Tag: SpaceEconomy
Space Exploration Fuels Innovation and Economic Opportunities, Paving the Way for Asteroid Mining
Debates over the cost and practicality of space exploration have been a point of contention for decades, yet the potential for innovation and economic gain remains a constant driver. Astrophysicist Neil deGrasse Tyson argues that the first trillionaire could be someone who mines asteroids for natural resources. [more…]
The Economics of Space Mining: A Science Fiction Dream or Commercial Quandary
It’s hard to quantify the worth of scientific breakthroughs. However, the commercial viability of asteroid mining remains questionable, unless we’re imagining a scenario straight out of science fiction where metals cost a fortune. In reality, Earth itself offers more economically feasible options for metal extraction. Although innovation [more…]
Space Mining Industry Gains Traction, Economists Weigh Future Impact on Economy
As space agencies intensify their focus on asteroids, the space mining industry is also on the rise, garnering attention from economists. A study by Ian Lange from the Colorado School of Mines suggests that within 30 to 40 years, the production of some metals from space could [more…]
NASA’s Psyche Mission to Metal-Rich Asteroid Sparks Conversation on Future of Asteroid Mining
NASA’s Psyche mission, set to launch on October 12, 2023, is the first of its kind to study an M-type (metallic) asteroid, known as asteroid 16 Psyche. This mission aims to uncover secrets about our Solar System’s formation and evolution, but it’s also fuelling interest in the [more…]
Earth and Space Mining Sensors Market Expected to Reach $1.81 Billion by 2027
The Business Research Company’s “Earth and Space Mining Sensors Global Market Report 2023” predicts the market will grow to $1.81 billion by 2027, with a CAGR of 7.8%. The report attributes this growth to rising demand for metals and minerals and forecasts North America to hold the [more…]
Comprehensive Analysis Analyzes the Future of Space Mining Industry
A new white paper offers valuable insights into the burgeoning industry of space mining. The research covers key topics, including the unique challenges and safety considerations of extracting resources like water ice, precious metals, and rare earth elements in space. Additionally, the paper explores the legal landscape [more…]
Unlocking Space Mining’s Sustainable Growth Potential
A recent paper outlines key areas for future research to better understand the implications and potential of space mining for sustainable growth on Earth. These areas include the development of more comprehensive growth models, understanding the optimal sequence of mining and processing in space versus Earth, and [more…]
North America Leads in Space Mining Market; Type C Asteroids and Platinum Group Materials Dominate Targets
In 2020, North America held the largest share of the global space mining market, accounting for around 51.11% due to increased government and private sector investment. Type C (Chondrite) asteroids were the most targeted, comprising about 56.51% of the market share. These asteroids make up over 75% [more…]