Space Mining Market

Market Definition

Space mining refers to the extraction of valuable resources such as metals, minerals, and water from celestial bodies, including asteroids, the Moon, and other planets. The market includes technologies, equipment, and services used to identify, extract, and process resources beyond Earth. 

It covers spacecraft, robotic systems, remote sensing instruments, and material handling units. It includes both public agencies and private firms engaged in commercial space activity, with applications in in-space resource utilization and potential material transport to Earth.

The global space mining market size was valued at USD 2,754.6 million in 2024 and is projected to grow from USD 3,411.8 million in 2025 to USD 16,068.6 million by 2032, exhibiting a CAGR of 24.53% during the forecast period. 

This growth is mainly fueled by rising interest in extracting valuable resources such as platinum, rare earth elements, and water from asteroids and other celestial bodies. Additionally, the growing investments by private space companies and national space agencies are accelerating technology development for off-Earth mining missions.

Key Market Highlights:

1. The space mining industry size was valued at USD 2,754.6 million in 2024.
2. The market is projected to grow at a CAGR of 24.53% from 2025 to 2032.
3. North America held a share of 34.09% in 2024, valued at USD 938.9 million.
4. The C-type segment garnered USD 997.7 million in revenue in 2024.
5. The spacecraft design & engineering segment is expected to reach USD 6,704.5 million by 2032.
6. The construction segment is projected to generate a revenue of USD 4,810.9 million by 2032.
7. Asia Pacific is anticipated to grow at a CAGR of 25.68% over the forecast period.

Major companies operating in the space mining market are Moon Express, ispace, Asteroid Mining Corporation, OffWorld, Inc., Trans Astronautica Corporation, AstroForge, Karman+, Helios Project Ltd, Eartheye Space, Interlune Corporation, SolSys Mining, SpaceGold Corporation, SpaceTIS, USN Solar Sky Mining, and NASA.

Space Mining Market Report Scope

Space Mining Market Regional Analysis

Based on region, the market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The North America space mining market accounted for a substantial share of 34.09% in 2024, valued at USD 938.9 million. This dominance is supported by its strong aerospace infrastructure and the active involvement of private space companies. 

U.S.-based firms are advancing asteroid mining technologies by investing in in-orbit servicing, propulsion development and resource extraction systems. Several companies are collaborating with aerospace manufacturers to accelerate the design and deployment of mission-ready platforms. 

These efforts support early-stage demonstration missions focused on extracting valuable materials from near-Earth asteroids, strengthening North America’s prominence in space mining initiatives.

• In February 2025, Karman+ raised USD 20 million to advance asteroid mining technologies. The funding will support its initial technology demonstration mission and customer missions by 2027, aiming to extract regolith and water from near-Earth asteroids to supply fuel and resources for the growing space economy.

The Asia-Pacific space mining industry is expected to register the fastest CAGR of 25.68% over the forecast period. This growth is fueled by increasing collaborations aimed at asteroid and lunar resource exploration. 

The regional market further benefits from joint efforts among technology firms, research institutions, and emerging space companies to develop mining technologies for the Moon and near-Earth asteroids.

Countries such as Japan, China, and South Korea are investing in joint ventures to advance robotic mining systems, in-situ resource utilization, and mission planning capabilities. 

These collaborations enhance knowledge sharing and accelerate technology development, enabling faster progress toward commercial space mining. The growing focus on lunar and asteroid resource projects is propelling regional market expansion.

• In December 2024, ispace, inc. and Magna Petra collaborated to advance future lunar missions focused on the sustainable prospecting, extraction, and return of helium-3 isotopes. The partnership aims to support the development of a lunar economy by deploying resource extraction technologies via ispace’s lunar landers, scheduled for launches through 2027.

Space Mining Market Overview

Supportive government policies and international collaborations are promoting the commercialization of space resources, thereby supporting market growth. 

National space laws that define extraction and ownership rights are promoting private investment, while public funding for research and technology development is enhancing exploration capabilities. 

This coordinated approach fosters a stable environment for commercial activity, with government leadership and international cooperation playing a key role in advancing space mining operations.

Market Driver

Depletion of Terrestrial Resources

The expansion of the market is boosted by the depletion of critical terrestrial resources. Industries such as aerospace, electronics, and renewable energy rely on minerals like platinum, cobalt, and rare earth elements, whose global reserves are declining amid rising demand. 

Terrestrial mining faces mounting challenges, including high operational costs, strict environmental rules, and geopolitical uncertainty. 

In response, companies and governments are exploring extraterrestrial sources, with the Moon and asteroids offering significant deposits of high-value metals. Space mining provides a viable solution to future shortages and is attracting investment in enabling technologies.

