Global Asteroid Mining market overview 2024, Forecast To 2033

The asteroid mining market size has experienced exponential growth in recent years, surging from $1.37 billion in 2023 to$1.69 billion in 2024 at a compound annual growth rate (CAGR) of 23.6%. The growth in the historic period is attributed to the evolving space industry landscape, space race and Cold War era influences, conceptualization and feasibility studies, scientific research and exploration missions, and space mining advocacy. Looking ahead, the market size is projected to witness exponential growth, reaching $3.79 billion in 2028 at a compound annual growth rate (CAGR) of 22.3%. This growth in the forecast period is driven by the development of infrastructure, reduction in launch costs, scientific exploration, environmental concerns, space colonization and sustainability efforts, and space-based manufacturing. Major trends in the forecast period include resource scarcity on Earth, growing space exploration initiatives, advancements in space infrastructure, demand for rare metals, and technological innovation for extraction.