Asteroid Mining Market to Witness an Outstanding Growth During 2017 - 2025

Posted by Jason Lee on September 26th, 2019

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.

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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.

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Jason Lee

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Jason Lee
Joined: September 20th, 2019
Articles Posted: 305

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