(KTLA) — SANTA MONICA — Swarms of spacecraft may soon be mining asteroids for fuel and minerals and building spare parts in space, if a new private space venture has its way.

Harvesting the resources available in the giant space rocks flying around the solar system could allow spacecraft to build parts when they break or refill their tanks on the long trek to Mars, Deep Space Industries officials said in a news conference Tuesday at the Museum of Flying in Santa Monica.

Deep Space hopes to launch small, low-cost spacecraft called fireflies by 2015.

Note: Read our discussion guidelines before commenting.