Riyadh – Sharikat Mubasher: Saudi Arabia is on track to secure more than 20% of the Middle East and Africa’s civil space services market, according to new projections from Boston Consulting Group. The region’s overall space economy is valued at around $18 billion.

The report highlighted that the Kingdom invested about $220 million in civil space activities last year—representing roughly 20% to 25% of all government space spending in the region—underscoring its growing influence in shaping the regional space landscape.

Saudi Arabia has strengthened ties with the United States through a strategic cooperation agreement on peaceful space exploration, signed in July of last year. It has also deepened partnerships with NASA, Axiom Space, and private-sector players such as Neo Space Group, illustrating the effectiveness of hybrid public–private investment models.

Recent reforms include transforming the Saudi Space Commission into the Saudi Space Agency to focus on market development, research, and innovation. The Public Investment Fund (PIF) has also launched Neo Space Group (NSG) as a national satellite and space services company, with plans for significant future investments.

 Abdullah Al-Swaha, Saudi Minister of Communications, previously described the space economy as a “trillion-dollar opportunity,” signaling the Kingdom’s intent to make space a key pillar of its diversified economy.