Saudi Space Economy Reaches SAR 33 Billion in 2024
Driven by growing private sector interest, Saudi Arabia's space economy is expected to expand to SAR 119 billion by 2035.
Saudi Arabia's space economy reached a valuation of SAR 33 billion in 2024, according to the newly released 'Space Market in Saudi Arabia 2025' report. The sector is expected to continue expanding rapidly, with projections placing its future value at SAR 119 billion by 2035, supported by a compounded annual growth rate (CAGR) of 12%.
The report highlights that the local space market alone was valued at SAR 7.1 billion last year, reflecting increasing momentum in satellite development, earth observation capabilities, and satellite communications. It attributes this growth to a combination of government-led infrastructure initiatives and a rise in private sector participation.
Key trends identified include a shift toward localising satellite manufacturing, expanded use of geospatial data, and increased demand for secure and high-speed space-based communication services. These developments are aligned with Vision 2030 goals to diversify the national economy and position Saudi Arabia as a regional leader in advanced technologies.
Globally, the space economy is projected to reach SAR 6.7 trillion by 2035, with Saudi Arabia's share expected to grow significantly. The Kingdom's focus on developing local talent, encouraging international partnerships, and investing in commercial and scientific space missions is seen as central to achieving this growth.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mid East Info
a day ago
- Mid East Info
FSB Sports Show Riyadh spotlights 200 exhibitors powering next-gen sports & leisure solutions for Saudi Arabia's urban future
Smart, sustainable and inclusive products and services, including urban design, landscape architecture, sports surfaces and more at the inaugural edition Visitors can explore the future of sports and leisure infrastructure and network with key exhibitors, including Asharqiyah Cables, Yardex, Bejadin and BSG FSB Sports Show Riyadh takes place alongside the Saudi Sports & Leisure Summit, aligning with Vision 2030 and major national initiatives Saudi Arabia's ambitious plans for world-class sports infrastructure and recreation spaces are gaining momentum, supported by over $2 billion in committed investments and a projected $5.9 billion in sports sector revenue by 2030. With major international sporting events, including the Asian Cup 2027, Riyadh Expo 2030 and FIFA World Cup 2034 on the horizon, the Kingdom is accelerating development as part of Vision 2030. Aligned with this ambition, the debut edition of FSB Sports Show Riyadh is set to welcome thousands of industry leaders and professionals from 16–18 June at Riyadh International Convention & Exhibition Center. Organized by dmg events in collaboration with Koelnmesse, the event brings the internationally renowned FSB – International Trade Fair for Public Space, Sports and Leisure Facilities brand to Saudi Arabia for the first time, creating a dedicated business and networking platform for the Kingdom's fast-evolving sports and recreation landscape. 'From active cities and giga projects to school playgrounds and public parks, Saudi Arabia is transforming how it designs and delivers spaces for sports, wellness and recreation,' said Muhammed Kazi, Senior Vice President – Construction, dmg events. 'FSB Sports Show Riyadh has been developed to address this evolution and enable connections that can support long-term sector growth.' 'FSB is the international benchmark for innovations in sports and leisure facilities. As Saudi Arabia scales up investment across public parks, playgrounds or stadiums to increase the health and well-being of the public, now is the ideal time to bring this event to Riyadh,' said Denis Steker, Senior Vice President – International, Koelnmesse. 'Together with dmg events, we're proud to create an environment where industry leaders can exchange expertise, showcase capabilities and form long-term, sustainable partnerships.' Shaping Saudi Arabia's next generation of active spaces With public health, youth development and tourism among the key Vision 2030 priorities, FSB Sports Show Riyadh prioritizes integrated sports and wellness zones within giga projects, boosting green spaces in cities. The opportunities presented at the exhibition further encourage private sector investment in fitness, aquatics and leisure infrastructure. Across three days, the event will showcase equipment, flooring, turf, gym and fitness systems, playgrounds, outdoor furniture, water technologies, smart sports facilities and urban well-being solutions from both international pioneers and regional specialists. Some of the prominent participating brands include Asharqiyah Cables, a Saudi Arabian manufacturer specializing in control, instrumentation, low-current and fire-resistant cable; Yardex, a global artificial grass manufacturer providing high-quality synthetic turf for sports and landscaping applications; Bejadin, a Saudi Arabian focused on safety, electro-mechanical services and smart building solutions; and BSG, Polish company specializing in chemical component manufacturing and industrial solutions, among others, covering the needs of planners and buyers from municipalities, education, hospitality, defence and entertainment sectors. Decision-makers from across Saudi Arabia are actively seeking a robust sports infrastructure, durable equipment, playgrounds and leisure facilities that meet both quality and quantity demand. As the event approaches in under two weeks, visitors will have the opportunity to network with decision-makers from companies including Ministry of Sport, Ministry of Education, NEOM, Diriyah Gate Development Authority, Royal Commission for Riyadh City and General Entertainment Authority, among others. 'Saudi Arabia's sports sector is growing rapidly, evolving in scope and sophistication. We now see demand for more integrated and digitally enabled facilities that cater to every age group, community type and use case. FSB Sports Show Riyadh allows us to meet new clients, strengthen existing partnerships and deliver solutions built for the industry requirements, catering to our country's vision,' said Ahmed Al-Omair, Chief Executive Officer, ORF Construction Chemical Solutions. 'Saudi Arabia offers unmatched potential in the sports and leisure space, given the country's ambitious plans and the planned sporting events in the upcoming years. This show gives us the right stage to engage with buyers and developers who are actively working towards building the country's physical and recreational infrastructure,' said Genny Logan, General Manager, Faris Group. Exclusive insights from key stakeholders FSB Sports Show Riyadh will host two insightful content features, Saudi Sports & Leisure Summit and ActiveSpaces 360, both designed to explore the evolving demands of Saudi Arabia's sports infrastructure and leisure landscape. From future stadiums and recreational complexes to community activation and smart city integration, these sessions offer in-depth discussions tailored to a rapidly evolving market. Taking place on the first day of the event, 16 June, Saudi Sports & Leisure Summit will spotlight public-private collaboration, adaptive venue design, safety and smart facility management. Some of the top speakers sharing insights at the summit include Alanood Alothaimeen, Director of Strategy and Policies, Saudi Sports for All Federation; Paul Goodall, Associate Principal, Populous; Yehia Madkour, Middle East Director, Perkins & Will; John Seed, Group Director Strategy and Development, Dar Al Riyadh; among others. Key sessions will explore themes such as sustainable wellness-focused sports spaces, legacy-driven & multi-use venue design and global trends shaping the future of sports and leisure infrastructure. Running on 17 and 18 June, ActiveSpaces 360 will feature expert-led discussions on the design, construction and management strategies for urban and multi-use sports spaces. With speakers, including Tom Pinnington, Director, The Sports Consultancy, United Kingdom; Paul Rigby, Partner, FaulknerBrowns Architects, United Kingdom; Klaus Meinel, Secretary General, IAKS – International Association for Sports and Leisure Facilities; and Luis Guimaraes, Senior Manager at Alvarez & Marsal, among others, visitors will gain diverse insights from global and regional perspectives. Key sessions will cover sustainable maintenance and cleaning of synthetic surfaces, unlocking the social value of elite sports facilities and the latest innovations driving surface resilience and performance. From schools to stadiums, these forward-looking talks aim to equip stakeholders with strategies aligned with Vision 2030's focus on smart, inclusive and sustainable active environments. FSB Sports Show Riyadh is sponsored by Doka (Theatre Sponsor), with partners including Al Yamama (Sports Facilities Solutions Partner), Syngenta Turf & Landscape and Naffco (Founding Partners), AHK (Knowledge Partner), AIA Middle East (Architecture Partner), IAKS and ESTC (ActiveSpaces 360 Session Partners), Marafei Almarefah (Golfing Partner) and Teleiosx (Racing Partner). The free-to-attend FSB Sports Show Riyadh will be co-located with International Hardware Fair Saudi Arabia.
