Saudi Arabia’s space economy is experiencing rapid growth, reaching $8.7 billion in 2024 and projected to soar to $31.6 billion by 2035, according to the newly released Space Market Report 2025 by the Kingdom’s Communications, Space, and Technology Commission (CST).

The report highlights a strong compound annual growth rate (CAGR) of 12%, covering a wide spectrum of industries linked to space-based technologies and services.

Commercial services and infrastructure play a pivotal role in this expansion, with the space market in this sector alone valued at $1.9 billion in 2024. This figure is expected to grow to $5.6 billion by 2035, fueled by rising investments in advanced technologies and physical infrastructure.

The study forms part of CST’s broader efforts to chart the growth of both the domestic and global space sectors, with a focus on enhancing competitiveness, fostering market development, and uncovering future investment opportunities.

CST Governor Dr. Mohammad Al-Tamimi emphasized the vital role of national leadership in driving space-related investments and talent development. He highlighted that these efforts align with Saudi Vision 2030, which aims to establish a globally competitive and sustainable space economy.

Dr. Al-Tamimi described the report as a crucial resource for policymakers, investors, and entrepreneurs seeking to capitalize on emerging opportunities in the space sector.

The report highlights several key trends reshaping the space industry, including the growing use of Earth observation data analytics, the integration of communication systems, the expansion of infrastructure services, and the development of advanced sensing technologies. Additionally, it highlights the rising prominence of small satellites and the increasing involvement of the private sector in both local and global markets.

On a global scale, the space economy is projected to grow from $687 billion in 2024 to $1.8 trillion by 2035, with a compound annual growth rate (CAGR) of 9%. Similarly, the global space market is expected to expand from $176 billion to $377 billion during the same period, reflecting a CAGR of 7%.