Small Satellite Market Growth in Saudi Arabia
Increasing government support, Vision 2030 space goals, and strategic partnerships with global entities to drive market growth
Support for the small satellite market in Saudi Arabia is developing quickly due to several strategic government initiatives and investments designed to advance Vision 2030's goals for the high-tech sector, including space exploration. These efforts have been mandated by the Saudi Space Commission, whose focus is developing indigenous satellite-manufacturing capabilities, thus establishing Saudi Arabia as the leader in the Middle East in space technology.
Significant investments are channeled to programs in education and scientific research, teaming up with organizations such as the King Abdulaziz City for Science and Technology that evolved and successfully launched satellites. These programs will use satellite data to develop applications that could be used in monitoring the environment, urban planning, etc., thus bringing Saudi Arabia to the frontline as an emerging power in the regional small satellite market that enhances data processing through AI and machine learning technologies.
In 2021, Saudi Arabia launched two satellites, including the first one launched by a local university. Shaheen Sat 17, from King Abdul Aziz City for Science and Technology (KACST), and CubeSat, from King Saud University (KSU), were launched from the Baikonur Cosmodrome in Kazakhstan onboard Russia’s Soyuz-2 carrier rocket. Saudi Arabia also planned to spend USD 2.1 billion on its space program by 2030 under an economic diversification plan to attract foreign investments and create employment opportunities.
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