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.
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