Saudi Arabia’s space sector is taking off. In 2024 the country’s space economy – covering everything from satellite communications to launch services – reached $8.7 billion.
That surge comes as Saudi leadership makes space and technology a key part of Vision 2030. Strong government support and fresh investments mean the space industry is growing rapidly.
For tech entrepreneurs and investors, this boom signals major opportunities in a field that’s expanding both in the Middle East and worldwide.
The new KSA Space Market 2025 report shows that Saudi’s “space market” (satellite services, ground equipment, etc.) alone was about $1.9 billion in 2024, up sharply from previous years.
Significantly, the report predicts the Saudi space economy could climb to about $31.6 billion by 2035 – a 12% compound annual growth rate (CAGR).
That aligns with global trends: analysts estimate the global space economy will soar to roughly $1.8 trillion by 2035. (By comparison, it was around $630 billion in 2023.)
This growth is backed by Vision 2030’s focus on diversifying the economy. Communications, Space, and Technology Commission (CST) officials note that Saudi leaders are pouring resources into space infrastructure and talent. Governor Mohammad Altamimi highlights how leadership support is accelerating investment and development, in line with Vision 2030 goals.
In other words, the government is treating the space sector as a new economic driver. A related CST statement calls the KSA Space Market report “a crucial resource for decision-makers, investors and entrepreneurs,” outlining future trends and “promising opportunities” in the sector.
In short, Riyadh is creating the policy, funding, and partnerships to help private companies get involved.
From a global perspective, Saudi’s targets are ambitious but in step with big-picture forecasts. The World Economic Forum and McKinsey estimate that space-enabled technologies will help the worldwide space economy reach ~$1.8 trillion by 2035.
Those technologies include satellite communications, navigation (GPS and timing) services, Earth observation (weather forecasting, resource monitoring, etc.), and even rocket and launch innovation.
In fact, WEF notes that space-based communications, navigation and positioning, and Earth observation services will be key growth drivers. Globally, satellite launches are becoming cheaper and more frequent, fueling everything from internet coverage in remote areas to new data services.
As one analysis puts it, recent growth in the space economy is “driven primarily by advances in satellite and rocket technologies”.
All of this means many more satellites, rockets and related services will be in demand – and Saudi Arabia wants a big piece of that growth.
For tech entrepreneurs and investors, the Saudi space push translates into concrete opportunities. Rather than requiring an encyclopedic knowledge of rocket science, the key is often in applied technologies.
Businesses that develop or deploy satellite equipment, data analytics for Earth observation, communications networks, or even space-friendly software could find eager customers and partners.
The same technologies behind GPS navigation and broadband internet are becoming “space-enabled” – think logistics companies using satellite data for supply chains, or farms improving yields with weather data from orbit.
Saudi Arabia’s investment in STEM education, along with special economic zones and space-focused initiatives, means there will be demand for new services and equipment. Startups in fields like satellite manufacturing, launch services, small satellites (CubeSats), and data services will benefit.
Crucially, Saudi Vision 2030 encourages private-sector growth across tech sectors. The government’s space initiatives are not just about state projects – they aim to involve private companies and startups. Dr. Altamimi notes that this sector growth “strengthens the Kingdom’s global position in technology and innovation”.
New collaborations with international firms (for example, recent discussions with SpaceX) and local space tech hubs (like the Saudi Space Agency’s programs) mean local and foreign entrepreneurs can pitch projects or form joint ventures. To succeed, businesses must understand local regulations and incentives – a task where expert guidance pays off.
