Feb 4, 2022   SOURCE: BusinessWire

Global Space Mining Market (2021 to 2026) - by Phase, Asteroid, Application, and Geography - ResearchAndMarkets.com

The "Global Space Mining Market (2021-2026) by Phase, Asteroid, Application, and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Space Mining Market is estimated to be USD 1.32 Bn in 2021 and is expected to reach USD 3.74 Bn by 2026, growing at a CAGR of 23.19 %

The process of extracting resources and minerals from asteroids and near-Earth objects is known as space mining. The goal of space mining is similar to that of earth mining, which is the exploitation and extraction of valuable commodities and minerals. Minerals can be extracted from an asteroid or spent comet and utilized in space for building or return to Earth. Gold, iridium, silver, osmium, palladium, platinum, nickel, and aluminum are examples of these resources or raw materials.

The factors projected to fuel the growth of the asteroid mining market include ongoing and upcoming space mining missions, increased private stakeholder investments in space mining firms, and the adoption of 3D printing technology in asteroid mining. Furthermore, several dangers related to asteroids mining impede market expansion. Moreover, factors such as an increase in government attempts to develop rules for asteroid mining and the adoption of In-Situ Resource Utilization (ISRU) practices in space research are projected to provide profitable prospects for the industry. Furthermore, increased collaborations, mergers, and partnerships amongst significant players in the global space mining and space technology market are likely to open up new growth prospects in the future years.

However, the high cost of mining and Technical challenges hamper the market's growth.

The Global Space Mining Market is segmented based on Phase, Asteroid, Application, and Geography.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

  • The report offers a comprehensive evaluation of the Global Space Mining Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains the competitive analysis using Positioning Quadrants, the analyst's Proprietary competitive positioning tool.

Market Dynamics

Drivers

  • Current and Future Space Mining Missions
  • Increasing R&D Investment

Restraints

  • High Costs Associated with Space Mining
  • Technical Challenges

Opportunities

  • Government Initiatives Resulting in the Rise of the Start-Ups.
  • Advancement in Space Technology

Challenges

  • Significant Environmental Risks Associated with Landing a Spacecraft on an Asteroid

Companies Mentioned

  • Asteroid Mining
  • Boeing Defense, Space & Security
  • Bradford Space
  • China National Space Administration
  • European Space Agency
  • Indian Space Research Organisation
  • Ispace
  • Japan Aerospace Exploration Agency
  • Kleos Space Inc
  • Moon Express
  • NASA
  • Northrop Grumman Corporation
  • Offworld
  • Planetary Resources
  • Roscosmos State Corporation
  • Shackleton Energy
  • Sierra Nevada
  • SpaceFab
  • SpaceX
  • TransAstra
  • Virgin Galactic

For more information about this report visit https://www.researchandmarkets.com/r/ocbivj