#Asteroid Mining Market size

[shambhavimmr]

The process of taking rich resources from planets, moons, and asteroids for use on Earth or in space exploration is known as space mining. Because Earth's resources are limited, space mining provides access to potentially enormous amounts of precious metals.

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Rocket Propulsion Market By Product Type, By Manufacturers, By End-User And Market Trend Analysis Forecast 2033

The rocket propulsion global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Rocket Propulsion Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size - The rocket propulsion market size has grown rapidly in recent years. It will grow from $6.32 billion in 2023 to $7.22 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to space exploration and satellite launches, military and defense applications, commercial space ventures, scientific research missions, national space programs and agencies..

The rocket propulsion market size is expected to see rapid growth in the next few years. It will grow to $11.58 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to reusable rockets and cost reduction, satellite constellations and broadband connectivity, lunar and mars exploration missions, small satellite propulsion systems, green and sustainable rocket propellants, advanced space tourism initiatives, global space industry expansion.. Major trends in the forecast period include electric and ion propulsion for deep space missions, 3d-printed rocket components, rapid turnaround and launch capabilities, in-space refueling and depot systems, advanced propulsion for asteroid mining, rocket engines for hypersonic travel..

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The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Market Drivers - Increased spending and capital investment by government bodies and space companies are significantly driving the rocket propulsion market. Capital investment refers to the acquisition of physical assets by a company for use in furthering its long-term business goals and objectives. Industries are investing huge capital in space exploration, and product innovation for technological advancements, and government agencies also taking initiatives and allowing them to spend more on research and development and produce more efficient and creative technology. For instance, according to Space Capital LP, a US-based venture capital firm that invests in space-based technologies, with another $7.2 billion invested in the Q1 2022, venture capital invested $17.1 billion into 328 space companies in 2021, accounting for 3% of total global venture capital flows. According to USAspending, a US-based official open data source of federal spending information, in FY 2022, the National Aeronautics and Space Administration (NASA) had $30.44 bn in available budgetary resources distributed among its 1 agency sub-components to drive advances in technology, aeronautics, and space exploration to enhance knowledge and innovation. Therefore, increasing spending and capital investment by government bodies and space companies is predicted to boost demand for rocket propulsion systems during the forecast period.

The rocket propulsion market covered in this report is segmented –

1) By Propulsion Type: Solid, Liquid, Hybrid 2) By Orbit Type: LEO, MEO, GEO, Beyond GEO 3) By Launch Vehicle Type: Manned, Unmanned 4) By End User Type: Civil and Commercial, Military

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Regional Insights - Asia-Pacific was the largest region in the rocket propulsion market in 2023, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the rocket propulsion market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies - Major companies operating in the rocket propulsion market include Aerojet Rocketdyne Holdings Inc., Mitsubishi Heavy Industries Ltd., Space Exploration Technologies Corp., Safran S.A., Blue Origin LLC, Northrop Grumman Innovation Systems Inc., Virgin Galactic Holdings Inc., Rocket Lab USA Inc., United Launch Alliance LLC, Boeing Space Launch System, Lockheed Martin Space Systems Company, Reaction Engines Ltd., Firefly Aerospace Inc., Sierra Nevada Corporation, ExPace Technology Co. Ltd., Relativity Space Inc., Arianespace SA, IHI Corporation, Skyrora Ltd., Masten Space Systems Inc., Gilmour Space Technologies Pty Ltd., ArianeGroup GmbH, Terran Orbital Corporation, PLD Space S.L., Dauria Aerospace, Raptor Aerospace Inc., Axiom Space Inc., CubeCab Services Private Limited, Space Perspective Inc., Stratolaunch Systems Corporation

Table of Contents 1. Executive Summary 2. Rocket Propulsion Market Report Structure 3. Rocket Propulsion Market Trends And Strategies 4. Rocket Propulsion Market – Macro Economic Scenario 5. Rocket Propulsion Market Size And Growth ….. 27. Rocket Propulsion Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix

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[nmsc-market-pulse]

Unveiling the Growth Trajectory of the Commercial Rocket Market

Introduction

The space industry has historically been dominated by government agencies, with space exploration and satellite launches primarily conducted by organizations such as NASA, ESA, and Roscosmos. However, in recent years, there has been a notable shift towards commercialization, with private companies playing an increasingly prominent role in the sector. This transformation has given rise to the commercial rocket market, which encompasses the development, manufacturing, and operation of launch vehicles for a variety of purposes, including satellite deployment, space tourism, and commercial space activities.

According to the study by Next Move Strategy Consulting, the global Commercial Rocket Market size is predicted to reach USD 25.6 billion with a CAGR of 13.9% by 2030.

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Current State of the Commercial Rocket Market

The commercial rocket market has experienced significant growth in recent years, driven by several key factors. One of the primary drivers of market expansion is the increasing demand for satellite launches. The proliferation of communication satellites, earth observation satellites, and navigation satellites has created a burgeoning market for launch services. Private companies such as SpaceX, Rocket Lab, and Arianespace have capitalized on this demand by offering cost-effective and reliable launch solutions tailored to the needs of satellite operators.

Furthermore, the emergence of space tourism as a viable market segment has further fueled the growth of the commercial rocket market. Companies like SpaceX, Blue Origin, and Virgin Galactic are pioneering efforts to make space travel accessible to private individuals. As these companies continue to develop and commercialize reusable launch vehicles, the cost of space tourism is expected to decrease, opening up new opportunities for market expansion.

Additionally, the commercialization of space extends beyond satellite launches and tourism. There is a growing interest in utilizing space resources for commercial purposes, such as asteroid mining and space-based manufacturing. Companies are actively exploring the feasibility of these ventures, laying the groundwork for new revenue streams and market opportunities.

Market Dynamics and Trends

Several key trends are shaping the trajectory of the commercial rocket market. One notable trend is the increasing focus on reusable launch vehicles. Traditionally, rockets have been designed as expendable systems, meaning they are only used for a single launch before being discarded. However, reusable launch vehicles have the potential to significantly reduce the cost of space access by allowing rockets to be recovered and refurbished for future missions. Companies like SpaceX have made significant strides in this area, successfully landing and reusing the first stage of their Falcon 9 rockets multiple times.

