Space Mining Market

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MarketsandMarkets Research Private Ltd.
Presents
Space Mining Market worth 2.84 billion by 2025
with a growing CAGR of 23.6
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pace-mining-market-129545886.html
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According to the market research report "Space
Mining Market by Phase (Spacecraft Design,
Launch, and Operation), Type of Asteroid (C-Type,
M-Type, S-Type), Application (Construction, Fuel,
and Others), Asteroid Distance, Commodity
Resources, and Geography - Global Forecast to
2025", the space mining market, the overall
market is estimated to grow from USD 0.65 billion
in 2018 to USD 2.84 billion by 2025, at a CAGR of
23.6. Ongoing and impending space mining
missions, increasing investments by private
stakeholders in space mining companies, and
growing number of government initiatives to frame
regulations with respect to asteroid mining are
the key factors driving the space mining market
growth. Browse gtgt 27 Market
data tables 45 figures
113 pages and in-depth TOC on
Space Mining Market https//www.marketsandmark
ets.com/Market-Reports/space-mining-market-1295458
86.html Early buyers will receive 10
customization on this report. https//www.market
sandmarkets.com/PressReleases/space-mining.asp
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The spacecraft design segment to dominate the
space mining market, based on phase, during the
forecast period A spacecraft is mainly used for
various purposes, such as communications, earth
observation, meteorology, navigation, space
colonization, planetary exploration, and
transportation of humans and cargo. The design of
the spacecraft has vital importance as the
spacecraft has to sustain in critical or extreme
conditions in space, such as microgravity. The
spacecraft design segment accounts for a major
market share as the spacecraft consists of a
number of components, such as spacecraft
instruments, altitude control systems, and
electric power systems. C-type asteroids to
dominate the space mining market in the near
future Type C asteroids are carbonaceous
asteroids, and the surfaces of these asteroids
are almost coal-black. These asteroids contain
large quantities of carbon molecules, and more
usual rocks and metals. These meteorites are
chippings, smashed off during collisions between
asteroids. These asteroids are dark with an
albedo of 0.030.09.  As C-type asteroids contain
large amounts of ice-water, many missions are
likely to target C-type asteroids. For instance,
JAXAs DESTINY mission is expected to be launched
in 2022, which would be targeting asteroid
Phaethon a C-type asteroid.
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The US to dominate the space mining market
during the forecast period As the space industry
is undergoing profound transformation and the
national budgets of various countries have begun
to squeeze and are more dependent on the private
sector, it is observed that many countries want
the private sector to indulge in space
activities. The market growth is attributed to
the rise in government initiatives to frame laws
for space exploration activities, increased
investment of private players in space mining
companies, such as DSI and Planetary resources,
and growth in numbers of missions to asteroids by
NASA and private players. The US government
updated US commercial space legislation with the
passage of the Spurring Private Aerospace
Competitiveness and Entrepreneurship (SPACE) Act
of 2015 (also known as Commercial Space Launch
Competitiveness Act) in November 2015. This law
explicitly allows US citizens to engage in the
commercial exploration and exploitation of space
resources, such as water and minerals. Research
activities based on space mining are primarily
supported by NASA. NASA has announced many
programs for various prospecting asteroid
missions, which can gather the data from an
asteroid and use it for further mining
process. Major players and space agencies in the
space mining market include 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) OffWorld
(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).
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pace-mining.asp
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