Global Space Mining Market is valued at approximately USD 1.67 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 19.13% over the forecast period 2024-2032. Technological advancements in space exploration are a primary driver for the global space mining market. Over the past decade, significant progress has been made in spacecraft design, propulsion systems, and robotic technologies, making it feasible to undertake missions to asteroids and other celestial bodies for resource extraction. Companies like SpaceX and Blue Origin are developing reusable rockets, significantly reducing the cost of space missions. Additionally, advancements in robotic technology, such as those developed by NASA and the European Space Agency, enable precise and autonomous operations in the harsh environment of space, performing detailed surveys of potential mining sites, extracting resources, and processing materials on-site. As these technologies continue to evolve, they will lower the barriers to entry for space mining, making it more economically viable and driving market growth.
The global space mining market is experiencing robust growth, propelled by several key factors. The strategic and economic potential of space mining has led several governments to implement policies encouraging private sector investment and innovation. The United States passed the Commercial Space Launch Competitiveness Act in 2015, granting private companies the rights to resources they extract from space. Similarly, Luxembourg has established itself as a hub for space mining activities, providing financial incentives and a favourable regulatory environment to attract space mining companies. These policy initiatives create a conducive environment for the development of space mining technologies and operations, driving market growth. Furthermore, international cooperation through agreements such as the Artemis Accords supports the expansion of the space mining industry by providing a framework for resource extraction and utilisation.
The key regions considered for the Global Space Mining Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. In 2023, North America is the largest regional market in the marketplace, propelled by the presence of key players and significant investments in space exploration technologies. The market in Asia Pacific, on the other hand, is expected to grow at the fastest rate over the forecast period due to increasing investments in space technology and exploration initiatives by countries like China and India.
Major market players included in this report are:
SpaceX
Blue Origin
Planetary Resources, Inc.
Deep Space Industries
Moon Express
iSpace
TransAstra Corporation
Asteroid Mining Corporation
Bradford Space
OffWorld
Shackleton Energy Company
Kleos Space S.A.
Honeybee Robotics
Masten Space Systems
Lunar Outpost
The detailed segments and sub-segments of the market are explained below:
By Technique:
Asteroid Mining
Lunar Mining
Planetary Mining
By Resource Extraction:
Liquid Extraction
Precious Metals Extraction
Rare Earth Elements Extraction
Other Resources
By Infrastructure:
Drilling Rigs and Excavators
Payload Handling Systems
Autonomous Mining Vehicles
Ore Processing Plants
Orbital Storage Depots
Interplanetary Transport Vessels
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
