Space Mining & Robots Market Size
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Study Period | 2017 - 2029 |
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Base Year For Estimation | 2023 |
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Market Size (2024) | USD 2.05 Billion |
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Market Size (2029) | USD 3.98 Billion |
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Largest Share by Region | Europe |
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CAGR (2024 - 2029) | 14.19 % |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Space Mining & Robots Market Analysis
The Space Mining & Robots Market size is estimated at USD 2.05 billion in 2024, and is expected to reach USD 3.98 billion by 2029, growing at a CAGR of 14.19% during the forecast period (2024-2029).
2.05 Billion
Market Size in 2024 (USD)
3.98 Billion
Market Size in 2029 (USD)
17.33 %
CAGR (2017-2023)
14.19 %
CAGR (2024-2029)
Largest Market by Region
33.82 %
value share, Europe, 2022
Governments in European countries are emphasizing the exploitation of asteroids and minor planets. Traces of water, fuels, metals, and others beyond Earth are likely to propel market growth.
Fastest-Growing Market by Region
17.99 %
Projected CAGR, Asia-Pacific, 2023-2029
Government collaborations with private players are emphasizing the growth of Space mining in the Asia Pacific region. For instance, Indian Space Research Organization plans to mine Helium-3-rich lunar dust, generate energy, and transport it back to Earth.
Leading Market Player
39.07 %
market share, Northrop Grumman Corporation, 2022
The robotic technology of Northrop Grumman Corporation has been contracted by NASA, Intelsat, Defense Advanced Research Projects Agency (DARPA), and many other players for various space-based applications.
Second Leading Market Player
15.18 %
market share, MDA Ltd, 2022
MDA Ltd is involved in the design and development of space robots for various space-based robotic missions. The company has supported 90 US space shuttle missions.
Third Leading Market Player
14.28 %
market share, Maxar Technologies Inc., 2022
Maxar Technologies, in partnership with NASA and the West Virginia Robotic Technology Center, is developing advanced robotic arms that would semi-automatically assemble and reconfigure spacecraft components while in orbit.
Increased scope for extraction of resources from space is expected to aid the market's growth
- The global space mining and robots market is an emerging field with potential applications in extracting resources from asteroids, the moon, and other celestial bodies. During the historic period, various companies have explored new technologies and are still developing them to explore space mining.
- There is growing interest and investment in the space mining and robots market, driven by the potential for valuable resources such as rare metals and water, as well as the exploration of space. Several private companies and space agencies are investing in developing technologies and systems for space mining and robots. Europe is expected to occupy a major share of 32.4% in 2029, followed by North America, Rest of the World, and Asia-Pacific with 27.5%, 21.1%, and 19%, respectively.
- The space mining and robots market relies heavily on robotics and automation technologies, which are rapidly advancing. These advancements include the development of autonomous robots, machine learning algorithms, and advanced sensors, which enable robots to operate in harsh space environments and perform complex tasks. In 2022, NASA's DART (Dual Asteroid Redirection Test) mission was designed to test a method of deflecting an asteroid to protect the planet using a "kinetic impact" technique. According to NASA, DART crashed into a small asteroid, Dimorphos, in an attempt to change the asteroid's orbital speed by 1%. Although Dimorphos poses no threat to Earth, the ambitious mission mimics what NASA scientists would do if an asteroid were headed for Earth. Overall, the global satellite mining and space robots market is in the growth stage and is expected to grow by 183% during 2023-2029.
Global Space Mining & Robots Market Trends
Nano and mini-satellites are poised to create demand in the market
- The classification of spacecraft by mass is one of the main metrics for determining the launch vehicle size and cost of launching satellites into orbit. In North America, during 2017-2022, around 45+ large satellites launched were owned by North American organizations. North American organizations operated more than 80 medium-sized satellites launched, and around 2,900+ small satellites were manufactured and launched in this region.
- Europe has witnessed significant growth over recent years, primarily driven by the increasing demand for different satellite masses. Satellite mass is one of the most critical factors influencing the European satellite manufacturing market. This is because different types of satellites require different masses, which, in turn, affects the launch vehicle market. For instance, during 2017-2022, a total of 571 satellites were launched in the region. Of these 571 satellites, minisatellites accounted for most of the shares, with 452 satellites launched into orbit, followed by 45 nanosatellites, 37 large satellites, 30 medium size satellites, and seven microsatellites.
- Satellite manufacturing has become an increasingly important industry in the Asia-Pacific region over recent years, driven by the need to meet the growing demand for advanced satellite capabilities. The range of satellite mass being manufactured in the Asia-Pacific region varies significantly, and this has a significant impact on the market's growth. For instance, during 2017-2022, a total of 470 satellites were launched in the region. Of these 470 satellites, medium satellites accounted for most of the shares, with 152 satellites launched into orbit, followed by 132 microsatellites, 78 large satellites, 66 nanosatellites, and 42 minisatellites.
