Middle East’s Ascent – A $75 Billion Space Economy Vision

The study reveals that the Middle East’s space economy has experienced a threefold expansion over the past decade, surging from an estimated value of $25 billion to its current stature.

The Middle East’s space sector is poised for a meteoric rise, with projections indicating a potential valuation of $75 billion by 2032, according to a comprehensive study unveiled at the Middle East Space Conference in Muscat, Oman. The research document, titled “Beyond the Stars: Middle East’s Space Ecosystem on the Move,” delineates the exponential growth trajectory of the region’s space industry, including burgeoning investments in satellites, exploration missions, and ancillary services.

The study reveals that the Middle East’s space economy has experienced a threefold expansion over the past decade, surging from an estimated value of $25 billion to its current stature. By the dawn of the next decade, the region is expected to command an 8.5% share of the global space economy, signalling its emergence as a significant player in the international space arena.

At the forefront of this burgeoning industry is the United Arab Emirates (UAE), which has been instrumental in catalyzing the region’s space ambitions. The UAE’s achievements encompass sending two astronauts to the International Space Station, pioneering the development of cutting-edge satellites, and recently announcing its collaboration with NASA to furnish an airlock module for a Moon-orbiting station.

Steve Bochinger of Euroconsult, the orchestrator of the conference, attributes the region’s escalating prominence in the global space sector to a transformative shift in the geopolitical landscape. He observes, “The space domain, once monopolized by a handful of historical spacefaring nations, has evolved into a multipolar environment, with over 80 countries investing significantly in space-related endeavours.” Bochinger contends that the Middle East epitomizes this dynamism, characterized by accelerated governmental strategies and ambitious space programs.

Echoing this sentiment, Mohammed Algassim, sector head of planning and development at the Saudi Space Agency, delineated Saudi Arabia’s strategic objectives in space exploration and science. The kingdom’s foray into space was marked by the historic mission of sending two astronauts – Rayyanah Barnawi and Ali Al Qarni – to the International Space Station, thereby augmenting the Arab representation in Space to a record trio. Algassim elucidated the government’s dual focus on non-commercial activities, such as space debris removal and International Space Station collaborations, which would constitute 70% of the budget, while fostering downstream value-added services through private sector engagement.

Meanwhile, Omani officials unveiled ambitious plans aimed at catapulting the nation into the global space arena. Oman’s initiatives encompass the construction of a state-of-the-art commercial spaceport and a research hub dedicated to simulation missions and experiments. The collaboration with UK Launch Services signifies a pivotal step toward the realization of this vision, as the spaceport in Duqm is poised to accommodate both small and large launch vehicles, facilitating enhanced access to space for Oman and neighbouring countries.

Dr. Ali Al Shidhani, undersecretary of the Ministry of Communications and Information Technology in Oman, emphasized the government’s commitment to nurturing entrepreneurial ventures within the space sector. He revealed plans to inaugurate a space accelerator aimed at fostering start-ups and engendering innovation. Additionally, collaborations with academic institutions are underway to establish space engineering labs, providing students with invaluable experiential learning opportunities and contributing to the development of a skilled workforce adept in space-related disciplines.

The Middle East’s burgeoning space sector is on an upward trajectory, poised to carve a niche for itself in the global space economy. With robust governmental support, strategic collaborations, and a burgeoning ecosystem of innovative enterprises, the region is primed to realize its ambitious space aspirations. As the Middle East continues to ascend in the realm of space exploration and technology, stakeholders anticipate a future defined by groundbreaking achievements, technological innovation and unprecedented growth.