Analysis of Technology, Economic, and Legislation Readiness Levels of Asteroid Mining Industry: A Base for the Future Space Resource Utilization Missions

Abstract

From their initial discovery in 1848, asteroids have been recognized as valuable resources. Although not yet economically viable, asteroid mining is becoming increasingly technologically feasible. The ongoing missions, such as Lucy, Psyche 16, Hayabusa-2, and OSIRIS-REx developed by students, scientists, space agencies, and private companies, continue to improve the technology and cost readiness levels of the space mining industry. This article contextualizes the advances and prospects for the development of asteroid mining activities by building on the success of previous space resource exploration missions and predicting the future of resource utilization in development of space habitats. More than just providing a state of the art, this article highlights the importance of sustainable investments in asteroid mining projects, the strategies in vogue, and identifies the mission feasibility factors. First, this article provides an analysis of space resource exploration missions and the type of asteroids cataloged by space agencies, the International Asteroid Warning Network (IAWN) and the United Nations Office for Outer Space Affairs. Second, this article presents key factors influencing legal, ethical, economic logistics, and technological advancements of asteroid mining missions. This also includes technoeconomic analysis of key technological factors such as accurate trajectory calculation and prediction, maneuvering capabilities, where simple performance improvements bring the asteroid and Moon mining projects nearer to their economic attainability. Finally, the impact of cost, technology readiness levels, and mission feasibility on recent unmanned space resource missions is presented, providing recommendations to bridge the existing gaps for mission execution and implementation levels. The growing threats of an asteroid impact, coupled with rapid depletion of natural resources on Earth, make asteroid mining an increasingly urgent subject. Since the existing state of technology does not meet appropriate standards, this work not only identifies and lists the current and past successful techniques and potential alternatives to gain maturity for asteroid mining missions but also presents the specific logistic aspects such as bridging the gaps in terms of legislation, in-orbit construction, and servicing using the mined resources based on existing literature. This article supports the IAWN, Impact Disaster Planning Advisory Group, Space Mission Planning Advisory Group, Space agencies, educational institutions, and interested stakeholders by providing a critical analysis of state of the art for optimal future development of the space mining industry.