Asteroid Mining Market Projected Growth Rate Through 2023-2032

The Asteroid Mining Global Market Report 2023, provides comprehensive information on the asteroid mining market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

 

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As per The Business Research Company’s Asteroid Mining Global Market Report 2023, the global asteroid mining market size is expected to grow from $1.11 billion in 2022 to $1.38 billion in 2023 at a compound annual growth rate (CAGR) of 23.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the asteroid mining market is expected to grow to $3.11 billion in 2027 at a CAGR of 22.5%.

 

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Technological advancements and innovations are the key trends gaining popularity in the asteroid mining market. Major companies are developing innovative products to meet industry demands and strengthen their business presence in the asteroid mining market. For instance, in April 2021, Shenzhen Origin Space Technology Co., Ltd., a China-based private space resource company, launched its first mining satellite, NEO-01, into orbit. The satellite would concentrate on low-Earth orbit space debris cleaning and prototype technologies using IEEE spectrum in verification for space resource collection, as well as show potential asteroid defence capabilities. The NEO-01 satellite is also outfitted with a wide-angle camera and other onboard cameras. The onboard camera is expected to document the whole mission implementation procedure.

 

The asteroid mining market is segmented:

1) By Phase: Space-Craft Design, Launch, and Operations

2) By Asteroid: Type C, Type S, Type M

3) By Application: Construction, Resource Harvesting, and 3D Printing

 

North America was the largest region in the asteroid mining market in 2022.

 

The table of contents in TBRC’s asteroid mining market report includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis

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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

 

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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.

 

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