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Investment opportunities in the global satellite manufacturing market
- NASA got nearly USD 25.4 billion in the fiscal year 2023 omnibus spending bill enacted in December, an increase of 5.6% from the USD 24 billion it received in 2022. The region is the epicenter of space innovation and research, with the presence of the world's biggest space agency, NASA. GITAI, the world's leading space robotics company, have completed a Series B Extension round of funding totaling approximately USD 30 million to accelerate and expand their business and technology development in the US.
- Additionally, European countries are recognizing the importance of various investments in the space domain and are increasing their spending on space activities, and innovation to stay competitive and innovative in the global space industry. The ESA is asking its 22 nations to back a budget of some 18.5 billion euros for 2023-2025. Germany, France, and Italy are the major contributors. In June 2021, a consortium of 22 European companies from seven countries built the robot for ESA. The launch and installation of the European Robotic Arm is a first for Europe and Russia in space. This is the long-awaited premiere of this European-made robot that follows 14 years of perseverance.
- Considering the increase in space-related activities in the Asia-Pacific region, in 2022, according to the draft budget of Japan, the space budget of the country is over USD 1.4 billion which includes the development of the H3 rocket, Engineering Test Satellite-9, and the nation’s Information Gathering Satellite (IGS) program. Similarly, the proposed budget for India's space programs for FY22 is USD 1.83 billion. And in 2022 South Korea's, Ministry of Science and ICT announced a space budget of USD 619 million for manufacturing satellites, rockets, and other key space equipment.
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Space Mining & Robots Industry Overview
The Space Mining & Robots Market is fairly consolidated, with the top five companies occupying 69.52%. The major players in this market are Astrobotic, iSpace Inc., Maxar Technologies Inc., MDA Ltd and Northrop Grumman Corporation (sorted alphabetically).
Space Mining & Robots Market Leaders
Astrobotic
iSpace Inc.
Maxar Technologies Inc.
MDA Ltd
Northrop Grumman Corporation
Other important companies include Asteroid Mining Corporation, GITAI Inc., Honeybee Robotics, Moon Express, Motiv Space Systems, Offworld, Space Applications Services, Trans Astronautiaca Corporation.
*Disclaimer: Major Players sorted in alphabetical order.
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Space Mining & Robots Market News
- January 2023: Motiv Space Systems announces it has been selected by the US Space Force's innovation wing, SpaceWERX, for a Phase 1 STTR to develop robotically aided Active Debris Remediation services. Motiv is partnered with the U.S. Naval Research Laboratory (NRL), for the Orbital Prime contract.
- January 2023: ispace inc announced that its HAKUTO-R Mission 1 lunar lander has successfully completed Success 5 of its Mission 1 Milestones by completing a month-long stable navigation and nominal cruise in deep space.
- December 2022: Ispace's HAKUTO-R Mission 1 lander was successfully launched by a SpaceX Falcon 9 rocket. The lander carried 7 payloads and after the steady operational state of the lander was established, customer payloads were checked out individually.
Free with this Report
We offer a comprehensive set of global and local metrics that illustrate the fundamentals of the satellites industry. Clients can access in-depth market analysis of various satellites and launch vehicles through granular level segmental information supported by a repository of market data, trends, and expert analysis. Data and analysis on satellite launches, satellite mass, application of satellites, spending on space programs, propulsion systems, end users, etc., are available in the form of comprehensive reports as well as excel based data worksheets.
Space Mining & Robots Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Satellite Mass
- 4.2 Spending On Space Programs
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4.3 Regulatory Framework
- 4.3.1 Global
- 4.3.2 Australia
- 4.3.3 Brazil
- 4.3.4 Canada
- 4.3.5 China
- 4.3.6 France
- 4.3.7 Germany
- 4.3.8 India
- 4.3.9 Iran
- 4.3.10 Japan
- 4.3.11 New Zealand
- 4.3.12 Russia
- 4.3.13 Singapore
- 4.3.14 South Korea
- 4.3.15 United Arab Emirates
- 4.3.16 United Kingdom
- 4.3.17 United States
- 4.4 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
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5.1 Region
- 5.1.1 Asia-Pacific
- 5.1.2 Europe
- 5.1.3 North America
- 5.1.4 Rest of World
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 Asteroid Mining Corporation
- 6.4.2 Astrobotic
- 6.4.3 GITAI Inc.
- 6.4.4 Honeybee Robotics
- 6.4.5 iSpace Inc.
- 6.4.6 Maxar Technologies Inc.
