Market Size of space mining & robots Industry
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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.
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 |
Space Mining & Robots Market Size Summary
The Space Mining & Robots Market is an emerging sector with significant growth potential, driven by advancements in robotics and automation technologies. This market focuses on the extraction of resources from celestial bodies such as asteroids and the moon, leveraging technologies like autonomous robots, machine learning, and advanced sensors. The increasing interest and investment from private companies and space agencies are fueled by the prospect of obtaining valuable resources, including rare metals and water. The market is characterized by a high level of innovation, with notable projects like NASA's DART mission, which aims to test asteroid deflection techniques. The market's growth is supported by the expanding satellite manufacturing industry, particularly in regions like Europe, North America, and Asia-Pacific, where demand for various satellite masses is on the rise.
The global space mining and robots market is expected to experience substantial growth over the forecast period, with Europe anticipated to hold a significant market share, followed by North America, the Rest of the World, and Asia-Pacific. The market is fairly consolidated, with major players such as Astrobotic, iSpace Inc., Maxar Technologies Inc., MDA Ltd, and Northrop Grumman Corporation dominating the landscape. These companies are actively involved in developing and deploying technologies for space mining and robotics. Additionally, government investments in space activities are increasing, with countries like the United States, Germany, France, Italy, Japan, India, and South Korea allocating substantial budgets to support their space programs. This growing financial backing, coupled with technological advancements, is expected to drive the market's expansion and enhance its competitive landscape.
Space Mining & Robots Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
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1.1 Region
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1.1.1 Asia-Pacific
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1.1.2 Europe
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1.1.3 North America
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1.1.4 Rest of World
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Space Mining & Robots Market Size FAQs
How big is the Space Mining & Robots Market?
The Space Mining & Robots Market size is expected to reach USD 2.05 billion in 2024 and grow at a CAGR of 14.19% to reach USD 3.98 billion by 2029.
What is the current Space Mining & Robots Market size?
In 2024, the Space Mining & Robots Market size is expected to reach USD 2.05 billion.
