The satellite broadband market is expected to sustain an addressable user base of 650 to 750m through 2033.
Analyst Report
The Saudi space market is projected to reach $5.6bn by 2035, supported by space technologies.
The Total Operating Revenues at the end of 2024 reached $101.1m, compared to $101.8m in the previous year, reflecting a slight decrease of 0.67%.
The company delivered EBITDA of $317m, with an eight-percentage-point margin increase, and ended the year with a cash position exceeding $1.1bn.
Government investment remains a key factor in driving growth, with global military space budgets exceeding $64bn.
Defence spending has driven government space budgets to historic highs.
Space debris, AI and cybersecurity take centre stage, alongside government and commercial collaboration to fuel growth.
In 2024, investments over $1.7bn, and the availability of 20+ satellite-compatible smartphones accelerated the sector's growth.
This is the second consecutive year of rapid growth for Starlink. The company almost tripled traffic in 2023.
