Global Space Mining Market Overview:
Space mining refers to exploitation of raw materials from numerous near earth objects and asteroid. These minerals can be used for space construction purpose and be brought to earth for use. Out of all the asteroid, C type Asteroid is dominating the space mining market owing to their composition involves a large quantity of carbon, minerals, and rocks. Further, technological development regarding automated mining techniques such as robotics mining and in-situ resource utilization creating lucrative opportunities for the companies involved in space mining operations as the recent launch of SpaceX’s Falcon Heavy prove to cause disruption and will make the space mining a reality anytime soon. Some of the key players profiled in the study are Deep Space Industries (United States), Planetary Resources (United States), Moon Express (United States), I Space (Japan), Asteroid Mining Corporation (United Kingdom), Shackleton Energy Company (United States), Kleos Space (Luxembourg), Trans Astra (United States), Off World (United States), SpaceLab (United States), National Aeronautics and Space Administration (United States) and European Space Agency (France). According to Market Analyst at AMA, the Global Space Mining market may see a growth rate of 21.95%
On the basis of geography, the market of Space Mining has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Phase, the sub-segment i.e. Spacecraft Design will boost the Space Mining market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Type of Asteroid, the sub-segment i.e. Type C will boost the Space Mining market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Types of Commodity Resources , the sub-segment i.e. Water will boost the Space Mining market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distance from Earth, the sub-segment i.e. Near-Earth Asteroids (NEAs) will boost the Space Mining market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Government Initiatives for Space Exploration Activities
- Increasing Space Mining Operations in Developed Economies
- Growing Automated Techniques Such As Robotic Mining for Space Mining
- High Cost Associated With Space Mining
- Growing Research and Development for In-Situ Resource Utilization
- Space Mining Creating Adverse Effect on Environment
Major Market Developments:
12 September 2018, Luxembourg Space Agency (LSA) started its operations with a goal to boost exploration and commercial application of resources from near earth object.
Space mining market is concentrated owing to the number of companies present in the market. Some of the major companies are National Aeronautics and Space Administration, Deep Space Industries, Planetary Resources, and others. Market leaders are focusing on technological development such as automated mining tools, in-situ resource utilization, robotic and automated factories for space exploration.
Raw material vendors, Component and hardware providers, Original equipment manufacturers (OEMs), Space mining companies, Space agencies, Technology standards organizations, forums, alliances, and associations, Governments, financial institutions, and investment communities, Research organizations, Analysts and strategic business planners, Venture capitalists, private equity firms, and startup companies and Distributors
Major Objectives Focused through this Study
To define, describe, and forecast the Global Space Mining market on the basis of product [Surface mining, Shaft mining, Magnetic rakes, Heating, Mond process and Self-replicating machines] , application [Extraterrestrial Commodity, Construction, Human Life Sustainability and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Space Mining market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Space Mining industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Japan Aerospace Exploration Agency (Japan), China National Space Administration (China) and Russian Federal Space Agency (Russia).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Space Mining market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.