Saudi Space Economy Reaches $8.7 Billion In 2024: CST

Saudi Arabia's Communications, Space, and Technology Commission (CST) announced that the country's space economy reached $8.7 billion last year. The KSA Space Market 2025 report noted that the size of the space market reached $1.9 billion. Meanwhile, Saudi space economy is expected to reach $31.6 billion by 2035.

The Saudi space market is projected to reach $5.6 billion by 2035, while the global space market reached $176 billion in 2024 and is expected to grow to $377 billion by 2035, reported the Saudi Press Agency. CST Governor Dr. Mohammad Altamimi said that the report extends CST’s efforts to enable the space sector as a new economic driver that strengthens Saudi Arabia's global position in technology and innovation. The report also noted global shifts in the sector, including private sector entry, growing demand for satellite-based services, and renewed interest in space exploration.