Another trend driving market growth is the miniaturization of satellites. Advances in technology have enabled the development of smaller, more lightweight satellites known as CubeSats and SmallSats. These satellites are cheaper to manufacture and launch, making them an attractive option for a wide range of applications, including Earth observation, communications, and scientific research. As the demand for these smaller satellites continues to grow, there is a corresponding increase in demand for launch services capable of deploying them into orbit.

Furthermore, regulatory reforms are also playing a significant role in shaping the commercial rocket market. Governments around the world are revisiting outdated space regulations to foster innovation and investment in the sector. Initiatives such as streamlined launch licensing and the establishment of spaceports are creating a conducive environment for commercial space activities to flourish.

Challenges and Opportunities

Despite the promising outlook, the commercial rocket market is not without its challenges. Technical hurdles, such as ensuring the reliability and safety of launch vehicles, remain a primary concern for industry stakeholders. The failure of a single launch can have far-reaching consequences, including financial losses and damage to reputation. As such, companies must invest heavily in research and development to mitigate these risks and ensure the success of their missions.

Moreover, geopolitical tensions and market competition pose additional challenges to market growth and stability. The space industry is highly competitive, with numerous companies vying for market share and lucrative contracts. This intense competition can lead to price wars, undercutting profit margins and stifling innovation. Additionally, geopolitical factors such as trade disputes and international sanctions can disrupt supply chains and impede market access, further complicating matters for industry players.

However, amidst these challenges lie significant opportunities for growth and innovation. The continued expansion of the commercial satellite market, fueled by advancements in technology and increasing demand for connectivity, presents a wealth of opportunities for launch service providers. Furthermore, the nascent space tourism industry holds immense promise, with the potential to become a multi-billion-dollar market in the coming years. As companies continue to innovate and expand their capabilities, the commercial rocket market is primed for transformational change.

Expanding into new markets beyond low Earth orbit (LEO) presents another avenue for growth in the commercial rocket market. While LEO has been the primary focus for satellite launches and space tourism, there is increasing interest in missions to higher orbits, such as geostationary orbit (GEO) and beyond. These missions require more powerful launch vehicles capable of carrying larger payloads over greater distances, presenting an opportunity for companies to develop and commercialize new technologies.

Additionally, the emergence of mega-constellations, such as SpaceX's Starlink and OneWeb, is driving demand for dedicated launch services capable of deploying hundreds or even thousands of satellites into orbit. These constellations aim to provide global broadband internet coverage, revolutionizing connectivity on a global scale. Launch service providers that can offer reliable and cost-effective solutions for deploying mega-constellations will be well-positioned to capitalize on this growing market segment.

Furthermore, advancements in space manufacturing and in-orbit servicing are opening up new opportunities for commercial activities in space. Companies are exploring the feasibility of manufacturing products in microgravity environments, leveraging the unique properties of space to create materials and products with enhanced properties. In-orbit servicing missions, such as satellite repair and refueling, offer potential cost savings and prolong the operational lifespan of existing assets in space.

Moreover, partnerships and collaborations between government agencies and private companies are driving innovation and investment in the commercial rocket market. Initiatives such as NASA's Commercial Crew Program and Commercial Lunar Payload Services (CLPS) are providing opportunities for companies to develop and demonstrate new technologies for space exploration. By leveraging government expertise and resources, private companies can accelerate the development and commercialization of new capabilities, fostering growth and competitiveness in the industry.

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Furthermore, advancements in propulsion technologies, such as electric propulsion and nuclear thermal propulsion, hold the potential to revolutionize space travel and exploration. Electric propulsion systems offer greater efficiency and endurance compared to traditional chemical rockets, making them well-suited for long-duration missions to distant destinations such as Mars and beyond. Similarly, nuclear thermal propulsion systems promise faster transit times and increased payload capacity, opening up new possibilities for crewed missions to the outer planets and beyond.

In conclusion, the commercial rocket market is on the cusp of a new era of growth and innovation, driven by increasing demand for satellite launches, space tourism, and commercial space activities. By capitalizing on emerging trends and technologies, companies can position themselves for success in this dynamic and rapidly evolving industry. With continued investment and collaboration, the commercial rocket market has the potential to revolutionize space exploration and unlock new opportunities for economic growth and scientific discovery.

Conclusion

In conclusion, the commercial rocket market is poised for exponential growth in the coming years, driven by increasing demand for satellite launches, space tourism, and commercial space activities. As private companies continue to innovate and expand their capabilities, the industry is experiencing a paradigm shift, with new players entering the market and traditional boundaries being redrawn.

However, navigating the complexities and uncertainties inherent in the space sector will require strategic foresight and collaboration among industry players, policymakers, and regulators alike. By addressing key challenges and capitalizing on emerging opportunities, the commercial rocket market is poised to become a cornerstone of the global space economy, unlocking new frontiers of exploration and discovery for generations to come.

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Space Mining Market Key Players, Industry Overview, Application and Analysis to 2024 to 2031

Overview:

The Space Mining Market encompasses various activities related to the exploration, extraction, and processing of resources from space. This includes the development of spacecraft specifically designed for mining operations, the identification of suitable targets like resource-rich asteroids, and the creation of technologies for efficient extraction and processing of materials in space. Currently, the market is primarily focused on near-Earth asteroids, believed to contain valuable resources like platinum, nickel, cobalt, and water ice.

Understanding Space Mining

Space mining, also known as extraterrestrial resource exploitation, involves the extraction and processing of valuable minerals, metals, and other resources from celestial bodies such as asteroids, the Moon, and even planets. While the idea of mining in space may seem far-fetched to some, advancements in space exploration and technology have brought this concept within reach.

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The Promise of Asteroid Mining

Asteroids, rich in precious metals and rare minerals, have become prime targets for space mining endeavors. These celestial bodies, ranging in size from a few meters to several kilometers, hold vast reservoirs of resources waiting to be tapped. Companies like Planetary Resources and Deep Space Industries have spearheaded efforts to explore and exploit these asteroids, envisioning a future where the resources of space fuel innovation and economic growth on Earth.

