Asteroid Mining Market Overview:
Asteroids mining is anticipated to enable the extraction of rich resources of the asteroids in the space. It is being developed by a variety of companies, which is leading to the enlarged scope of the business over the coming years. For instance, European nation’s Luxembourg hopes to be the global leader in the emerging race to mine resources in the outer space. Luxembourg is investing 25 million euros in a privately owned company, Planetary Resources. This is an asteroid mining startup, which is expected to launch its first commercial asteroid prospecting mission by 2020. In addition, China is planning to develop nuclear-powered space shuttles by 2040, which will have the ability to mine resources from asteroids and build solar power plants in space in the near future.
The asteroid mining market is gaining traction, owing to the availability of abundant resources in the space such as precious metals, fuel and other natural resources which influences its growth positively. In addition, the rise in the R&D, investments by key players to install space mining methods is expected to drive the space mining market size in the coming years.
The global asteroid mining market is analyzed by phase, asteroid type, application, and region. Based on phase, the market is divided into spacecraft design, launch, and operation. By asteroid type, the market is classified into Type C, Type S, Type M, and others. Based on application, the market is categorized into construction, resource harvesting, 3D printing, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global asteroid mining market are Asteroid mining Company, Bradford, iSpace, Kleos Space S.A, Planetary Resources, SpaceFab.US, Sierra Nevada Corporation, Offworld, and Virgin Galactic.
These key players have adopted strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
Key Benefits for Asteroid Mining Market:
This study includes the analytical depiction of the global asteroid mining along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information regarding the key drivers, restraints, and opportunities.
The current market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the industry.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Asteroid Mining Market Segmentations:
By Phase
Spacecraft Design
Launch
Operation
By Asteroid Type
Type C
Type S
Type M
Others
By Application
Construction
Resource Harvesting
3D Printing
Others
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
Russia
Luxembourg
Rest of Europe
Asia-Pacific
China
Japan
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Asteroids mining is anticipated to enable the extraction of rich resources of the asteroids in the space. It is being developed by a variety of companies, which is leading to the enlarged scope of the business over the coming years. For instance, European nation’s Luxembourg hopes to be the global leader in the emerging race to mine resources in the outer space. Luxembourg is investing 25 million euros in a privately owned company, Planetary Resources. This is an asteroid mining startup, which is expected to launch its first commercial asteroid prospecting mission by 2020. In addition, China is planning to develop nuclear-powered space shuttles by 2040, which will have the ability to mine resources from asteroids and build solar power plants in space in the near future.
The asteroid mining market is gaining traction, owing to the availability of abundant resources in the space such as precious metals, fuel and other natural resources which influences its growth positively. In addition, the rise in the R&D, investments by key players to install space mining methods is expected to drive the space mining market size in the coming years.
The global asteroid mining market is analyzed by phase, asteroid type, application, and region. Based on phase, the market is divided into spacecraft design, launch, and operation. By asteroid type, the market is classified into Type C, Type S, Type M, and others. Based on application, the market is categorized into construction, resource harvesting, 3D printing, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global asteroid mining market are Asteroid mining Company, Bradford, iSpace, Kleos Space S.A, Planetary Resources, SpaceFab.US, Sierra Nevada Corporation, Offworld, and Virgin Galactic.
These key players have adopted strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
Key Benefits for Asteroid Mining Market:
This study includes the analytical depiction of the global asteroid mining along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information regarding the key drivers, restraints, and opportunities.
The current market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the industry.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Asteroid Mining Market Segmentations:
By Phase
Spacecraft Design
Launch
Operation
By Asteroid Type
Type C
Type S
Type M
Others
By Application
Construction
Resource Harvesting
3D Printing
Others
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
Russia
Luxembourg
Rest of Europe
Asia-Pacific
China
Japan
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Note: Product cover images may vary from those shown
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ASTEROID MINING MARKET, BY PHASE TYPE
CHAPTER 5: ASTEROID MINING MARKET, BY ASTEROID TYPE
CHAPTER 6: ASTEROID MINING MARKET, BY APPLICATION
CHAPTER 7: ASTEROID MINING MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
Note: Product cover images may vary from those shown
According to the report titled, 'Asteroid Mining Market by Phase, Asteroid Type, and Application: Global Opportunity Analysis and Industry Forecast, 2017 - 2025' the global asteroid mining market was valued at $712.0 million in 2017 and is projected to reach $3,868.9 million by 2025, growing at a CAGR of 24.4% from 2018 to 2025.
The global asteroid mining market is expected to grow exponentially during the forecast period. The market growth is expected to be positively influenced by growing traces of metals, water, and fuel in the space along with increased emphasis of government on carrying out several space situational awareness programs. Space mining is projected to create new opportunities particularly in the Middle East & Africa over the next few years. The market growth is also attributed to the increase in R&D investments by the large players to deploy space mining processes. Space has ample water and metal resources, which is further expected to enable large-scale exploration, thereby creating new avenues for market growth. However, the process is still in the prototype stage and is yet to be implemented.
With rapid progress made in field of science and technology, mining activities have increased at a very rapid pace. The earths natural replenishment cycle is unable to meet the current demand, because of which there is a shortage of precious resources such as gold and platinum, which results in the rise in prices of these metals.
Key Findings of the Asteroid Mining Market:
In 2017, the space-craft design sub-segment generated the highest revenue in the global asteroid mining market.
In 2017, the 3D printing segment generated the highest revenue among the applications in the global asteroid mining market.
The major players operating in the global asteroid mining market are Asteroid mining Company, Bradford, iSpace, Kleos Space S.A, Planetary Resources, SpaceFab.US, Sierra Nevada Corporation, Offworld, and Virgin Galactic. These key players have adopted product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaboration to enhance their market penetration.
The global asteroid mining market is expected to grow exponentially during the forecast period. The market growth is expected to be positively influenced by growing traces of metals, water, and fuel in the space along with increased emphasis of government on carrying out several space situational awareness programs. Space mining is projected to create new opportunities particularly in the Middle East & Africa over the next few years. The market growth is also attributed to the increase in R&D investments by the large players to deploy space mining processes. Space has ample water and metal resources, which is further expected to enable large-scale exploration, thereby creating new avenues for market growth. However, the process is still in the prototype stage and is yet to be implemented.
With rapid progress made in field of science and technology, mining activities have increased at a very rapid pace. The earths natural replenishment cycle is unable to meet the current demand, because of which there is a shortage of precious resources such as gold and platinum, which results in the rise in prices of these metals.
Key Findings of the Asteroid Mining Market:
In 2017, the space-craft design sub-segment generated the highest revenue in the global asteroid mining market.
In 2017, the 3D printing segment generated the highest revenue among the applications in the global asteroid mining market.
The major players operating in the global asteroid mining market are Asteroid mining Company, Bradford, iSpace, Kleos Space S.A, Planetary Resources, SpaceFab.US, Sierra Nevada Corporation, Offworld, and Virgin Galactic. These key players have adopted product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaboration to enhance their market penetration.
Note: Product cover images may vary from those shown
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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