Asteroid Mining Global Market Report 2024

Description

Asteroid Mining Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on asteroid mining market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for asteroid mining? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The asteroid mining market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Phase: Space-Craft Design; Launch; Operations
2) By Asteroid: Type C; Type S; Type M
3) By Application: Construction; Resource harvesting; 3D Printing
Companies Mentioned: Asteroid Mining Corporation Limited; Bradford Space Inc.; iSpace Inc.; Kleos Space SA; Moon Express Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Asteroid mining involves the extraction of minerals and other raw materials from small planets and asteroids in space. These asteroids are celestial bodies made of rock and metal that orbit the sun, and they are remnants of collapsed planetary bodies or protoplanets.

The primary types of asteroids targeted for mining are categorized as type C, type S, and type M. A type C asteroid is characterized by its black color and represents more than 75% of all known asteroids. The various phases of asteroid mining encompass spacecraft design, launch, and operational activities. This mining process finds applications in diverse fields such as construction, resource harvesting, and 3D printing.

The asteroid mining market research report is one of a series of new reports from The Business Research Company that provides asteroid mining market statistics, including the asteroid mining industry's global market size, regional shares, competitors with an asteroid mining market share, detailed asteroid mining market segments, market trends and opportunities, and any further data you may need to thrive in the asteroid mining industry. This asteroid mining market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The asteroid mining market size has grown exponentially in recent years. It will grow from $1.37 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 23.6%. The observed growth in the historic period can be attributed to various factors, including the evolving landscape of the space industry, the space race and Cold War era that spurred technological advancements, conceptualization and feasibility studies related to asteroid mining, scientific research, exploration missions, and the advocacy for space mining initiatives. These elements collectively played a significant role in shaping the growth trajectory of asteroid mining during the historic period.

The asteroid mining market size is expected to see exponential growth in the next few years. It will grow to $3.79 billion in 2028 at a compound annual growth rate (CAGR) of 22.3%. The anticipated growth in the forecast period can be attributed to various factors, including the development of infrastructure supporting space activities, a reduction in launch costs, increased scientific exploration of celestial bodies, growing environmental concerns on Earth, the pursuit of space colonization and sustainability, and the potential for space-based manufacturing. Major trends expected in the forecast period include concerns about resource scarcity on Earth, a rise in space exploration initiatives, advancements in space infrastructure, the demand for rare metals, and ongoing technological innovation for the extraction of resources from asteroids and other celestial bodies.

The surge in space missions conducted by both government entities and private space companies is anticipated to be a driving force behind the growth of the asteroid mining market. Space missions involve the deployment of manned or unmanned vehicles into space for the collection of scientific data. These missions play a crucial role in identifying suitable asteroids for mining, particularly those containing valuable platinum group metals. The data obtained from these missions, encompassing location, environmental conditions, and travel time, aids in the meticulous selection of asteroids suitable for mining activities. The escalation in space missions, as highlighted by the United Nations Office for Outer Space Affairs in January 2022, with 1,674 objects launched into orbit in 2021 compared to 1,273 in 2020, underpins the increased demand for asteroid mining. Consequently, the heightened pursuit of space missions by government bodies acts as a catalyst for propelling growth within the asteroid mining market.

The proliferation of satellite deployment stands poised to drive the growth of asteroid mining in the foreseeable future. Satellites, intentionally placed into orbit around celestial bodies like Earth, serve diverse functions encompassing communication, weather monitoring, scientific research, and more. Incorporating asteroid mining into satellite construction facilitates access to rare resources pivotal for manufacturing and fuel production, thereby contributing to sustainable space exploration endeavors. As per data from GEOSPATIAL MEDIA AND COMMUNICATIONS in 2023, managed by the United Nations Office for Outer Space Affairs, Earth is currently orbited by 8,261 individual satellites, marking an 11.84% rise from April 2021. This upsurge in satellite deployment substantiates the impetus driving the asteroid mining market forward.

Technological advancements and pioneering innovations emerge as pivotal trends gaining traction within the asteroid mining market. Leading companies are actively engaged in developing groundbreaking products to meet industry demands while fortifying their market presence in asteroid mining. For instance, in April 2021, Shenzhen Origin Space Technology Co., Ltd., a China-based private space resource company, launched its maiden mining satellite, NEO-01, into orbit. This satellite is primarily dedicated to low-Earth orbit space debris cleaning, prototype technologies for space resource collection, and potential asteroid defense capabilities. Equipped with a wide-angle camera and other onboard cameras, NEO-01 is poised to document the entire mission implementation process, representing a significant stride in technological innovation within the realm of asteroid mining.

Prominent companies within the asteroid mining sector are actively securing investments to spearhead new missions. For instance, in May 2022, AstroForge, a California-based asteroid mining firm, successfully secured a substantial $13 million startup investment. The company has outlined plans for a test voyage to space, aiming to establish itself as the pioneering sustainable asteroid mining entity. Utilizing novel asteroid processing technologies developed and tested by AstroForge, the scheduled test mission, set to embark on a SpaceX Falcon 9 rocket, will serve as a crucial trial for the company's platinum purification technique from asteroid-like material.