Lunar Prospecting: Tapping into the Moon's Resources

The Moon, Earth's closest celestial neighbor, presents another compelling opportunity for space mining. Lunar regolith, the layer of loose, fragmented material covering the Moon's surface, contains a wealth of resources including helium-3, a potential fuel for future fusion reactors, and rare earth elements essential for advanced technologies. Organizations like NASA and private lunar exploration companies are actively researching methods to extract and utilize these resources, laying the groundwork for sustained human presence and industrial activity on the lunar surface.

Research Institutions

Academic and research institutions contribute invaluable expertise and resources to the field of space mining. Universities, laboratories, and think tanks conduct fundamental research, develop innovative technologies, and collaborate with industry partners to address the technical, scientific, and logistical challenges of mining in space.

Challenges and Opportunities

While the prospects of space mining are undeniably exciting, the industry also faces a host of challenges and uncertainties.

Technological Hurdles

Developing the necessary technologies for space mining presents formidable engineering challenges. From autonomous robotic systems capable of prospecting and excavation to advanced resource processing techniques, innovators must overcome numerous technical hurdles to make space mining economically viable.

Legal and Regulatory Frameworks

The absence of comprehensive legal and regulatory frameworks governing space mining raises questions about property rights, environmental impact, and international cooperation. As nations and companies vie for access to extraterrestrial resources, establishing clear guidelines and agreements becomes paramount to ensuring responsible and sustainable exploitation of space resources.

Economic Viability

Despite the abundant resources available in space, the economic viability of space mining remains uncertain. High upfront costs, technological risks, and market uncertainties pose significant barriers to investment and commercialization. However, proponents argue that the long-term benefits of space mining, including access to rare resources, expansion of the space economy, and mitigation of Earth's resource constraints, justify the investment and effort required to overcome these challenges.

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Segmentation:

The Global Space Mining Market is segmented by Phase, by Type of Asteroid, and by region/country.

By Phase:

Based on the Phase, the Global Space Mining Market is bifurcated into Spacecraft Design, Launch & Operation – where Spacecraft Design is dominating and ahead in terms of share.

By Type of Asteroid:

Based on the Type of Asteroid, the Global Space Mining Market is bifurcated into Type C, Type S & Type M – where Type S is dominating and ahead in terms of share.

Key Players in the Space Mining Industry

Deep Space Industries

Planetary Resources

Moon Express

I Space

Asteroid Mining Corp.

Shackleton Energy Co.

Kleos Space

Offworld

Space Fab

NASA

ESA

By Geography

North America (U.S., Canada, and Mexico)

Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)

Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

South America (Brazil, Argentina, and Rest of South America)

Middle East & Africa (South Africa, UAE, and Rest of ME&A)

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Conclusion

As humanity ventures ever deeper into the cosmos, the prospect of space mining offers a glimpse into a future where the boundless resources of the universe are within our reach. While numerous challenges lie ahead, the potential rewards of space mining—technological innovation, economic growth, and the advancement of human civilization—underscore the importance of continued exploration and investment in this transformative industry.

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Asteroid Mining Market Size, Trends & Growth, Analysis, Technology and Market Forecasts to 2030.

Global Asteroid Mining Market

Asteroid Mining is known as the exploration of raw materials from asteroids and other minor planets that also includes near-earth objects. These activities have been backbone of human civilization in the development of technology. Mining activities have been carried out since the Bronze Age to meet the requirements of human civilization.

The global asteroid mining market was valued at $712.0 million in 2017 and is projected to reach $3,868.9 million by 2025, growing at a CAGR of 24.4% from 2018 to 2025

Market Drivers

Increase in development of science and technology is key driving factor which is expected to boost the global asteroid mining market growth. Furthermore, increase in government investments and funding as well as ambitions by the government authorities will significantly influence the global asteroid mining market growth over the forecast period. Also, current and growing forthcoming space missions are expected to propel the asteroid mining market growth during this forecast timeline. Moreover, increase in adoption of in-situ resource utilization practice in exploration will fuel the market growth. Over the past few years, the human population has increased from 1.5 billion to more than 7 billion, propelling an ever-increasing demand for resources. Continuous technological advancements coupled with innovations are expected to support the global asteroid mining market.

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Market Restraints

High initial costs associated with Asteroid mining and prospecting missions is the market restraint which is expected to hamper the global asteroid mining market growth. Also, asteroid mining activities creating huge environmental risks which affects space and earth which is expected to limit the market growth over the forecast period. 

Market Segmentation

Global Asteroid Mining Market is segmented into phase such as Spacecraft Design, Launch, and Operation, by asteroid type such as Type C, Type S, Type M, and Others. Further, market is segmented into application such as Construction, Resource Harvesting, 3D Printing, and Others.

Also, Global Asteroid Mining Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. 

Market Key Players

Various key players are listed in this report such as Deep Space Industries, Moon Express, Planetary Resources, Ispace, Asteroid Mining Corporation, Shackleton Energy Company,  Kleos Space, Transastra, Offworld, and Spacefab.Us

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Market Taxonomy

By Phase Spacecraft Design Launch Operation   By Asteroid Type Type C Type S Type M Others

By Application Construction Resource Harvesting 3D Printing Others

By Region

North America

Latin America

Europe Asia

Pacific Middle

East & Africa

 Key Questions Addressed by the Report What are the Key

Opportunities in Global Asteroid Mining Market?

What will be the growth rate from 2019 to 2030?

Which segment/region will have highest growth?

What are the factors that will impact/drive the Market?

\What is the competitive Landscape in the Industry?

What is the role of key players in the value chain?

What are the strategies adopted by key players?

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[electronics-system]

Asteroids mining is referred to as the exploitation of raw materials from asteroids and other minor planets, which also includes near-earth objects. Minerals can be mined from an asteroid or spent comet and then used in space for construction material or can be taken back to earth. These resources or raw materials include gold, iridium, silver, osmium, palladium, platinum, nickel, and aluminum. According to NASA, the minerals that lie in the belt of asteroids between Mars and Jupiter hold wealth equivalent to a staggering US $100 million for every person on earth. 

