As a driving force in space services and sustainability, the Kingdom of Saudi Arabia took center stage during the World Radiocommunication Conference (WRC-23) with a session focused on the future of the space economy.
This influential gathering brought together international leaders from both the public and private sectors, converging to discuss the potential and opportunities within the space industry. Dr. Mohammed bin Saud Al-Tamimi, the Governor of the Communications, Space & Technology Commission (CST), unveiled investment prospects that position Saudi Arabia as a prominent hub for space technologies.
The space market in Saudi Arabia has already surpassed a remarkable milestone, exceeding US$400 million in 2022. Anticipating exponential growth, it is projected to surge by 87% in the upcoming years. Al-Tamimi underscored Saudi Arabia's commitment to enhancing space sustainability and doubling the sector's contribution to the global economy through fruitful collaborations between the public and private sectors.
To achieve these goals, Saudi Arabia is focusing on bolstering capabilities in satellite manufacturing, systems, and infrastructure for space exploration. Al-Tamimi emphasized the importance of developing a skilled national workforce, supporting entrepreneurs, and creating an environment conducive to investment through innovative regulatory frameworks.
To materialize these ambitions, Saudi Arabia has launched impactful developmental programs such as the Space Entrepreneurship Alliance, the Human Spaceflight Program, and the Space Accelerator Program. These initiatives serve as critical pillars in accomplishing the Kingdom's objectives and strengthening its position as a frontrunner in the space industry.
With its unwavering commitment to space technology advancement, sustainability, and fostering a thriving ecosystem, Saudi Arabia is poised to make significant contributions to the global space economy.
