Space Mining & Robots Market Trends

Statistics for the 2023 & 2024 Space Mining & Robots market trends, created by Mordor Intelligence™ Industry Reports. Space Mining & Robots trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of space mining & robots Industry

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.
Global Space Mining & Robots Market

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.
Global Space Mining & Robots Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

Space Mining & Robots Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029