Saudi Arabia’s space economy has reached $8.7 billion in 2024, according to the Communications, Space, and Technology Commission (CST). This figure covers all industries and activities linked to space technology and services.
CST’s KSA Space Market 2025 report reveals that the Saudi space market alone was valued at $1.9 billion last year. The report provides insights into market trends, growth opportunities, and supports investors and entrepreneurs looking to engage in the space industry.
Dr. Mohammad Altamimi, governor of the CST, highlighted that strong backing from the kingdom’s leadership is driving investment, infrastructure, and the development of local talent. These efforts are closely tied to the goals of Saudi Vision 2030, aiming to build a sustainable and competitive space sector.
The report forecasts significant expansion, with the Saudi space economy expected to hit $31.6 billion by 2035, reflecting a 12 percent compound annual growth rate, according to the CST. On a global scale, the space economy is projected to reach $1.8 trillion by 2035, with a 9 percent compound annual growth rate.
By 2035, Saudi Arabia’s space market is anticipated to grow to $5.6 billion, driven by advancements in space technology. The global space market, valued at $176 billion in 2024, is set to more than double by 2035.
- Rise of private sector involvement
- Increasing demand for satellite services
- Renewed interest in space exploration
The report also points to major investment areas such as satellite communications, navigation, rocket manufacturing, and Earth observation.
In summary, Saudi Arabia is rapidly advancing its space sector, positioning itself as a regional leader and supporting economic diversification in line with Vision 2030.
