What Happened
New Space Economy Emerges With Robotic Extraction
The space industry is expanding beyond traditional satellite launches and research missions, with asteroid mining emerging as a promising new market. According to a study by ResearchAndMarkets, the asteroid mining market could demonstrate rapid growth in the coming years, driven by growing demand for rare materials and advancements in autonomous technologies. Companies such as Planetary Resources, Deep Space Industries, and Asteroid Mining Corporation are leading the development of this field, with North America holding the largest market share. The growth of the space economy is expected to continue, with estimates suggesting the global space market could reach $1.3 trillion by 2040, as reported by NEWS.am TECH.