In a significant move during January 2022, Blue Origin, a renowned US-based aerospace company, undertook the acquisition of Honeybee Robotics for an undisclosed sum. This strategic acquisition is poised to amalgamate the distinct capabilities of both entities, paving the way for novel opportunities and innovations in specialized space mechanisms. With this acquisition, Blue Origin seeks to broaden its portfolio and fortify its position in the domain of asteroid mining. Honeybee Robotics, a US-based asteroid mining company, is set to contribute its expertise and resources towards propelling Blue Origin's ventures within the asteroid mining sphere, leveraging their combined strengths to drive innovative advancements in this field.

Major companies operating in the asteroid mining market report are Asteroid Mining Corporation Limited, Bradford Space Inc., iSpace Inc., Kleos Space SA, Moon Express Inc., Planetary Resources Inc., SpaceFab US Inc., OffWorld Inc., Virgin Galactic Holdings Inc., Sierra Nevada Corporation, Trans Astronautica Corporation, Deltion Innovations Ltd., The Boeing Company, The Indian Space Research Organisation, Northrop Grumman Corporation, Deep Space Industries Inc., TransAstra Corporation, Origin Space Inc., Karman+ Inc., AstroForge Inc., Honeybee Robotics Ltd., Masten Space Systems Inc., Astrobotic Technology Inc., Blue Origin LLC, Lockheed Martin Corporation, Space Exploration Technologies Corp., Orbital ATK Inc., Thales Alenia Space, Airbus Defence and Space, Mitsubishi Electric Corporation, OHB SE, Ball Aerospace & Technologies Corp., Maxar Technologies Inc.

North America was the largest region in the asteroid mining market in 2023. The regions covered in the asteroid mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the asteroid mining market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The asteroid mining market includes revenues earned by entities by providing mining services used in mineral extraction, transportation, ore refining, and other services such as solar-powered generators and industrial robots. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r12473

1. Executive Summary

2. Asteroid Mining Market Characteristics

3. Asteroid Mining Market Trends And Strategies

4. Asteroid Mining Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Asteroid Mining Market Size and Growth

5.1. Global Asteroid Mining Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Asteroid Mining Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Asteroid Mining Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Asteroid Mining Market Segmentation

6.1. Global Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Space-Craft Design
Launch
Operations
6.2. Global Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Type C
Type S
Type M
6.3. Global Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Construction
Resource harvesting
3D Printing

7. Asteroid Mining Market Regional And Country Analysis

7.1. Global Asteroid Mining Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Asteroid Mining Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Asteroid Mining Market

8.1. Asia-Pacific Asteroid Mining Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Asteroid Mining Market

9.1. China Asteroid Mining Market Overview
9.2. China Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Asteroid Mining Market

10.1. India Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Asteroid Mining Market

11.1. Japan Asteroid Mining Market Overview
11.2. Japan Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Asteroid Mining Market

12.1. Australia Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Asteroid Mining Market

13.1. Indonesia Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Asteroid Mining Market

14.1. South Korea Asteroid Mining Market Overview
14.2. South Korea Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Asteroid Mining Market

15.1. Western Europe Asteroid Mining Market Overview
15.2. Western Europe Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Asteroid Mining Market

16.1. UK Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Asteroid Mining Market

17.1. Germany Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Asteroid Mining Market

18.1. France Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Asteroid Mining Market

19.1. Italy Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Asteroid Mining Market

20.1. Spain Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Asteroid Mining Market

21.1. Eastern Europe Asteroid Mining Market Overview
21.2. Eastern Europe Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Asteroid Mining Market

22.1. Russia Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Asteroid Mining Market

23.1. North America Asteroid Mining Market Overview
23.2. North America Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Asteroid Mining Market

24.1. USA Asteroid Mining Market Overview
24.2. USA Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Asteroid Mining Market

25.1. Canada Asteroid Mining Market Overview
25.2. Canada Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Asteroid Mining Market

26.1. South America Asteroid Mining Market Overview
26.2. South America Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Asteroid Mining Market

27.1. Brazil Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Asteroid Mining Market

28.1. Middle East Asteroid Mining Market Overview
28.2. Middle East Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Asteroid Mining Market

29.1. Africa Asteroid Mining Market Overview
29.2. Africa Asteroid Mining Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Asteroid Mining Market, Segmentation By Asteroid, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Asteroid Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Asteroid Mining Market Competitive Landscape And Company Profiles

30.1. Asteroid Mining Market Competitive Landscape
30.2. Asteroid Mining Market Company Profiles
- 30.2.1. Asteroid Mining Corporation Limited
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Bradford Space Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. iSpace Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Kleos Space SA
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Moon Express Inc.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Asteroid Mining Market Competitive Benchmarking

32. Global Asteroid Mining Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Asteroid Mining Market

34. Asteroid Mining Market Future Outlook and Potential Analysis

34.1 Asteroid Mining Market In 2028 - Countries Offering Most New Opportunities
34.2 Asteroid Mining Market In 2028 - Segments Offering Most New Opportunities
34.3 Asteroid Mining Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer