Riyadh – Sharikat Mubasher: Saudi Arabia’s space economy reached $8.7 billion in 2024 and is projected to grow to $31.6 billion by 2035, according to the Space Market Report 2025 published by the Communications, Space, and Technology Commission (CST).

The report estimates a compound annual growth rate (CAGR) of 12 percent across all activities tied to space technologies and services.

The Kingdom’s commercial space market, including services and infrastructure, was valued at $1.9 billion in 2024 and is expected to grow to $5.6 billion by 2035, supported by increased investment and infrastructure development.

Mohammad Al-Tamimi, CST Governor, credited strong government support for advancing investment and talent development in the sector. He emphasized that these efforts align with Saudi Vision 2030 and aim to establish a globally competitive and sustainable space economy.

The report also highlights key trends shaping the industry, such as the rise of Earth observation data, integrated communication systems, small satellite development, and greater private sector involvement.

Globally, the space economy is projected to grow from $687 billion in 2024 to $1.8 trillion by 2035.