[kittubhawsar]

Asteroid Mining Market Huge Growth Opportunities and Trends to 2029: Deep Space, Moon Express, ispace

The Global Asteroid Mining market to witness a CAGR of 13.24% during forecast period of 2023-2028. The market is segmented by Application (Construction, Resource Harvesting, 3D Printing, Others) by Type (Type C, Type S, Type M, Others) by Phase (Spacecraft Design, Launch, Operation) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The Asteroid Mining market size is estimated to increase by USD 2978.3 Million at a CAGR of 13.24% from 2023 to 2028. The report includes historic market data from 2017 to 2022E. Currently, market value is pegged at USD 2685.18 Million

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Ongoing and future space missions will help to boost global asteroid mining market globally. It is the exploitation of raw materials from asteroids as well as other minor planets, which also contains near-earth objects. Minerals can be mined from an asteroid or spent comet and then used in space for construction material or can be taken back to earth. The raw material used including gold, iridium, silver, osmium, palladium, platinum, nickel, and aluminum. There is a rise in demand for planets limited resources with growing in the worlds population. This has led to several governments and private enterprises to set their sights on outer space for various resources which are projected to boost the global asteroid mining market.

[imr-riya]

Space Mining Market by Application and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022-2028

Space Mining market was valued at USD 1340 million in 2021 and is expected to reach USD 5090 million by the year 2028, at a CAGR of 21%.

The method of collecting materials and minerals from asteroids and near-earth objects is known as space mining. The similar to earth mining in that it involves the extraction and exploitation of valuable resources and minerals. The only difference is the expense of both, which is incredibly expensive for space mining. However, due to the rapid depletion of resources and the scarcity of these resources on Earth, space mining could be the only viable choice for mineral and material exploration. Space mining refers to the extraction of useful and precious raw materials from minor planets or asteroids, such as gold, iridium, silver, palladium, osmium, platinum, rhodium, rhenium, ruthenium, and tungsten, as well as iron, manganese, and cobalt. The aim of space mining is either to provide building materials in space or to carry extracted material back to Earth for technical and economic development. The current pandemic has affected almost all industry verticals across the world. The space mining market has been influenced by the restrictions imposed during the pandemic phase.

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The research study includes an examination of many aspects that contribute to the market's expansion. Market trends, restrictions, and drivers that have a favorable or negative influence on the market are included. This section also discusses the many businesses and applications that may have an impact on the market in the future. The information is based on both recent and historical patterns. The cost structure, market size, Space Mining Sales, Gross Margin and Market Share, Price, Revenue, Size, Forecast, and Growth Rate are all calculated in the report.

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Key Industry Players in Space Mining Market:

·         Bradford

·         Ispace

·         Kleos Space S.A.

·         Moon Express

·         Planetary Resources

·         Spacefab.Us

·         Sierra Nevada Corporation

·         Offworld

·         Virgin Galactic

·         Deep Space Industries

·         Asteroid Mining Corporation

·         Shackleton Energy Company

·         TransAstra

·         National Aeronautics and Space Administration

·         European Space Agency

·         Japan Aerospace Exploration Agency

·         China National Space Administration

·         Russian Federal Space Agency

·         Asteroid Mining Corporation Limited and other major players.

Space mining is that the process of excavation of materials and minerals from asteroids and near-earth objects. the aim of space mining is analogous thereto of earth mining, exploitation and excavation of precious materials and minerals. The main difference is that the cost involved for both which is extremely expensive for space mining, but due to the rapid decline in resources and these resources becoming progressively scarce on earth, space mining might be the sole viable option for the excavation of minerals and materials.

Segmentation Analysis Includes,

By Type:

·         Type C

·         Type S

·         Type M

By Phase:

·         Spacecraft Design

·         Launch

·         Operation

By Application:

·         Extraterrestrial Commodity

·         Construction

·         Human Life Sustainability

·         Fuel

·         3D Printing

By Region:

·         North America (U.S., Canada, Mexico)

·         Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

·         Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

·         Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

·         South America (Brazil, Argentina, Rest of SA)

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Reasons to Buy the Space Mining Market Research Report:

·         The Space Mining exploration report gives a characterization of the Space Mining company, along with its marketing strategies, commercial growth, and full-fledged structure and association of the company.

·         The Market exploration includes literal and vaticinations Market data, demand, operation details, pricing history, and company shares of the Space Mining Market by terrain.

·         The report of the Space Mining company gains a truly global perspective with the most comprehensive report available on this Market covering colorful topographies, current happenings, and upcoming opportunities.

·         The Space Mining Market report analyzes important functional and performance data so one may compare them to their own business, the businesses of their guests, or the companies of their rivals.

The pandemic has had a great impact on the Space Mining Market. It shook businesses and stock markets across the globe had to act in handy and give in immediate responses considering the COVID-19 obstacles. The COVID-19 Epidemic has hyped up the reality and has drastically affected the fiscal and experimental criteria of the Space Mining Market. The Space Mining Market report emphasizes the assignments and comminations that COVID-19 left for businessmen and judges to learn and get prepared for forthcoming rigors.

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The Space Mining Market exploration report throws an enhanced and profound understanding of the Market and its factors. The Space Mining Market is surely enduring numerous grueling tests due to the emergence of new challengers in the Market. The Space Mining exploration report is an expansive study that focuses on overall consumption patterns, development trends, deals numbers, and provident heads in crucial countries of the Space Mining Market.

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https://introspectivemarketresearch.com/reports/space-agriculture-market/

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[latestanalysis]

Global Asteroid Mining Market Latest Trend, Huge Demand, Top Key Players, Driving Factors and Region Analysis Report

Global Asteroid Mining Market

Asteroid Mining is known as the exploration of raw materials from asteroids and other minor planets that also includes near-earth objects. These activities have been backbone of human civilization in the development of technology. Mining activities have been carried out since the Bronze Age to meet the requirements of human civilization.

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Increase in development of science and technology is key driving factor which is expected to boost the global asteroid mining market growth. Furthermore, increase in government investments and funding as well as ambitions by the government authorities will significantly influence the global asteroid mining market growth over the forecast period. Also, current and growing forthcoming space missions are expected to propel the asteroid mining market growth during this forecast timeline. Moreover, increase in adoption of in-situ resource utilization practice in exploration will fuel the market growth. Over the past few years, the human population has increased from 1.5 billion to more than 7 billion, propelling an ever-increasing demand for resources. Continuous technological advancements coupled with innovations are expected to support the global asteroid mining market.

High initial costs associated with Asteroid mining and prospecting missions is the market restraint which is expected to hamper the global asteroid mining market growth. Also, asteroid mining activities creating huge environmental risks which affects space and earth which is expected to limit the market growth over the forecast period.

