Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!

How has the asteroid mining market grown over the years?

The market size for asteroid mining has seen a significant surge in growth in recent years. Its expansion is expected to rise from $1.68 billion in 2024 to $2.07 billion in 2025, boasting a compound annual growth rate (CAGR) of 23.4%. Factors such as the developing dynamics of the space industry, the space race together with the cold war era, ideation and feasibility assessments, scientific investigations and exploration missions, and advocates of space mining can be credited for the growth during the historic phase.

What Is the forecasted market size and growth rate for the asteroid mining market?

It is anticipated that the asteroid mining market will undergo rapid expansion in the coming years, reaching a value of $4.56 billion in 2029 with a compound annual growth rate (CAGR) of 21.8%. Factors contributing to the growth during this period include infrastructure improvements, slashed launch costs, scientific exploration, addressing environmental concerns, establishment of colonies in space, and enhanced sustainability and manufacturing in space. The shortage of resources on Earth, the rise in space exploration efforts, progress in space infrastructure, the need for uncommon metals, and technological advancements for extraction will all be major trends in this period.

Get your asteroid mining market report here!

https://www.thebusinessresearchcompany.com/report/asteroid-mining-global-market-report

What are the major factors driving growth in the asteroid mining market?

The asteroid mining market is forecasted to grow owing to the rise in space missions by various government entities and space corporations. These missions, which could involve the deployment of either human-operated or automated vehicles into the cosmos, are designed to gather scientific data and identify asteroids rich in platinum group metals suitable for mining. Crucial information such as the asteroid’s location, its environment, and the travel time to reach it aids in determining the right asteroid to mine. Consequently, an uptick in space missions directly increases the need for asteroid mining. The Indian Space Research Organization (ISRO), a national space agency based in India, reported a 24% rise from 2533 to 3143 in the number of objects launched into space in 2023 by the global community. Moreover, in March 2024, the UK’s scientific online platform, Our World in Data (OWID), recorded a further increase in object launches in 2023, breaking the previous year’s record with the US agencies and consortiums contributing 2166 launches, equivalent to 81% of the worldwide total. Therefore, the surge in space missions undertaken by government bodies contributes to the expansion of the asteroid mining market.

What key areas define the segmentation of the global asteroid mining Market?

The asteroid mining market covered in this report is 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

Subsegments:

1) By Space-Craft Design: Conceptual Design, Engineering And Prototyping, System Integration

2) By Launch: Launch Vehicle Selection, Launch Services, Mission Planning And Coordination

3) By Operations: Mining Operations, Resource Processing, Data Collection And Analysis, Transportation Of Resources

Get your free sample now – explore exclusive market insights:

https://www.thebusinessresearchcompany.com/sample.aspx?id=8284&type=smp

What are the top market players propelling the growth of the asteroid mining industry?

Major companies operating in the asteroid mining market are Asteroid Mining Corporation Limited, Bradford Space Inc., iSpace Inc., Kleos Space SA, Moon Express Inc., Planetary Resources Inc., SpaceFab US Inc., OffWorld 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.

What are the key trends shaping the future of the asteroid mining market?

Progress in technology and innovation is shaping the asteroid mining industry, with major corporations establishing their footprint by creating cutting-edge products. Asteroid Mining Corporation (AMC), a UK-based private company focused on exploiting asteroids for resources, launched SCAR-E (Space Capable Asteroid Robotic Explorer) robot at the Space Economy Summit in Los Angeles in October 2023. SCAR-E, a six-legged robot weighing 20 kilograms, is engineered to adapt both on Earth and in space, outperforming conventional wheeled robots navigating difficult terrains. Outfitted with the latest material detection and processing technology, SCAR-E can revolutionize resource mining and decrease conventional mining’s negative environmental effects. The robot aims to assist asteroid prospecting and lunar investigation, targeting deployment in the early 2030s.

Unlock exclusive market insights – purchase your research report now for a swift delivery!

https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8284

What regions are dominating the asteroid mining market growth?

North America was the largest region in the asteroid mining market in 2024. The regions covered in the asteroid mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Browse Through More Similar Reports By The Business Research Company:

Mining Support Activities Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/mining-support-activities-global-market-report

Space Situational Awareness Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/space-situational-awareness-global-market-report

Mining Machinery And Equipment Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/mining-machinery-and-equipment-global-market-report

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: