The Communications, Space and Technology Commission (CST) publishes the KSA Space Market Investment Opportunities Report, which highlights the Kingdom’s space legacy which started in 1976, and the challenges and opportunities in Space market, which are expected to witness a rapid growth, as the report highlighted the market size of Space sector in the Kingdom which reached $400 Million in 2022. The report aims to showcase the promising opportunities in the Space sector, promote investment and fair competition, support Space investors and entrepreneurs.
The report sheds light on many opportunities for the development of the Saudi Space market, including spacecraft manufacturing, launch services, and the development of ground segments to enhance its infrastructure, placing the Kingdom as a regional Space hub; in addition to satellite communications, and earth observation through building integrated local systems and developing a multi-sensor satellite infrastructure, as well as Space science & exploration, and emerging space.
The report also showcases the growth of the global Space economy with $464 Billion in 2022, which represents a 0.46% of the world’s GPD and grows at a fast rate of over %7 per year. It is expected to reach an all-time high of $738 Billion by 2030, due to the expanding investment in Space sector generating $100 Billion in 2022, which is four times more today compared to the early 2000s.