Market Segmentation

Global Asteroid Mining Market is segmented into phase such as Spacecraft Design, Launch, and Operation, by asteroid type such as Type C, Type S, Type M, and Others. Further, market is segmented into application such as Construction, Resource Harvesting, 3D Printing, and Others.

Also, Global Asteroid Mining Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

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Market Key Players

Various key players are listed in this report such as Deep Space Industries, Moon Express, Planetary Resources, Ispace, Asteroid Mining Corporation, Shackleton Energy Company, Kleos Space, Transastra, Offworld, and Spacefab.Us.

In the global asteroid mining market report is the first hand information is provided of which qualitative & quantitative valuation is completed manly by the industry analysis. The research is done on the parameters of SWOT analysis as well as Porter’s Five Force Model. The latest inputs from industry experts & participants who have a keen focus on a value chain of the target market worldwide. Moreover, the report encompasses in-depth analysis of parent market its trends, macro-economic indicators, and governing factors along with market attractiveness based on segmentation. The research procedure divided into primary & secondary researches, and with the help of it, a better understanding of the global asteroid mining market is done.

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[samirshah18]

Asteroid Mining Market Demands, Analysis, Size, Trends, Revenue by 2027

Global Asteroid Mining Market, By Phase (Space-craft Design, Launch, Operation), Asteroid Type (Type C, Type S, Type M, Others), Application (Construction, Resource Harvesting, 3D Printing, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2027

Asteroid Mining Market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Asteroid Mining Market.

Asteroid Mining Market report present the modern marketing statistics that are imperative to verify the performance and thus, make prominent judgments for profitability and growth. Further, the research presents the prominent players in the market along with their details and facts such as contact details, sales, market share, and product specifications & pictures.

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The major players covered in the asteroid mining market report are Asteroid Mining Corporation Limited, Bradford Space, iSpace, Kleos Space, Moon Express, Planetary Resources, SpaceFab.US, Inc., OffWorld., Virgin Galactic, Boeing., ISRO, Shackleton Energy Company, Northrop Grumman Corporation., Airbus S.A.S., Trans Astronautica Corporation., NASA, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

 Key questions answered in the report:

Which product segment will grab a lion’s share?

Which regional market will emerge as a frontrunner in coming years?

Which application segment will grow at a robust rate?

What are the growth opportunities that may emerge in Countertops industry in the years to come?

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios of the top players in the Asteroid Mining Market.

Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market.

Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.

Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Asteroid Mining Market.

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Table Of Content

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03:  Global Market

Part 04: Global Market Sizing

Part 05: Global Market Segmentation By Product

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

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[madyjose5]

global asteroid mining market garnered $712 million in 2017, and is estimated to reach $3,868.9 million by 2025, growing at a CAGR of 24.4% from 2018 to 2025.

[datadiscoveriesdaily]

Space Mining Market Size Growth Set to Surge Significantly during 2024-2031

Overview:

The Space Mining market has emerged as a dynamic and promising sector, positioned at the intersection of space exploration and resource extraction. This futuristic endeavor involves the extraction of valuable minerals and resources from celestial bodies, such as asteroids and the Moon, opening up new frontiers for human economic activity beyond Earth. As technological advancements continue to propel space exploration, the Space Mining market is gaining traction as a viable and potentially lucrative industry.

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Drivers:

Several factors are driving the growth of the Space Mining market. Firstly, the increasing demand for rare minerals on Earth, coupled with dwindling terrestrial resources, has spurred interest in extra-terrestrial mining. The potential availability of precious metals, such as platinum and gold, in asteroids presents a compelling economic incentive. Moreover, the burgeoning space exploration industry, driven by both governmental space agencies and private enterprises, is fostering a conducive environment for the development of space mining technologies. The prospect of accessing vast quantities of resources in space without the environmental constraints associated with terrestrial mining further amplifies the appeal of space mining.

Furthermore, advancements in space technology and robotics are overcoming the challenges of operating in the harsh conditions of outer space. Automation and artificial intelligence are playing pivotal roles in developing autonomous mining systems capable of navigating and extracting resources from celestial bodies. As these technologies mature, the feasibility of space mining operations becomes increasingly realistic, propelling the market forward.

Restraints:

Despite the promising outlook, the Space Mining market faces significant challenges and restraints. One of the foremost hurdles is the high upfront investment required for space mining missions. The development of advanced spacecraft, robotic systems, and mining equipment demands substantial financial resources. This financial barrier may hinder the entry of smaller players into the market, limiting the competitive landscape and innovation.

Moreover, regulatory uncertainties and the absence of a comprehensive legal framework for space mining pose additional challenges. The international community is yet to establish clear guidelines regarding property rights and ownership of extracted resources from celestial bodies. This lack of legal clarity could impede investment and stall the progress of space mining projects. Striking a balance between encouraging private investment and ensuring responsible and sustainable practices is crucial for the long-term success of the Space Mining market.

Growth Factors:

Several factors contribute to the growth prospects of the Space Mining market. The increasing global awareness of the finite nature of Earth's resources is driving the search for alternative sources. Space mining offers a potential solution to address resource scarcity on Earth by tapping into the vast reservoirs available in space.

Additionally, collaborations between governmental space agencies and private entities are fostering innovation and accelerating the development of space mining technologies. Joint ventures and partnerships enable the sharing of expertise and resources, mitigating some of the challenges associated with the industry's infancy.

Furthermore, the successful demonstration of space mining capabilities through unmanned missions is instilling confidence in investors and stakeholders. As these missions prove the feasibility of extracting resources from space, it builds momentum for larger-scale, manned operations in the future.

In conclusion, the Space Mining market represents a paradigm shift in resource acquisition, with the potential to redefine the global economy. While challenges exist, the convergence of technological advancements, economic incentives, and a growing interest in space exploration positions space mining as a transformative industry with far-reaching implications for humanity's future beyond Earth. As the sector continues to evolve, navigating the complexities of regulation and investment will be critical in unlocking the full potential of the Space Mining market.

