Saudi space economy reaches $8.7bn in 2024, CST announces
The Saudi space market is projected to reach $5.6bn by 2035, supported by advancements in space technologies
Saudi Arabia’s space economy reached $8.7bn in 2024, according to the Communications, Space, and Technology Commission (CST). The figure includes all value-added activities and industries related to space technologies and services.
The size of the Saudi space market reached $1.9bn last year, CST said in its newly released KSA Space Market 2025 report.
The report aims to highlight the latest developments and growth in local and global space market sizes, support market development and competitiveness, assist investors and entrepreneurs in the sector, and identify promising opportunities in the space industry.
Saudi space sector growth aligned with Vision 2030
CST governor Dr Mohammad Altamimi emphasised that strong support from the kingdom’s leadership is accelerating investment, infrastructure development, and the empowerment of national talent.
These efforts contribute to achieving the goals of Saudi Vision 2030 and establishing a competitive, sustainable space economy both regionally and internationally.
Dr Altamimi said the report extends CST’s efforts to enable the space sector as a new economic driver that strengthens the kingdom’s global position in technology and innovation.
He added that it serves as a valuable resource for decision-makers, investors, and entrepreneurs to understand future trends and promising growth opportunities in the sector.
The report also highlights the rapid growth of the Saudi space economy, which is expected to reach $31.6bn by 2035, with a compound annual growth rate (CAGR) estimated at 12 per cent, supported by investments in space sector infrastructure.
The global space economy is projected to reach $1.8tn by 2035, with a CAGR of 9 per cent.
Growth outlook by 2035
The Saudi space market is projected to reach $5.6bn by 2035, supported by advancements in space technologies. Globally, the space market reached $176bn in 2024 and is forecast to grow to $377bn by 2035.
Notable developments in both local and global space markets outlined in the report include Earth observation data analysis, infrastructure services, integrated communication systems, advanced sensing systems, and the development of small satellites.
The report also highlights global shifts in the sector, such as the entry of private sector players, growing demand for satellite-based services, and renewed interest in space exploration.
It further addresses investment in the Saudi space sector and key areas of development, such as satellite communications and navigation, rocket manufacturing and launch services, and satellite-based Earth monitoring.
