Guidehouse Insights Report Finds Space Mining as a Means to Sustainable Travel on Earth and in Space

September 28, 2021

By Automotive Editor

Providers of technology require public and private partnerships to mitigate prohibitive costs

BOULDER, Colo.–(BUSINESS WIRE)–#EV–A new report from Guidehouse Insights examines the economic drivers of space mining technology and the technical, economic, and regulatory challenges as well as recommendations for stakeholders in the space mining market.

Mining various resources beyond Earth is rapidly approaching both technological and economic viability. Electric vehicles (EVs), utility-scale electric production and storage, and the Internet of Things (IoT) are driving growth in the demand for rare earth elements (REEs). However, according to a new report from Guidehouse Insights, extreme barriers to entry in these markets require partnerships with government space agencies and large commercial players to offset otherwise prohibitive costs.

“Increasing supplies of REEs would facilitate the adoption of sustainable means of travel by driving down the high costs associated with distributed electricity storage and generation,” says Clay Killingsworth, research analyst with Guidehouse Insights. “However, providers of services and niche technology crucial to off-world mining must partner with both private and public entities that have launch capabilities to successfully transition from concepts to commercially viable products and services.”

To realize market potential, Guidehouse Insights recommends market players invest in capabilities that enable rapid realization and scaling of potential mining operations on the Moon and near-Earth asteroids as well as cultivate strategic partnerships with private enterprises and government bodies to mitigate costs.

The report, Space Mining Can Enable Sustainable Travel Both on and off Earth, describes the economic drivers of space mining technology and identifies technical, economic, and regulatory challenges to space mining and potential avenues for addressing them. The report also provides recommendations for market participants and discusses the ways in which market potential could be realized. An executive summary of the report is available for free download on the Guidehouse Insights website.

About Guidehouse Insights

Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.

About Guidehouse

Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. We help clients address their complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 10,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.

* The information contained in this press release concerning the report, Space Mining Can Enable Sustainable Travel Both on and off Earth, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.