Market segment by players, this report covers

    ConsenSys (Planetary Resources)

    Bradford Space (Deep Space Industries)

    Moon Express

    Ispace

    Asteroid Mining Corporation

    Trans Astronautica Corporation

    OffWorld

    SpaceFab

Market segmentation

Space Mining market is split by Type and by Application. For the period 2024-2031, the growth among segments provide accurate calculations and forecasts for revenue by Type and by Application. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type, covers

    C-Type Carbonaceous Asteroids

    S-Type Silicaceous Asteroids

    M-Type Metallic Asteroids

Market segment by Application, can be divided into

    Fuel

    Construction

    3D Printer

By Geography

North America (U.S., Canada, and Mexico)

Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)

Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

South America (Brazil, Argentina, and Rest of South America)

Middle East & Africa (South Africa, UAE, and Rest of ME&A)

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[kdmarketresearch]

Asteroid Mining Market Qualitative Insights, Key Enhancement and Latest Trends 2017-2025

KD Market research has presented a detailed report on  “Asteroid Mining Market” which includes the major application, advantages, and key market trends that are fostering the growth of the market during the forecasted span of 6 years. The research takes a step forward and analyzes the key competitors and global regions that are holding the market share of Asteroid Mining Market in terms of revenue.

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Asteroids mining is anticipated to enable the extraction of rich resources of the asteroids in the space. It is being developed by a variety of companies, which is leading to the enlarged scope of the business over the coming years. For instance, European nation’s Luxembourg hopes to be the global leader in the emerging race to mine resources in the outer space. Luxembourg is investing 25 million euros in a privately owned company, Planetary Resources. This is an asteroid mining startup, which is expected to launch its first commercial asteroid prospecting mission by 2020. In addition, China is planning to develop nuclear-powered space shuttles by 2040, which will have the ability to mine resources from asteroids and build solar power plants in space in the near future.

The asteroid mining market is gaining traction, owing to the availability of abundant resources in the space such as precious metals, fuel and other natural resources which influences its growth positively. In addition, the rise in the R&D, investments by key players to install space mining methods is expected to drive the space mining market size in the coming years.

The global asteroid mining market is analyzed by phase, asteroid type, application, and region. Based on phase, the market is divided into spacecraft design, launch, and operation. By asteroid type, the market is classified into Type C, Type S, Type M, and others. Based on application, the market is categorized into construction, resource harvesting, 3D printing, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the global asteroid mining market are Asteroid mining Company, Bradford, iSpace, Kleos Space S.A, Planetary Resources, SpaceFab.US, Sierra Nevada Corporation, Offworld, and Virgin Galactic.

These key players have adopted strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.

Key Benefits for Asteroid Mining Market:

·This study includes the analytical depiction of the global asteroid mining along with the current trends and future estimations to determine the imminent investment pockets.

· The report presents information regarding the key drivers, restraints, and opportunities.

·The current market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the industry.

·Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Asteroid Mining Market Segmentations:

· By Phase

–Spacecraft Design –Launch –Operation

· By Asteroid Type

–Type C –Type S –Type M –Others

· By Application

–Construction –Resource Harvesting –3D Printing –Others

· By Region

North America –U.S. –Canada –Mexico

· Europe

–UK–Germany

 –Russia  –Luxembourg  –Rest of Europe

 · Asia-Pacific

–China –Japan –Australia –Rest of Asia-Pacific

· LAMEA

–Latin America –Middle East –Africa

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Table of Content

CHAPTER 1: INTRODUCTION

1.1. REPORT DESCRIPTION 1.2. KEY BENEFITS FOR STAKEHOLDERS 1.3. KEY MARKET SEGMENTS 1.4. RESEARCH METHODOLOGY

1.4.1. Primary research 1.4.2. Secondary research 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

CHAPTER 3: MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE 3.2. KEY FINDINGS

3.2.1. Top impacting factors 3.2.2. Top investment pockets 3.2.3. Top winning strategies

3.3. PORTERS FIVE FORCES ANALYSIS 3.4. MARKET SHARE ANALYSIS (2017) 3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Ongoing and future space missions 3.5.1.2. Rise in investments in space mining technologies 3.5.1.3. Advancements in 3D printing Application

3.5.2. Restraint

3.5.2.1. High cost associated with space mining techniques

3.5.3. Opportunities

3.5.3.1. Adoption of In-Situ resource Utilization (ISRU) in space exploration 3.5.3.2. Rising number of government regulations

CHAPTER 4: ASTEROID MINING MARKET, BY PHASE TYPE

4.1. OVERVIEW 4.2. SPACE-CRAFT DESIGN

4.2.1. Key market trends, growth factors and opportunities 4.2.2. Market size and forecast, by region 4.2.3. Market analysis by country

4.3. LAUNCH

4.3.1. Key market trends, growth factors, and opportunities 4.3.2. Market size and forecast, by region 4.3.3. Market analysis by country

4.4. OPERATION

4.4.1. Key market trends, growth factors, and opportunities 4.4.2. Market size and forecast, by region 4.4.3. Market analysis by country

CHAPTER 5: ASTEROID MINING MARKET, BY ASTEROID TYPE

5.1. OVERVIEW 5.2. TYPE C

5.2.1. Key market trends, growth factors and opportunities 5.2.2. Market size and forecast, by region 5.2.3. Market analysis by country

5.3. TYPE S

5.3.1. Key market trends, growth factors, and opportunities 5.3.2. Market size and forecast, by region

5.3.3. Market analysis by country

5.4. TYPE M

5.4.1. Key market trends, growth factors, and opportunities 5.4.2. Market size and forecast, by region 5.4.3. Market analysis by country

5.5. OTHERS

5.5.1. Key market trends, growth factors, and opportunities 5.5.2. Market size and forecast, by region 5.5.3. Market analysis by country

CHAPTER 6: ASTEROID MINING MARKET, BY APPLICATION

6.1. OVERVIEW 6.2. CONSTRUCTION

6.2.1. Key market trends, growth factors and opportunities 6.2.2. Market size and forecast, by region 6.2.3. Market analysis by country

6.3. RESOURCE HARVESTING

6.3.1. Key market trends, growth factors, and opportunities 6.3.2. Market size and forecast, by region 6.3.3. Market analysis by country

6.4. 3D PRINTING

6.4.1. Key market trends, growth factors, and opportunities 6.4.2. Market size and forecast, by region 6.4.3. Market analysis by country

