Asteroid Mining Global Market 2024 To Reach $3.79 Billion By 2028 At Rate Of 22.3%

The Business Research Company’s Asteroid Mining Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 8, 2024 /EINPresswire.com/ -- The asteroid mining market has experienced robust growth in recent years, expanding from $1.37 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 23.6%. The growth in the historic period can be attributed to evolving space industry landscape, space race and cold war era, conceptualization and feasibility studies, scientific research and exploration missions, space mining advocates.

What Is The Estimated Market Size Of The Global Asteroid Mining Market And Its Annual Growth Rate?
The asteroid mining market is projected to continue its strong growth, reaching $3.79 billion in 2028 at a compound annual growth rate (CAGR) of 22.3%. The growth in the forecast period can be attributed to development of infrastructure, reduction in launch costs, scientific exploration, environmental concerns, space colonization and sustainability, space-based manufacturing.

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Growth Driver Of The Asteroid Mining Market
The increased satellite deployment is expected to propel the growth of the asteroid mining going forward. A satellite is a human-made object intentionally placed into orbit around a celestial body, usually Earth, to serve various purposes such as communication, weather monitoring, navigation, scientific research, or reconnaissance. Asteroid mining in satellite construction enables access to rare resources for manufacturing and fuel production, contributing to sustainable space exploration.

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Who Are the Leading Competitors in the Asteroid Mining Market Share?
Key players in the market include 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.

Which Key Trends Are Driving Asteroid Mining Market Growth?
Major companies in the asteroid mining market raising investments to launch new missions. For instance, in May 2022, AstroForge, a California-based asteroid mining company, secured $13 million in startup investment and has scheduled a launch for a test voyage to space.

How Is The Global Asteroid Mining Market Segmented?
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

Geographical Insights: North America Leading The Asteroid Mining Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Asteroid Mining Market Definition
Asteroid mining is the extraction of minerals and other raw materials from small planets and asteroids in space. Asteroids are stone and metallic bodies that circle the sun. These bodies are the leftovers of collapsing planetary bodies, or protoplanets.

Asteroid Mining Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global asteroid mining market report covering trends, opportunities, strategies, and more
The Asteroid Mining Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on asteroid mining market size, asteroid mining market drivers and trends, asteroid mining market major players and asteroid mining market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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