24 March 2021
Visiongain has published a new report on Space Mining Market Report to 2031: Forecasts by Phase (Spacecraft Design, Launch, and Operation), Type of Asteroid (Type C, Type S, and Type M), By Application (Extraterrestrial Commodity, Construction, Human Life Sustainability, Fuel, and 3d Printing). PLUS, Profiles of Leading Space Mining Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios
Global Space Mining market was valued at US$ xx billion in xx and is projected to reach at a market value of US$ xx billion by 2031
COVID-19 Impact on Space Mining Market
The COVID-19 pandemic has impacted lives of people all around the globe. It has proved quite detrimental for business across the globe and no industry and remained untouched by its impacts. This pandemic has caused a serious disruption in the supply chain and has resulted in a huge supply-demand gap in the market for space mining worldwide
Ongoing and Impending Space Mining Missions
The space mining market stood at 712 million U.S. dollars in 2017 and is expected to account to around 3.87 billion U.S. dollars in 2025 (according to Statista). The market value of space mining drives the development of innovative technologies and spaceship designs, which are anticipated to boost the space missions for the purpose of mining of raw materials in the future.
Increasing Investments and Government Initiatives to Frame Regulations with Respect to Asteroid Mining
Important factors, for instance, the rise in number of government steps in framing the regulations regarding mining of asteroids and implementation of In-Situ Resource Utilization (ISRU) practices in space exploration developments are anticipated to provide lucrative opportunities for the market over the forecast period.
Government Initiatives Resulting in Growing Number of Start-Ups
Increasing government initiatives to boost the space mining industry, for instance, the Luxembourg space mining law and the Commercial Space Launch Competitiveness Act, which were approved in line with the Space Resources initiatives are expected to be one of the main driving factors for the market growth during the forecast period.
The market is in its early stages, with most of the progress expected to come only in the next decades. Some of the companies profiled in the report include Deep Space Industries (DSI), Planetary Resources, Moon Express, Ispace, Asteroid Mining Corporation, Shackleton Energy Company (SEC), Kleos Space, Transastra, Offworld, and Spacefab.Us.
• In October 2018, Planetary Resources,Inc., a pioneer in the asteroid mining industry, was acquired by ConsenSys, a Brooklyn-based blockchain company
• In January 2019, Deep Space Industries was acquired by Bradford Space
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