPACE S.A., ISRO, Boeing, SPACE EXPLORATION TECHNOLOGIES CORP., Northrop Grumman Corporation, Sierra Nevada Corporation, Virgin Galactic, Made In Space Inc., Ad Astra Rocket Company, Airbus S.A.S., TransAstra Corporation, OffWorld, SpaceFab.US Inc., NASA, European Space Agency, Japan Aerospace Exploration Agency, China National Space Administration, Roscosmos, among others.

Space Mining Market: Segments Analysis

By Crop Phase 

  • Spacecraft Design
  • Launch
  • Operation

Type Of Asteroid 

  • Type C
  • Type S And 
  • Type M

Type Of Commodity Resource

  • Water 
  • Platinum Group Material And 
  • Structural Elements

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Government policies are boosting the development of the sector at the moment. Enacted by the United States in 2015, the Commercial Space Launch Competition Act enabled private firms to pursue mining work outside Earth. In addition, the Luxembourg Space Mining Regulation, enacted in 2017 as part of the SpaceResources programme, seeks to ease limits on the mining activities of private corporations outside the World.

According to Zion Market Research, global demand for Space Mining market is expected to generate revenue of around USD 2.85 Billion by end of 2026, growing at a CAGR of around 20-22% between 2020 and 2026.

In the years to come, North America is anticipated to be the dominant space mining market. The United States is currently spending enormous sums in the space mining industry. OSIRIS-REx of NASA flew to a near-Earth asteroid named Bennu and could carry a small sample for research back to Earth.

Some main participants of the Space Mining market are Deep Space Industries Inc., Planetary Resources, Moon Express, ispace, Asteroid Mining Corporation Limited, Shackleton Energy Company, KLEOS SPACE S.A., ISRO, Boeing, SPACE EXPLORATION TECHNOLOGIES CORP., Northrop Grumman Corporation, Sierra Nevada Corporation, Virgin Galactic, Made In Space Inc., Ad Astra Rocket Company, Airbus S.A.S., TransAstra Corporation, OffWorld, SpaceFab.US Inc., NASA, European Space Agency, Japan Aerospace Exploration Agency, China National Space Administration, Roscosmos among others.

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