Lunar market assessment

The Moon is rapidly emerging as a potential focal point for future global economic activity  in space, marking a significant transition from purely scientific missions to ambitions centered on sustained human and commercial presence. Over the past decade, accelerated investments from space agencies and private industry have positioned the Moon as a strategic platform for infrastructure development, resource utilization, and commercial activity. Programs such as NASA’s Artemis, China’s International Lunar Research Station, and initiatives from ESA and JAXA highlight a global push toward establishing long-term lunar infrastructure. However, the pace and scope of these initiatives is closely tied to stable funding and political commitment and ,while there is renewed attention on the Moon, the development of a lunar economy remain at an early stage, still largely driven by government investments and supported by industrial actors preparing for potential future commercial opportunities. 

The “Lunar market assessment – 2nd Edition” by PwC’s Space Practice teams in France and Japan provides a comprehensive analysis of the opportunities and challenges shaping this new frontier. The report builds on the previous 2021 assessment, integrating policy analysis, technological evaluation, and economic forecasting to offer an updated perspective on the rapidly evolving lunar ecosystem. The study adopts a scenario-driven approach, forecasting market opportunities for lunar surface activities from 2026 to 2050. The focus is on five foundational pillars: mobility, communication, habitation, energy, and water. Each domain is analyzed in terms of investment needs, technological inflection points, and potential revenue streams. The methodology combines publicly available data, planned mission architectures, and expert interviews, providing a credible baseline for near-term developments and extrapolating trends for the coming decades.

Key findings reveal that the lunar economy’s growth will be driven by the number of missions, projected crew presence, and the infrastructure required to support them. The transition from government-led initiatives to greater private sector participation is already underway, with new commercial opportunities emerging around infrastructure provision, in-situ resource utilization, and surface services. The market assessment quantifies both the investments required and the revenue potential across each segment, highlighting the scale and complexity of the lunar opportunity. The report underscores the critical importance of regulatory clarity, technological robustness, and stable funding for sustainable lunar development. Technological breakthroughs—such as in-situ resource utilization, 3D printing, and nuclear reactors—are identified as key enablers for cost reduction and scalability. Ultimately, lunar activities are expected to deliver tangible benefits to Earth through technology transfer and industrial innovation, while serving as a strategic gateway for future Mars exploration too.

Download the full report or contact our experts to learn how your organization can participate in the next phase of lunar development.