The Communications, Space, and Technology Commission (CST) has revealed that Saudi Arabia’s space economy reached $8.7bn in 2023, encompassing all space-related technologies and services. The space market alone accounted for $1.9bn, according to findings from the newly released KSA Space Market 2025 report.
The report provides a comprehensive overview of local and global space sector developments, aiming to support market competitiveness, guide investors and entrepreneurs, and highlight emerging opportunities in the Kingdom’s rapidly expanding space industry.
CST Governor Dr Mohammad Altamimi attributed this growth to the robust support from Saudi leadership, which has accelerated infrastructure development, investment, and the cultivation of national talent. These initiatives align with the goals of Vision 2030, positioning the Kingdom as a regional and global hub for space innovation and technology.
Altamimi noted that the report is part of CST’s wider mission to empower the space sector as a key economic driver, helping to elevate Saudi Arabia’s international standing in advanced technologies.
Looking ahead, the Saudi space economy is expected to reach $31.6bn by 2035, driven by a compound annual growth rate (CAGR) of 12%. This projection coincides with anticipated global growth in the sector, where the worldwide space economy is forecast to hit $1.8tn, growing at a CAGR of 9%.
The Kingdom’s space market is also on track to expand significantly, with projections showing it will grow to $5.6bn by 2035, supported by continuous investments in cutting-edge space technologies. Meanwhile, the global space market, which stood at $176bn in 2024, is expected to more than double to $377bn by the same year.
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