Edison, NJ -- (SBWIRE) -- 01/24/2019 -- AdvanceMarketAnalytics, a global market research and consulting organization, have released a new study titled "Space Mining market - Global outlook to 2024".
Industries constant focus on reducing the operational cost and increased attention on core business, and need to improve scalability are expected to shape the Global Space Mining market to grow at a CAGR of 21.95%.

The By Phase, such as Spacecraft Design, is boosting the Space Mining market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

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The By Type of Asteroid, such as Type C, is boosting the Space Mining market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

The Based on Their Distance from Earth, such as Near-Earth Asteroids (NEAs), is boosting the Space Mining market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

The By Types of Commodity Resources , such as Water, is boosting the Space Mining market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

According to AMA research team, the Global Space Mining market will experience significant growth during the forecast period due to potential opportunities lying in the market such as . Some of the important driving forces are "Government Initiatives for Space Exploration Activities and Increasing Space Mining Operations in Developed Economies".

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Deep Space Industries (United States) , Planetary Resources (United States) , Moon Express (United States) , I Space (Japan) , Asteroid Mining Corporation (United Kingdom) , Shackleton Energy Company (United States) , Kleos Space (Luxembourg) , Trans Astra (United States) , Off World (United States) , SpaceLab (United States) , National Aeronautics and Space Administration (United States) and European Space Agency (France) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Japan Aerospace Exploration Agency (Japan) , China National Space Administration (China) and Russian Federal Space Agency (Russia).
Space mining market is concentrated owing to the number of companies present in the market. Some of the major companies are National Aeronautics and Space Administration, Deep Space Industries, Planetary Resources, and others. Market leaders are focusing on technological development such as automated mining tools, in-situ resource utilization, robotic and automated factories for space exploration.
Market Drivers

- Government Initiatives for Space Exploration Activities
- Increasing Space Mining Operations in Developed Economies

Market Trend

- Growing Automated Techniques Such As Robotic Mining for Space Mining

Restraints

- High Cost Associated With Space Mining

Opportunities

Growing Research and Development for In-Situ Resource Utilization

12 September 2018, Luxembourg Space Agency (LSA) started its operations with a goal to boost exploration and commercial application of resources from near earth object.

Space mining refers to exploitation of raw materials from numerous near earth objects and asteroid. These minerals can be used for space construction purpose and be brought to earth for use. out of all the asteroid, C type Asteroid is dominating the space mining market owing to their composition involves a large quantity of carbon, minerals, and rocks. Further, technological development regarding automated mining techniques such as robotics mining and in-situ resource utilization creating lucrative opportunities for the companies involved in space mining operations as the recent launch of SpaceX's Falcon Heavy prove to cause disruption and will make the space mining a reality anytime soon.

**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2018 currency rates.

To comprehend Global Space Mining market dynamics in the world mainly, the worldwide Space Mining market is analyzed across major regions. HTF MI also provides customized specific regional and country-level reports for the following areas.

- North America: United States, Canada, and Mexico.
- South & Central America: Argentina, Chile, and Brazil.
- Middle East & Africa: Saudi Arabia, UAE, Turkey, Egypt and South Africa.
- Europe: UK, France, Italy, Germany, Spain, and Russia.
- Asia-Pacific: India, China, Japan, South Korea, Indonesia, Singapore, and Australia.

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In this study, the years considered to estimate the market size of Global Space Mining are as follows:
History Year: 2013-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025

Key Stakeholders in Global Space Mining Market:
Global Space Mining Manufacturers
Global Space Mining Distributors/Traders/Wholesalers
Global Space Mining Subcomponent Manufacturers
Industry Association
Downstream Vendors

**Actual Numbers & In-Depth Analysis, Business opportunities, Market Size Estimation Available in Full Report.

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