The Saudi Arabian space economy is on a rapid growth trajectory, with its value reaching $8.7 billion in 2024 and expected to hit $31.6 billion by 2035. This expansion is driven by advancements in technologies and services, with an annual growth rate of 12 percent.
A report by the Communications, Space and Technology Commission highlights that the Kingdom’s commercial space services and infrastructure, valued at $1.9 billion in 2024, are anticipated to grow to $5.6 billion by 2035. This growth is fueled by increased investments in technology and infrastructure.
The report serves as a roadmap for the development of the space sector, enhancing competitiveness and identifying investment opportunities. CST Gov. Mohammad Al-Tamimi attributes this progress to leadership support, which fosters investment and talent development, aligning with Saudi Vision 2030 to build a competitive space economy.
Al-Tamimi emphasized the report’s role in guiding decision-makers and investors toward future trends and growth opportunities in the space sector. Key trends include advancements in Earth observation data, infrastructure services, communication systems, and sensing technologies.
The report also notes the rise of small satellites and increased private sector involvement in the space market. On a global scale, the space economy is set to grow from $687 billion in 2024 to $1.8 trillion by 2035, with a 9 percent annual growth rate, while the global space market is projected to increase from $176 billion to $377 billion during the same period.