Space Mining Market: Industry Outlook, Trends & Forecast (2024–2030)
The global space mining market size was estimated at USD 1.64 billion in 2023 and is estimated to grow at a CAGR of 17.6% from 2024 to 2030. The surge in investments for space mining activities is expected to drive the market. These investments are supported by the convergence of technological advancements, increasing private sector interest, and strategic anticipation for future resource demands. The advancement has lowered the capital cost for space mining activities and is expected to support the market growth. Advancements in technology have significantly reduced the barriers to accessing space, making it feasible for private and government companies to explore space resources. This technological advancement includes more efficient propulsion systems, reusable rockets, and robotics and automation, which are expected to assist in cost-effective missions to asteroids and other minerals such as platinum, gold, and rare earth elements. Key Space Mining Com...