South Korea Space Mining Market Size, Share, and COVID-19 Impact Analysis, By Phase (Spacecraft Design, Launch, and Operation), By Asteroid Type (Type C, Type S, Type M, and Others), and South Korea Space Mining Market Insights, Industry Trend, Forecasts to 2035.

South Korea Space Mining Market Insights Forecasts to 2035

• The South Korea Space Mining Market Size is Expected to Grow at a CAGR of around 18.6% from 2024 to 2035
• The South Korea Space Mining Market Size is Expected to reach a significant share by 2035.  

According to a research report published by Spherical Insights & Consulting, The South Korea Space Mining Market Size is Expected to Grow 18.6% CAGR from 2023 to 2033, is Expected to reach a significant share by 2035. The combination of growing private sector interest, technology breakthroughs, and strategic foresight into future resource demands supports these investments. The development is anticipated to fuel market expansion and reduce the capital cost of space mining operations.

Market Overview:

The industry devoted to obtaining valuable minerals from asteroids and other celestial bodies is known as the "space mining market." This includes searching for, taking advantage of, and using resources from asteroids, the Moon, and other planets, such as water, metals, and minerals, that can be utilized on Earth or in space. The market is driven by the restrictions of terrestrial mining, the need for resources, and the possibility of manufacturing in space. By giving access to rare earth elements and other essential commodities, space mining could alleviate Earth's resource shortage and possibly stabilize its pricing. The rise of space mining businesses may lead to the development of new sectors and employment prospects in resource processing, robotics, and space exploration. Reliance on Earth-based resources for space infrastructure and habitats can be decreased via the development of technology for resource extraction and utilization in space, such as 3D printing using mined materials. As the frequency of missions to the Moon and Mars increases, there is an increasing need for commodities in space, including fuel, building materials, and water. Reliance on Earth-based resources can be decreased by using space mining to extract these resources. Space mining activities are becoming more economical and efficient thanks to developments in robotics, automation, and 3D printing. For instance, 3D printing makes it possible to build habitats and space stations out of materials that are mined on-site, which lessens the need for transportation from Earth. Government space agencies are creating rules to control resource extraction and use and issuing licenses for space operations, including mining.

Report Coverage

This research report categorizes the market for the South Korea space mining market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea space mining market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea space mining market.

Driving Factors

The rising demand for resources like rare earth elements, nickel, and platinum, which are used in batteries, semiconductors, and high-tech equipment. One possible way to restore these resources and lessen dependency on Earth's limited supply is through asteroid mining. Progress in space exploration tools, robotic mining systems, and AI-powered asteroid detection technologies are making space mining more feasible and efficient. Increasing investments from private companies and individuals are deriving innovation and development in space mining technologies and strategies.

Restraining Factors

A large investment in robotic systems, spacecraft, and specialized equipment for extraction and transfer, space mining is extremely costly. Mining activities in space have the potential to contribute to space debris and harm celestial bodies. Conflicts over resource ownership and control between nations and companies may arise as space mining develops.

Market Segmentation

The South Korea space mining market share is classified into phase and asteroid type.

• The spacecraft design segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea space mining market is segmented by phase into spacecraft design, launch, and operation. Among these, the spacecraft design segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.  In space mining design, reliable technology that can function in the hostile environment of space must be integrated. For mobility and effective flight to far-off asteroids or planetary bodies, these spacecrafts require sophisticated propulsion systems.

• The type C segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea space mining market is segmented by asteroid type into type C, type S, type M, and others. Among these, the type C segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The potential for asteroids to supply minerals necessary for maintaining life in space habitats and assisting with deep-space expeditions makes them valuable. In the upcoming years, water from C-type asteroids may prove to be an essential resource for agriculture, drinking, and spacecraft propellant production.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea space mining market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Korea Aerospace Research Institute (KARI)
• Korea Aerospace Industries (KAI)
• Satrec Initiative
• Innospace
• Perigee Aerospace
• SPACEMAP
• Hanwha Aerospace
• LIG Nex1
• Doosan Heavy Industries & Construction
• Hyundai Heavy Industries
• SK Telecom
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Koreas, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea space mining market based on the below-mentioned segments

South Korea Space Mining Market, By Phase

• Spacecraft Design
•  Launch
• Operation

South Korea Space Mining Market, By Asteroid Type

• Type C
• Type S
• Type M
• Others