6.5. OTHERS

6.5.1. Key market trends, growth factors, and opportunities 6.5.2. Market size and forecast, by region 6.5.3. Market analysis by country

CHAPTER 7: ASTEROID MINING MARKET, BY REGION

7.1. OVERVIEW 7.2. NORTH AMERICA

7.2.1. Key market trends, growth factors, and opportunities 7.2.2. Market size and forecast, by phase type 7.2.3. Market size and forecast, by asteroid Type 7.2.4. Market size and forecast, by Application 7.2.5. Market analysis by country

7.2.5.1. U.S.

7.2.5.1.1. Market size and forecast, by PHASE type 7.2.5.1.2. Market size and forecast, by Asteroid Type 7.2.5.1.3. Market size and forecast, by Application

7.2.5.2. Canada

7.2.5.2.1. Market size and forecast, by PHASE type 7.2.5.2.2. Market size and forecast, by Asteroid Type 7.2.5.2.3. Market size and forecast, by Application

7.2.5.3. Mexico

7.2.5.3.1. Market size and forecast, by PHASE type 7.2.5.3.2. Market size and forecast, by Asteroid Type 7.2.5.3.3. Market size and forecast, by Application

7.3. EUROPE

7.3.1. Key market trends, growth factors, and opportunities 7.3.2. Market size and forecast, by phase type 7.3.3. Market size and forecast, by Asteroid Type 7.3.4. Market size and forecast, by Application 7.3.5. Market analysis by country

7.3.5.1. U.K.

7.3.5.1.1. Market size and forecast, by PHASE type 7.3.5.1.2. Market size and forecast, by Asteroid Type 7.3.5.1.3. Market size and forecast, by Application

7.3.5.2. Germany

7.3.5.2.1. Market size and forecast, by PHASE type 7.3.5.2.2. Market size and forecast, by Asteroid Type 7.3.5.2.3. Market size and forecast, by Application

7.3.5.3. Russia

7.3.5.3.1. Market size and forecast, by PHASE type 7.3.5.3.2. Market size and forecast, by Asteroid Type 7.3.5.3.3. Market size and forecast, by Application

7.3.5.4. Luxembourg

7.3.5.4.1. Market size and forecast, by PHASE type 7.3.5.4.2. Market size and forecast, by Asteroid Type 7.3.5.4.3. Market size and forecast, by Application

7.3.5.5. Rest of Europe

7.3.5.5.1. Market size and forecast, by PHASE type 7.3.5.5.2. Market size and forecast, by Asteroid Type 7.3.5.5.3. Market size and forecast, by Application

7.4. ASIA-PACIFIC

7.4.1. Key market trends, growth factors, and opportunities 7.4.2. Market size and forecast, by phase type 7.4.3. Market size and forecast, by asteroid Type 7.4.4. Market size and forecast, by Application 7.4.5. Market analysis by country

7.4.5.1 China

7.4.5.1.1. Market size and forecast, by PHASE type 7.4.5.1.2. Market size and forecast, by Asteroid Type 7.4.5.1.3. Market size and forecast, by Application

7.4.5.2. Japan

7.4.5.2.1. Market size and forecast, by PHASE type 7.4.5.2.2. Market size and forecast, by Asteroid Type 7.4.5.2.3. Market size and forecast, by Application

7.4.5.3. Australia

7.4.5.3.1. Market size and forecast, by PHASE type 7.4.5.3.2. Market size and forecast, by Asteroid Type 7.4.5.3.3. Market size and forecast, by Application

7.4.5.4. Rest of Asia-Pacific

7.4.5.4.1. Market size and forecast, by PHASE type 7.4.5.4.2. Market size and forecast, by Asteroid Type 7.4.5.4.3. Market size and forecast, by Application

7.5. LAMEA

7.5.1. Key market trends, growth factors, and opportunities 7.5.2. Market size and forecast, by PHASE type 7.5.3. Market size and forecast, by Asteroid Type 7.5.4. Market size and forecast, by Application 7.5.5. Market analysis by country

7.5.5.1. Latin America

7.5.5.1.1. Market size and forecast, by PHASE type 7.5.5.1.2. Market size and forecast, by Asteroid Type 7.5.5.1.3. Market size and forecast, by Application

7.5.5.2. Middle East

7.5.5.2.1. Market size and forecast, by PHASE type 7.5.5.2.2. Market size and forecast, by Asteroid Type 7.5.5.2.3. Market size and forecast, by Application

7.5.5.3. Africa

7.5.5.3.1. Market size and forecast, by PHASE type 7.5.5.3.2. Market size and forecast, by Asteroid Type 7.5.5.3.3. Market size and forecast, by Application

CHAPTER 8: COMPANY PROFILES

8.1. ASTEROID MINING CORPORATION LIMITED

8.1.1. Company overview 8.1.2. Company snapshot 8.1.3. Product portfolio 8.1.4. Key strategic moves and developments

8.2. BRADFORD

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[strangemusictriumph]

New Space / Commercial Space Market - Forecast (2022 - 2027)

The Global New Space/Commercial Space market size is forecast to reach $23.6 billion by 2026, growing at a CAGR of 11.2% from 2021 to 2026. The market growth is attributed to technological advancements creating demand for more cost-effective space operations. Moreover, the expansion of private investment from new space investors has been also positively impacting the growth of new space/commercial space market. Rapid evolution of space sector overtime have eventually raised the transformation bar in space ecosystem, driving more space related exploration and research activities, which in turn also impact its market growth. In addition, emerging space economy is increasingly dependent on data with varied impacts on space technologies as well as markets along with military or strategic innovations around space and others is set to drive the market forward in the long run.

Report Coverage

The report: “New space market– Forecast (2020-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the New Space market.

By Equipment Type: Communications Satellites, Earth Observation Satellites, Launch Vehicles, Others.

By Solution Type: Satellite IOT, Communications, Geospatial solution, Others.

By Application: Navigation/Agriculture, Surveillance, Earth Environment Monitoring, Space Tourism, Asteroid Mining, Others.

By End Users: Civil, Commercial and Military.

By Geography: North America (U.S, Canada, Mexico), Europe (Germany, U.K, France, Italy, Spain, Others), APAC (China, Japan India, South Korea, Australia and Others), South America (Brazil, Argentina, Others) and ROW (Middle East, Africa).

