Saudi Arabia’s space economy has reached a valuation of $8.7 billion in 2024 and is anticipated to grow to $31.6 billion by 2035, according to a recent report. This growth is outlined in the Space Market Report 2025 published by the Communications, Space and Technology Commission (CST).

The report indicates that the space market, which focuses on commercial services and infrastructure, was valued at $1.9 billion in 2024 and is expected to reach $5.6 billion by 2035. This increase is driven by greater investment in technologies and infrastructure, with a projected compound annual growth rate (CAGR) of 12 percent for the sector.

CST Governor Mohammad Al-Tamimi stated that the robust support from the Kingdom’s leadership is accelerating investments and infrastructure developments while fostering national talent. He emphasized that these initiatives align with Saudi Vision 2030 and aim to establish a sustainable and competitive space economy at both regional and international levels.

The report serves as a roadmap for understanding the growth trajectory of domestic and global space sectors, enhancing competitiveness, and identifying investment opportunities. It highlights trends such as the rise of Earth observation data analysis, infrastructure services, integrated communications systems, and advanced sensing technologies.

Additionally, the report notes the increased development of small satellites and the private sector’s expanding role in both local and global space markets. Globally, the space economy is projected to grow from $687 billion in 2024 to $1.8 trillion by 2035, reflecting a CAGR of 9 percent. Furthermore, the global space market is expected to increase from $176 billion to $377 billion during the same period, with a CAGR of 7 percent.