Space Mining Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Space mining also known as asteroid mining is a process that is involved in exploitation of raw materials from asteroids and other minor planets, as well as near-Earth objects. Minerals are extracted from a spent comet or asteroid, then taken back to Earth or utilized in space for construction materials.

MARKET SCOPE

The "Global Space Mining Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the space mining market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading space mining market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on type, the global space mining market is bifurcated into asteroid mining and martian mining.
  
•   On the basis of application the market is segmented into construction, fuel, and others.
  

MARKET DYNAMICS

Drivers

•   The key factors propelling the growth of the space mining market are increasing government initiatives and investments to frame regulations for asteroid mining and impending and ongoing space mining missions.
  
•   Further, government initiatives resulting in rising number of start-ups and adoption of In-Situ Resource Utilization (ISRU) practice in space exploration are anticipated to provide growth opportunities over the next few years.
  

Restraints

•   High costs of asteroid mining and huge environmental risks due to mining activities are some of the restraints that are hindering the market growth.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The space mining market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the space mining market in these regions.

IMPACT OF COVID-19 ON SPACE MINING MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the space mining market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from space mining market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the space mining market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Asteroid Mining Corporation Limited
  
•   Air Space and Beyond
  
•   Bradford Space
  
•   ConsenSys
  
•   Kleos Space S.A.
  
•   OffWorld, Inc
  
•   Planetoid Mines Company
  
•   Shackleton Energy Company
  
•   SpaceFab
  
•   Trans Astronautica Corporation
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Space Mining Report Scope