• In February 2025, AstroForge launched its Odin mission, a deep-space probe targeting asteroid 2022 OB5. The mission aims to identify platinum-group metals such as platinum and iridium, addressing the growing scarcity of these critical resources on Earth. This initiative marks a significant step toward commercial space mining focused on sourcing rare metals beyond terrestrial reserves.

Market Challenge

Limited In-Situ Resource Utilization (ISRU) Capabilities

A major challenge hindering the progress of the space mining market is the limited advancement of in-situ resource utilization (ISRU) systems. These technologies, essential for extracting water, oxygen, and other materials from lunar or asteroid surfaces, remain unproven in actual space conditions and require further testing. 

The extreme space environment, charaterized by low gravity, high radiation, and severe temperature fluctuations, adds complexity to operations. To address this challenge, companies and space agencies are deploying ISRU technologies during early exploration missions to locations such as the lunar surface and near-Earth asteroids. 

These efforts help test essential capabilities and establish reliability for future large-scale resource extraction across multiple celestial bodies.

• In April 2025, NASA confirmed the successful testing of its PRIME-1 mission, which validated the performance of TRIDENT and MSOLO ISRU technologies on the lunar surface. Despite the early end of the IM-2 mission, all instruments operated as planned, providing critical data to support future Artemis missions and lunar resource extraction systems.

Market Trend

Collaborative Missions Among Private Companies

The market is experiencing a rising trend toward collaborative missions between private companies. Companies are entering partnerships to share technical capabilities and reduce the cost of space exploration. These collaborations support faster deployment of resource extraction technologies on the Moon and asteroids. 

Companies are leveraging joint missions to validate equipment, test mobility systems, and prepare for future large-scale operations. This coordinated approach is strengthening the commercial space ecosystem and improving mission efficiency.

• In October 2024, ispace  . and Asteroid Mining Corporation signed a memorandum of understanding to collaborate on a future lunar mission. The agreement includes deploying AMC’s SCAR-E robot on an ispace lander as a technology demonstration for future asteroid and lunar resource exploration.

Market Segmentation

• By Asteroid (C-type, S-type, M-type, and Others): The C-type segment earned USD 997.7 million in 2024, primarily due to its high carbon content and abundance of water and volatile-rich minerals vital for in-space resource utilization.
• By Mission Phase (Spacecraft Design & Engineering, Launch Services, and Mining Operations & Logistics): The spacecraft design & engineering segment held a share of 42.17% in 2024, fueled by increasing investments in mission planning, structural development, and onboard mining technology.
• By Application (Construction, Extraterrestrial Commodity, Resource Harvesting, Fuel Mining, 3D Printing, and Others): The construction segment is projected to reach USD 4,810.9 million by 2032, owing to rising demand for in-situ infrastructure development to support long-term lunar and asteroid operations.

Regulatory Frameworks

• In the U.S., the Federal Aviation Administration (FAA), through its Office of Commercial Space Transportation (AST), regulates commercial space activities, including space mining missions.
• In Luxembourg, the Luxembourg Space Agency (LSA) oversees commercial space resource utilization, which grants legal rights to companies for resources they extract from space.
• In China, the China National Space Administration (CNSA) directs national space policy and exploration activities. While China has no standalone law specific to commercial space mining, it follows the Outer Space Treaty and supports state-led initiatives aimed at future in-space resource utilization.

Competitive Landscape

Companies operating in the space mining market are aligning with national space laws and international frameworks that support commercial mining beyond Earth orbit. Governments are establishing legal frameworks to promote private sector participation in off-Earth mining. 

Additionally, companies are securing investments from both private and public sources. These funds support the development of extraction systems, mission planning, and infrastructure for in-situ resource utilization. 

Regulatory alignment and strategic funding enable companies to build capabilities and prepare for sustained space mining operations.

• In October 2024, AstroForge received FCC approval for a commercial deep space spectrum license, authorizing communication operations for its Odin spacecraft beyond 2 million kilometers from Earth. The license supports AstroForge’s mission to extract asteroid resources and establishes a regulatory precedent for future deep space commercial operations.

Key Companies in Space Mining Market:

• Moon Express
• ispace
• Asteroid Mining Corporation
• OffWorld, Inc.
• Trans Astronautica Corporation
• AstroForge
• Karman+
• Helios Project Ltd
• Eartheye Space
• Interlune Corporation
• SolSys Mining
• SpaceGold Corporation
• SpaceTIS
• USN Solar Sky Mining
• NASA

Recent Developments (Partnership)

• In May 2025, Interlune partnered with Vermeer Corp. to unveil a full-scale lunar excavator prototype and announced agreements with the U.S. Department of Energy and Maybell Quantum Industries for the supply of lunar helium-3, marking the first commercial contracts for returning and selling space-mined helium-3 on Earth.