Future of Space Economy Session Highlights Saudi Arabia’s Leadership Role in Harnessing Space Services and Sustainability for Humanity

The Kingdom of Saudi Arabia, being a key player in harnessing space services and sustainability for humanity, hosted a session on the future of the space economy during the World Radiocommunication Conference (WRC-23).

The session was attended by international leaders in the space economy from both the public and private sectors. The Governor of the Communications, Space & Technology Commission (CST), Dr. Mohammed bin Saud Al-Tamimi, revealed investment opportunities that position Saudi Arabia as a hub for space technologies. The space market in Saudi Arabia exceeded US$400 million in 2022. It is expected to experience rapid growth of 87% in the coming years. Al-Tamimi highlighted Saudi Arabia’s efforts to enhance space sustainability, double the contribution of the space sector to the global economy through partnerships between the public and private sectors, and build capabilities in satellite manufacturing, systems, and infrastructure for space exploration.

Al-Tamimi emphasized developing a national workforce, supporting entrepreneurs, and enabling investment through innovative regulatory environments. Saudi Arabia relies on its developmental programs, such as the Space Entrepreneurship Alliance, the Human Spaceflight Program, and the Space Accelerator Program, to achieve its objectives.