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Sep 29, 2020 6:27 AM ET

Space Mining Market Will Generate Massive Revenue in Coming Years


Space Mining Market

iCrowd Newswire - Sep 29, 2020

A detailed Space Mining Market SWOT analysis provides strategic information on the strengths and weaknesses of key players in the market, categories and country growth prospects, challenges and intimidation from current competition and future growth prospects, and global and regional market positions.

Space mining also known as asteroid mining is a process that is involved in exploitation of raw materials from asteroids and other minor planets, as well as near-Earth objects. Minerals are extracted from a spent comet or asteroid, then taken back to Earth or utilized in space for construction materials.

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Top Dominating Key Players: Deep Space Industries, Inc., Planetary Resources, Inc., SpaceFab, The Roscosmos State Corporation, Asteroid Mining Corporation, Shackleton Energy Company, Kleos Space S.A., TransAstra Corporation, SpaceFab.US and National Aeronautics and Space Administration among others.

The key factors propelling the growth of space mining are increasing government initiatives and investments to frame regulations for asteroid mining and impending and ongoing space mining missions. Further, government initiatives resulting in rising number of start-ups and adoption of In-Situ Resource Utilization (ISRU) practice in space exploration are anticipated to provide growth opportunities over the next few years. However, high costs allied with asteroid mining and huge environmental risks due to mining activities are some of the restraints that are hindering the market to grow.

The reports cover key developments in the Space Mining Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Space Mining Market are anticipated to lucrative growth opportunities in the future with the rising demand for Vehicle Electrification market in the global market.

Space Mining Market is a combination of qualitative as well as quantitative analysis which can be broken down into 40% and 60% respectively. Market estimation and forecasts are presented in the report for the overall global market from 2019 – 2027, considering 2019 as the base year and 2019 – 2027 forecast period. Global estimation is further broken down by segments and geographies such as North America, Europe, Asia-Pacific, Middle East & Africa and South America covering major 16 countries across the mentioned regions. The qualitative contents for geographical analysis will cover market trends in each region and country which includes highlights of the key players operating in the respective region/country, PEST analysis of each region which includes political, economic, social and technological factors influencing the growth of the market.

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