Daily News Egypt
a day ago
- Daily News Egypt
Egypt poised to lead regional 5G expansion, eyes additional spectrum, SME inclusion: Ericsson
Egypt is making significant progress towards a nationwide 5G rollout, but must accelerate spectrum allocation and foster adoption among small and medium-sized enterprises (SMEs) to fully realise the technology's potential, according to Iwan Stella, Vice President and Head of Commercial Management & Strategy at Ericsson for Europe, the Middle East and Africa. In an interview with Daily News Egypt, Stella welcomed Egypt's recent 5G licensing and network trials as 'important steps,' noting that modernisation initiatives and shared infrastructure are establishing a strong foundation. However, he emphasised the urgent need for more mid- and low-band spectrum to ensure reliable indoor coverage and scalable fixed wireless access (FWA) to meet both urban and industrial demand. 'Operators will only be able to deliver the low-latency connections required by Egypt's expanding industrial sector once sufficient spectrum is made available,' he said, stressing the importance of aligning with Egypt Vision 2030 through a phased rollout that balances cost efficiency with measurable milestones. While Egypt's digital infrastructure—including backhaul fibre networks and upgraded power systems—is largely 5G-ready, Stella noted that clear timelines for additional spectrum, particularly in contiguous mid-band ranges, will be critical for operators to complete network planning and accelerate deployment. He pointed to 'try-and-buy' initiatives and software-as-a-service (SaaS) models as practical methods to encourage 5G adoption among SMEs. 'Tiered service offerings—from basic connectivity for micro-enterprises to assured low-latency connections for advanced manufacturers—allow smaller businesses to scale services according to their needs,' Stella explained. Ericsson views Egypt's strong digital maturity and regulatory momentum as key differentiators in the region. Its strategy includes dual-band deployment—low-band for broad national coverage and mid-band for high-demand areas—combined with AI-powered network optimisation managed from Ericsson's Cairo-based Analytics Hub. To ensure a sustainable rollout, Stella called for transparent spectrum planning, robust cybersecurity frameworks, and incentives to encourage the adoption of energy-efficient network technologies—aligning both commercial goals and environmental responsibilities. With Egypt gaining international recognition for its broadband advancements, Stella urged policymakers to support the migration of legacy 2G, 3G, and 4G users to 5G-enabled devices. 'The quicker people and industries adopt 5G terminals—including FWA—the faster the return on investment. Once users experience high-performing 5G, they won't want to go back.' Despite cost sensitivity among SMEs, Stella believes innovations such as network slicing and edge services offer a practical bridge to private 5G capabilities without requiring heavy upfront investment. 'Egypt has all the ingredients to become a regional hub for 5G innovation,' he said. 'Ambitious infrastructure projects, a tech-savvy workforce, and a stable, secure spectrum policy can attract international R&D, cloud providers, and IoT manufacturers.'
CairoScene
2 days ago
- CairoScene
Private Sector Bank Claims in Saudi Arabia Reach SAR 3 Trillion
Credit to private businesses and individuals rose 15.2% in April 2025, totalling SAR 3.012 trillion. Private sector banking claims in Saudi Arabia have reached SAR 3.012 trillion as of April 2025, marking a 15.2% year-on-year increase, according to new data from the Saudi Central Bank. The figure reflects total credit issued to non-government entities, including businesses and households, and highlights continued expansion in the Kingdom's financial sector. The rise in private sector lending is supported by strong domestic demand and aligns with ongoing efforts to diversify the economy under Vision 2030. The latest increase also follows a 10% year-on-year growth in time and savings deposits, which reached SAR 949.7 billion by the end of 2024. Credit to the private sector now accounts for the bulk of bank lending activity in Saudi Arabia. The trend has drawn attention from ratings agencies such as Fitch, which forecast that Saudi banks would maintain one of the highest credit growth rates in the region throughout 2025.
