The Global report titled “Space Mining Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.
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The Space Mining Market is expected to grow from US$ 0.65 Billion in 2018 to US$ 2.84 Billion by 2023, at a CAGR of 23.6%.
Top Companies profiled in the Space Mining Market include are Deep Space Industries (US); Planetary Resources (US); Moon Express (US); ispace (Japan); Asteroid Mining Corporation (UK); Shackleton Energy Company (SEC, US); Kleos Space (Luxembourg); TransAstra (US); Off World (US); SpaceFab.US (US); National Aeronautics and Space Administration (NASA, US); European Space Agency (ESA, France); Japan Aerospace Exploration Agency (JAXA, Japan); China National Space Administration (CNSA, China); and Russian Federal Space Agency (ROSCOSMOS, Russia).
“The market for the spacecraft design phase to grow at the fastest rate during the forecast period”
The space mining market for the spacecraft design phase is expected to grow at the highest CAGR during the forecast period. A spacecraft is a vehicle machine designed to fly in outer space. It used for various purposes, such as communications, earth observation, meteorology, navigation, space colonization, planetary exploration, and transportation of humans and cargo. Depending on the mission type, the overall spacecraft is designed, consisting of various devices, such as instruments (which include radiometers, spectrometers, thermal emission and reflection systems, cameras, magnetometers, and multispectral scanners, among others), altitude control systems, and electric power systems.
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“Type M asteroids expected to grow at the highest CAGR in the space mining market during the forecast period”
Type M asteroids are metallic asteroids and are made of rare metals, such as the platinum group metals (PGM). These asteroids dwell in the middle region of the main belt in between S-type and C-type asteroids and have albedos varying from 0.10 to 0.18. These asteroids account for nearly 8% of the known asteroids. Examples of M-type asteroids include 16 Psyche, 21 Lutetia, 22 Kalliope, and 55 Pandora, among others. Type M asteroid would grow at the highest CAGR during the forecast period.
Breakdown of primary participants’ profile:
- By Company Size: Tier 1 = 55%, Tier 2 = 25%, and Tier 3 = 20%
- By Designation Level: C-Level Executives = 45%, Directors = 35%, and Others = 20%
- By Region: North America = 75%, Europe = 15%, and APAC = 10%
The Objective of the report is to provide a detailed analysis of the market based on phase, type of asteroid, and region. The report also includes qualitative information on different types of commodity resources available in space, categorization of asteroids based on their distance from earth, applications of space mining, and space and on-earth utilization of space-mined materials. The report forecasts the market, in terms of value, for various segments with regard to geographies, namely, the US, Europe, and Japan.
Target Audience for Space Mining Market:
- Raw material vendors
- Component and hardware providers
- Original equipment manufacturers (OEMs)
- Space mining companies
- Space agencies
- Technology standards organizations, forums, alliances, and associations
- Governments, financial institutions, and investment communities
- Research organizations
- Analysts and strategic business planners
- Venture capitalists, private equity firms, and startup companies
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