Kingdom targets $31.6B in space sector by 2035
Saudi Arabia expects its space economy to grow to $31.6 billion by 2035, up from $8.7 billion in 2024. This economy encompasses a wide range of activities, from communications, navigation, and remote sensing to data analysis and satellite technology development, with an annual compound growth rate of about 12%. In addition to economic benefits, the sector plays a key role in environmental monitoring and climate change mitigation. It also creates new job opportunities in satellite engineering, software, artificial intelligence, and cybersecurity, thereby supporting economic diversification in line with Saudi Vision 2030 goals.
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