Global Asteroid Mining Market Trends
OREGAON, PORTLAND, UNITED STATES, February 1, 2024 /EINPresswire.com/ -- Allied Market Research published a report on the Asteroid Mining Market by Phase (Space-craft Design, Launch, and Operation), Asteroid type (Type C, Type S, Type M, and Others), and Application (Construction, Resource Harvesting, 3D Printing, and Others): Global Opportunity Analysis and Industry Forecast, 2017 - 2025.
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
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Mining activities have been the backbone of human civilization in the development of science and technology. These activities have been carried out since the Bronze Age to meet the requirements of the human civilization. With rapid progress made in field of science and technology, mining activities have increased at a very rapid pace.
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. There is an increase in demand for planets limited resources with growth in the worlds population. This has led to several governments and private enterprises to set their sights in outer space for various resources which is expected to drive the global asteroid mining market.
Competitive Analysis:
The competitive environment of the asteroid mining industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, asteroid mining market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
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Some of the major key players of the asteroid mining industry include:
• Asteroid Mining Corporation Limited
• Bradford
• Ispace
• Kleos Space S.A.
• Moon Express
• Planetary Resources
• Spacefab.Us
• Sierra Nevada Corporation
• Offworld
• Virgin Galactic
Top Impacting Factors:
The factors such as ongoing and future space missions, advancement in 3D printing technology, high cost associated with space mining technique, rise in number of government regulations regarding space mining, and adoption of in situ utilization practice in space exploration are expected to significantly affect the growth of the global asteroid mining market. These factors are anticipated to either drive or hamper the market growth.
The research report presents a complete judgment of the asteroid mining market trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. Also, these research report provides accurate economic, global, and country-level predictions and analysis, size and share analysis, market dynamics, segmental analysis, top investment pockets, competition landscape, market drivers, restraints, and opportunities
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Key Benefits for Stakeholders:
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the asteroid mining market analysis from 2022 to 2032 to identify the prevailing asteroid mining market opportunities.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and
strengthen their supplier-buyer network.
• In-depth analysis of the asteroid mining market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global asteroid mining market trends, key players, market segments, application areas, and market growth strategies.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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