PUBLISHER: IMARC | PRODUCT CODE: 1754129
PUBLISHER: IMARC | PRODUCT CODE: 1754129
The global asteroid mining market size reached USD 2.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 9.3 Billion by 2033, exhibiting a growth rate (CAGR) of 16.09% during 2025-2033.
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.
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.
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.