Increasing initiatives by private companies, governments, and space research organizations has been resulting in rapid adoption of space or asteroid mining activities globally. Asteroid belt is expected to contain $700 quintillion worth of precious metals, minerals, iron, nickel, and other resources. Moon contains samarium, yttrium, helium-3, and lanthanum, while Mars contains an abundance of titanium, aluminum, magnesium, chromium, iron, and trace amounts of tungsten, lithium, cobalt, and other metals.
Ongoing research and development activities, government and private investments in the area of space mining is expected to positively impact revenue growth of the market over the forecast period. This is resulting in increasing number of space related activities such as data collection service by space startups using small satellites, asteroid mining techniques, and communication services on space debris. For instance, Axelspace, Tokyo startup is working on microsatellite business that is designed to provide space images.
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Some major players in the market research report include, Bradford, Moon Express, ispace, Asteroid Mining Corporation Limited, Kleos Space (Luxembourg), SpaceFab.US, TransAstra, Shackleton Energy Company, and OffWorld
Market Overview:
The research report on the Space Mining market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Space Mining business sphere.
Segmental Analysis
The global Space Mining market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Space Mining sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
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Some Key Highlights From the Report:
- On the basis of type of asteroid, the market report is segmented into C -Type (Carbonaceous), S -Type (Stony), and M – Type (Metallic). Among these, the The S -Type (Stony) segment is expected to register a significantly rapid revenue CAGR during the forecast period. According to National Aeronautics and Space Administration (NASA), a small, 10-meter (yard) S-type asteroid contains about 1,433,000 pounds (650,000 kg) of metal, with about 110 pounds (50 kg) in the form of rare metals including gold and platinum.
- On the basis of commodity resources, the market report is segmented into water, platinum group materials, and structural elements. The platinum group materials segment is expected to register largest revenue share over the forecast period as space industries are focusing on exploration of materials for developing industrial capability in space, refueling spacecraft, and enable settlement.
- On the basis of application, the market report is segmented into extra-terrestrial commodity, human life sustainability, construction, fuel, and others. Among these, extra-terrestrial commodity segment is expected to register robust revenue CAGR during the forecast period as space industries are now emphasizing on building spacecraft or develop an industrial capability in space colony to lower down transportation and extraction costs.
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Emergen Research has segmented the global smart space market on the basis of type, component, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
- Smart Indoor Space
- Smart Outdoor Space
Component Outlook (Revenue, USD Billion; 2018–2030)
- Solutions
- Services
Application Outlook (Revenue, USD Billion; 2018–2030)
- Energy Management and Optimization
- Emergency Management
- Security Management
- Layout and Space Management
End-Use Outlook (Revenue, USD Billion; 2018–2030)
- Residential
- Commercial
- Utility
- Transportation & Logistic
- Retail
- Manufacturing
- Government
- Healthcare
- Education
- Others
Regional Outlook (Revenue, USD Billion; 2018–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
Report Highlights:
- The report conducts a comparative assessment of the leading market players participating in the global Space Mining market.
- The report marks the notable developments that have recently taken place in the Space Mining industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Space Mining market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market.
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