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Key Takeaways

Satellite IoT segment is analyzed to witness the fastest growth in the new space/commercial space market during 2021-2026, due to growing development of IoT based satellites.

Military sector will grow with the highest CAGR during the forecast period 2021-2026, due to military investments on space exploration.

North America had accounted for the largest share in 2020, due to growing demand for small satellites, rise of space observation mission and others.

New Space/Commercial Space Market Segment Analysis - By Solution Type

Satellite IOT segment is anticipated to grow with the highest CAGR of around 7.5% in the global new space/commercial space market during the forecast period 2021-2026. Satellite IoT facilitate surveillance of the environment, agriculture, maintenance of public utilities and many others relevant to remote sensing within a large area. Availability of low-cost and low-power global networking would also help in increasing the overall number of linked sensors, thus improving precision of data-based predictions and developments in a variety of global environmental, social, manufacturing, agricultural and logistical applications. A new wave of start-ups exploring recent developments in smaller satellite technology which offer low-cost, low-power access would challenge traditional satellite providers, aiding its market growth. IoT-focused satellites can be a great way to improve profitability, especially in relation to the rising broadband and satellite communications market. Some of the companies in the upstream satellite IoT market include OQ Technology, Astrocast, Kineis, Hiber, and many more. In 2019, Quilty Analytics had revealed about two dozen companies seeking to enter the satellite IoT market in the coming time, including both new entrants as well as incumbent players like Iridium Communications, Inmarsat, Globalstar and Orbcomm. In March 2020, Eutelsat announced about its plans of developing a nano satellite IoT constellation on the same side, set to be launched between 2021 and 2022. This will further help in serving emerging space economy advancements, driving its market growth in the long run.

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New Space/Commercial Space Market Segment Analysis - By End Users

Military sector is analyzed to witness the fastest growth in the global new space/commercial space market with the highest CAGR of around 6.3% during 2021-2026. Rise of military security threats have been eventually raising the need for increasing satellite communication services as a part of ensuring intelligence, surveillance and reconnaissance application areas. This further add up to the demand towards space crafts, launch missiles and many others in order to improve service and security standards within the military & defense sectors. Moreover, defense or military organizations support deployment of different types of satellites including communication satellites, surveillance satellites and many others towards tracking or monitoring of future security threats, thereby impacting the growth of new space/commercial space markets. In May 2021, the government of United Kingdom had revealed about a space program plan for its military towards investing on new technologies with a major focus on increasing space capabilities. Through this program, responsive launched small satellites in low earth orbit constellation will be adopted ensuring direct utility for the war fighters, causing faster response and resilience of the space networks. Such factors are further set to assist the growth of new space/commercial space market in the coming time.

New Space/Commercial Space Market Segment Analysis - By Geography

North America region had dominated the global new space/commercial space market in 2020 with a share of 33%, and is analyzed to witness a significant growth during the forecast period 2021-2026. Growing demand towards commercial communication or satellite imaging services, collaborative efforts from government and private sector towards space exploration projects have attributed towards the growth of new space/commercial space market in the region. Increasing demand for small satellites, rise of interplanetary space observation missions as well as investments on launch missiles, spacecraft and related space equipment to improve space ecosystem have also helped in boosting its market growth overtime. In addition, strong support for start-up firms from U.S government over the years, with SpaceX being the most prominent, through awarding with NASA launches have also helped in driving new space prospects in the region. Well-known venture capital firms including Sequoia, Khosla Ventures, RRE Ventures and others have invested in several promising companies such as Earth, Orbital Insight, and Spire in American New Space, as a part of uplifting the bar in exploring as well as designing accessible space technologies. In June 2021, the U.S Space Force announced about setting up an office in order to assess and secure commercial services ranging from traditional satellite communications to satellite imagery, further impacting the market growth of new space/commercial space.

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New Space/Commercial Space Market Drivers

Evolution of small satellites

Emergence of smallsats, a satellite which weights as much as a few hundred pounds anywhere from one ounce, act as a major driver for the market growth of new space/commercial space. Usually, satellites weighing about 1 and 10 kg are made with off-the-shelf components and assembled in only a couple of days, thus lowering the entry barrier complexities, scheduling as well as cost viewpoint for commercial companies. This in turn help in pushing a new paradigm led by private corporations dedicated towards making space more available and inexpensive for non-governmental and military organizations. In November 2020, the Indian Space Research Organization (ISRO) had revealed about its plans of gearing up the launch of small satellite launch vehicles utilizing satellites which weight less and have limited launch options. This small satellite evolution towards meeting the needs of emerging global small satellite launch services market, will further drive the growth of new space/commercial space market.

Growing investments from public as well as private firms

While private equity projects have captured most of the headlines in recent years, interest in the public sector have also increased significantly. In August 2019, Trump Administration had established a U.S. Space Command as a part of increasing U.S. military capabilities in space. Additionally, in May 2020, NASA announced about launching a manned flight to the International Space Station on a commercially developed rocket, making it the first time after U.K’s shuttle programme withdrawn in the year 2011. This further remarks a significant landmark in the collaboration between private enterprise and government in the area of space, thus aiding the market growth towards new space/commercial space.

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New Space/Commercial Space Market Challenges

Regulatory barriers

Global regulatory barriers or conditions remain a significant challenge for businesses seeking to launch or have assets launched into space, irrespective of active technical progress and a momentum for privatization in the post-SpaceX age of developing space markets. Operating licences for LSPs (Launch Services Programs) remain a sluggish process and laws being not yet in effect to support new modes of service. The lengthy delays required to gain regulatory approval have been adversely impacting the development of space companies. The S2E (Service-to-Employee) section, especially for spacecraft without de-orbiting capability, may be further affected by new space debris regulations. This is poised to hamper the new space/commercial market growth in the long run.

New Space/Commercial Space Market Landscape

Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the new space/commercial space market. The top 10 new space/commercial space companies include Blue Origin LLC, Masten Space Systems, Stratolaunch LLC, Virgin Galactic, XCOR Aerospace, Inc., Space Exploration Technologies Corp. (SpaceX), Northrop Grumman Corporation, ORBCOMM Inc., Orbit International Corporation and Orbital Sciences Corporation (Orbital ATK) among others. 

 

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