Summary

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). 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. 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.

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).

Additional Benefits:

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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
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)
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
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
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