The Global Space Mining Market size is estimated to reach $52.9 Million by 2026, growing at a CAGR of 10.1% over the forecast period of 2022-2026. Exploiting asteroids and other minor planets, including near-Earth objects, for raw minerals is called space mining. Minerals are extracted from an asteroid or a spent comet, used in space for construction, or returned to Earth. Different mining minerals' technology and economic viability beyond Earth are quickly approaching. In addition, the Internet of Things (IoT), electric vehicles (EVs), and utility-scale electric production and storage are all driving up demand for rare earth elements (REEs).

Market Dynamics
Driver:
Better technological developments in space technology are driving the market demand
The rise of the space mining business has been spurred by a mix of better technology, lower costs, and a rush of competitive energy from the private sector. Indeed, many observers (even those on the ground) feel that commercial breakthroughs in the space sector are on the verge of kicking off the world's most incredible resource rush: mining on the Moon, Mars, and asteroids.
Challenge:
Increased costs associated with asteroid mining are set to limit the market growth.
Increased expenses associated with asteroid mining and prospecting missions and delayed returns on investment are among the primary factors limiting market growth and posing further challenges to the space mining industry over the projection period.

Key Market Players
Key Players in Global Space Mining Market consist of Deep Space Industries, Planetary Resources, Moon Express, ispace, Asteroid Mining Corporation (UK); Shackleton Energy Company, Kleos Space, TransAstra, National Aeronautics, and Space Administration, European Space Agency, among others.

Developments
Bradford, a US-based space systems manufacturer with operations in the Netherlands and Sweden, announced the acquisition of Deep Space Industries Inc. in January 2019. The market is projected to become even more consolidated due to these purchases.
Report Coverage and Scope
The report "Global Space Mining Market" by Research Informatic covers an in-depth detailed analysis for the following segment covered under the scope.
By Phase
Spacecraft Design
Launch
Operation
By Type of Asteroid
Type C
Type S
Type M
Geography
North America
Europe
APAC
RoW
TOC:
Chapter 1 Space Mining Market Overview
1.1 Product Overview and Scope of Space Mining
1.2 Space Mining Market Segmentation By Phase
1.2.1 Spacecraft Design
1.2.2 Launch
1.2.3 Operation
TOC Continued…
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