Saudi Arabia’s space economy reached $8.7 billion in 2024 with experts expecting it to grow to $31.6 billion by 2035. This insight comes from the recent Space Market Report 2025, released by the Communications, Space and Technology Commission (CST).
The CST report highlights that the growth includes all value-added activities linked to technologies and services. Analysts project a compound annual growth rate (CAGR) of 12 percent. For 2024, the Kingdom’s space market focused on commercial services was valued at $1.9 billion. By 2035, it should reach $5.6 billion, driven by increased investment in technologies and infrastructure.
The report aims to track the growth trajectories of both domestic and global space sectors. It also highlights efforts to enhance competitiveness and identify investment opportunities. CST Governor Mohammad Al-Tamimi emphasized the leadership’s strong support. This support accelerates investments and infrastructure development while enabling national talents.
Aligning with Saudi Vision 2030
Al-Tamimi noted that these efforts align with Saudi Vision 2030. They aim to establish a competitive, sustainable space economy on both regional and international levels. Furthermore, Al-Tamimi stated that the analysis is part of CST’s ongoing commitment to making the space sector a key economic driver. This growth also enhances the Kingdom’s global standing in technology and innovation.
The published report serves as a valuable resource for decision-makers, investors, and entrepreneurs. It helps them understand future trends and uncover promising growth opportunities within the sector.
Key Movements in the Space Sector
The study outlines several trends shaping the space industry, including an increase in Earth observation data analysis, infrastructure services, integrated communications systems, and advanced sensing technologies. Moreover, it highlights the rising development and deployment of small satellites. The expanding role of the private sector in both local and international space markets also signifies this growth.
Globally, experts predict the space economy will explode from $687 billion in 2024 to $1.8 trillion by 2035. This represents an impressive CAGR of 9 percent. Additionally, the global space market is expected to surge from $176 billion to $377 billion, achieving a CAGR of 7 percent over the same period.