- 6.4.7 MDA Ltd
- 6.4.8 Moon Express
- 6.4.9 Motiv Space Systems
- 6.4.10 Northrop Grumman Corporation
- 6.4.11 Offworld
- 6.4.12 Space Applications Services
- 6.4.13 Trans Astronautiaca Corporation
7. KEY STRATEGIC QUESTIONS FOR SATELLITE CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter's Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- SATELLITE MASS (ABOVE 10KG) GLOBALLY, NUMBER OF SATELLITES LAUNCHED, GLOBAL, 2017 - 2022
- Figure 2:
- SPENDING ON SPACE PROGRAMS GLOBALLY, USD, GLOBAL, 2017 - 2022
- Figure 3:
- GLOBAL SPACE MINING & ROBOTS MARKET, VALUE, USD, 2017 - 2029
- Figure 4:
- VALUE OF SPACE MINING & ROBOTS MARKET BY REGION, USD, GLOBAL, 2017 - 2029
- Figure 5:
- VALUE SHARE OF SPACE MINING & ROBOTS MARKET BY REGION, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 6:
- VALUE OF SPACE MINING & ROBOTS MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 7:
- VALUE OF SPACE MINING & ROBOTS MARKET, USD, EUROPE, 2017 - 2029
- Figure 8:
- VALUE OF SPACE MINING & ROBOTS MARKET, USD, NORTH AMERICA, 2017 - 2029
- Figure 9:
- VALUE OF SPACE MINING & ROBOTS MARKET, USD, REST OF WORLD, 2017 - 2029
- Figure 10:
- NUMBER OF STRATEGIC MOVES OF MOST ACTIVE COMPANIES, GLOBAL SPACE MINING & ROBOTS MARKET, ALL, 2017 - 2029
- Figure 11:
- TOTAL NUMBER OF STRATEGIC MOVES OF COMPANIES, GLOBAL SPACE MINING & ROBOTS MARKET, ALL, 2017 - 2029
- Figure 12:
- MARKET SHARE OF GLOBAL SPACE MINING & ROBOTS MARKET, %, ALL, 2022
Space Mining & Robots Industry Segmentation
Asia-Pacific, Europe, North America are covered as segments by Region.
| Region | Asia-Pacific |
| Europe | |
| North America | |
| Rest of World |
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Market Definition
- Application - Various applications or purposes of the satellites are classified into communication, earth observation, space observation, navigation, and others. The purposes listed are those self-reported by the satellite’s operator.
- End User - The primary users or end users of the satellite is described as civil (academic, amateur), commercial, government (meteorological, scientific, etc.), military. Satellites can be multi-use, for both commercial and military applications.
- Launch Vehicle MTOW - The launch vehicle MTOW (maximum take-off weight) means the maximum weight of the launch vehicle during take-off, including the weight of payload, equipment and fuel.
- Orbit Class - The satellite orbits are divided into three broad classes namely GEO, LEO, and MEO. Satellites in elliptical orbits have apogees and perigees that differ significantly from each other and categorized satellite orbits with eccentricity 0.14 and higher as elliptical.
- Propulsion tech - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
- Satellite Mass - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
- Satellite Subsystem - All the components and subsystems which includes propellants, buses, solar panels, other hardware of satellites are included under this segment.
| Keyword | Definition |
|---|---|
| Attitude Control | The orientation of the satellite relative to the Earth and the sun. |
| INTELSAT | The International Telecommunications Satellite Organization operates a network of satellites for international transmission. |
| Geostationary Earth Orbit (GEO) | Geostationary satellites in Earth orbit 35,786 km (22,282 mi) above the equator in the same direction and at the same speed as the earth rotates on its axis, making them appear fixed in the sky. |
| Low Earth Orbit (LEO) | Low Earth Orbit satellites orbit from 160-2000km above the earth, take approximately 1.5 hours for a full orbit and only cover a portion of the earth’s surface. |
| Medium Earth Orbit (MEO) | MEO satellites are located above LEO and below GEO satellites and typically travel in an elliptical orbit over the North and South Pole or in an equatorial orbit. |
| Very Small Aperture Terminal (VSAT) | Very Small Aperture Terminal is an antenna that is typically less than 3 meters in diameter |
| CubeSat | CubeSat is a class of miniature satellites based on a form factor consisting of 10 cm cubes. CubeSats weigh no more than 2 kg per unit and typically use commercially available components for their construction and electronics. |
| Small Satellite Launch Vehicles (SSLVs) | Small Satellite Launch Vehicle (SSLV) is a three-stage Launch Vehicle configured with three Solid Propulsion Stages and a liquid propulsion-based Velocity Trimming Module (VTM) as a terminal stage |
| Space Mining | Asteroid mining is the hypothesis of extracting material from asteroids and other asteroids, including near-Earth objects. |
| Nano Satellites | Nanosatellites are loosely defined as any satellite weighing less than 10 kilograms. |
| Automatic Identification System (AIS) | Automatic identification system (AIS) is an automatic tracking system used to identify and locate ships by exchanging electronic data with other nearby ships, AIS base stations, and satellites. Satellite AIS (S-AIS) is the term used to describe when a satellite is used to detect AIS signatures. |
| Reusable launch vehicles (RLVs) | Reusable launch vehicle (RLV) means a launch vehicle that is designed to return to Earth substantially intact and therefore may be launched more than one time or that contains vehicle stages that may be recovered by a launch operator for future use in the operation of a substantially similar launch vehicle. |
| Apogee | The point in an elliptical satellite orbit which is farthest from the surface of the earth. Geosynchronous satellites which maintain circular orbits around the earth are first launched into highly elliptical orbits with apogees of 22,237 miles. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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