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Saudi space economy projected to reach 31.6 billion by 2035

Saudi Arabia's space economy reached $8.7 billion in 2024, with a market share of $1.9 billion, and is projected to grow to $31.6 billion by 2035, driven by national investment and infrastructure development. The domestic space market is expected to hit $5.6 billion, aligning with Saudi Vision 2030. Recent initiatives aim to enhance private sector participation through regulatory frameworks and partnerships with international space agencies.
Finance Middle East
United States Dollar World Economic Forum SAU Mohammad Altamimi
Finance & Economy, Market Report
07:32 14.04.2025

Saudi space economy projected to reach 31.6 billion dollars by 2035

The Saudi space economy reached $8.7 billion last year and is projected to grow to $31.6 billion by 2035, driven by a 12% CAGR and significant investments in infrastructure. The report highlights the Kingdom's commitment to becoming a competitive player in the global space market, which is expected to reach $1.8 trillion by the same year. Key areas of development include satellite communications, rocket manufacturing, and Earth monitoring services.
Lucidity Insights
United States Dollar SAU Mohammad Altamimi Show more
Business & Industry, Market Report
03:12 14.04.2025
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