Market Overview:

The global asteroid mining market size reached US$ 1.34 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.75 Billion by 2027, exhibiting a growth rate (CAGR) of 21.70% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Asteroid mining is the extraction of minerals and other raw materials, such as silver, gold, rhodium, nickel, aluminum, manganese, iron, and cobalt, from minor planets and asteroids in the outer space. It contributes to a sustainable environment as minerals mined in space are used as rocket propellants or construction materials. It is performed in the asteroids to reduce the cost of transporting minerals into the orbit of the Earth. In addition, it enables the large-scale exploration of water and platinum for use in the expanding economy.

Asteroid Mining Market Trends:

There is currently a rise in the number of ongoing space missions for advancements in health and medicine, public safety, energy and environment, information and technology (IT), and industrial productivity. This, along with the growing application of 3D printing as it helps increase flexibility in the production flow and reduce industrial expenses, represents one of the key factors driving the market. Moreover, governments of several countries are undertaking initiatives to promote asteroid mining as the limited resources of the Earth are declining with the growing world population. This, coupled with increasing investments by private stakeholders in asteroid mining, is propelling the growth of the market. Additionally, the rising adoption of In-Situ Resource Utilization (ISRU) practice in space exploration, which helps collect, process, store, and use resources found on asteroids, is positively influencing the market. Besides this, key market players are extensively investing in research and development (R&D) activities to install enhanced space mining methods. They are also focusing on partnerships, mergers, and collaborations, which are strengthening the growth of the market. Additionally, the rising utilization of asteroid mining in construction activities, extraterrestrial commodity, fuel, and human life sustainability is projected to bolster the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global asteroid mining market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on asteroid type, phase and application.

Breakup by Asteroid Type:

• Type C
• Type S
• Type M
• Others
   

Breakup by Phase:

• Spacecraft Design
• Launch
• Operation
   

Breakup by Application:

• Construction
• Resource Harvesting
• 3D Printing
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Asteroid Mining Corporation Limited, Moon Express Inc., OffWorld, Shackleton Energy Company, SpaceFab.US Inc. and Trans Astronautica Corporation.

Report Coverage:

Key Questions Answered in This Report:

• How has the global asteroid mining market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global asteroid mining market?
• What are the key regional markets?
• What is the breakup of the market based on the asteroid type?
• What is the breakup of the market based on the phase?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global asteroid mining market and who are the key players?
• What is the degree of competition in the industry?