According to the Communications, Space, and Technology Commission (CST), Saudi Arabia’s space economy reached a valuation of $8.7 billion in 2024. This figure includes all value-added activities and industries connected to space technologies and services within the Kingdom. The domestic space market alone was worth $1.9 billion, reflecting strong momentum in satellite development, Earth observation, and satellite communications.
This remarkable growth stems from robust government support aligned with Saudi Vision 2030, which seeks to diversify the national economy and position the Kingdom as a global hub for space innovation. The government invests heavily in satellite manufacturing, space infrastructure, rocket production, and advanced communication systems. It also emphasizes nurturing local talent and boosting private sector participation in the space industry.
Rapid Growth Ahead
Saudi Arabia’s space economy is projected to grow at a compound annual growth rate (CAGR) of 12%, reaching $31.6 billion by 2035. The domestic market is expected to expand to $5.6 billion during the same period, driven by cutting-edge space technologies and sustained infrastructure investment.
Key Growth Drivers
Major sectors fueling this growth include:
- Satellite communications
- Earth observation technologies
- Rocket and satellite manufacturing
- Satellite-based navigation systems
Rising demand for secure, high-speed communication and the development of small satellites also contribute significantly to this expansion. These trends reflect a global shift toward increased private sector involvement and renewed interest in space exploration.
Positioning Saudi Arabia as a Global Space Leader
Saudi Arabia’s continued focus on space as a strategic sector enhances its technological capabilities and strengthens its regional and global standing in the space economy. Under Vision 2030, the Kingdom lays the groundwork to become a leading player in the global space race.
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I’m Soha Owais, an aspiring legal professional in my LLB Hons Finals, combining my passion for law with a talent for storytelling. As an author and writer at Saudiscoop.com, I create compelling narratives that connect with both local and global audiences, offering fresh insights into impactful stories.
