Saudi Arabia to lead Middle Eastern nations in development of a sustainable space industry

 

Expectations for investment in the space sector are rising as the Saudi space strategy nears its introduction, with one industry insider speculating that the planned budget may be equal to other space economies.

Riyadh is also anticipated to take the lead in developing a market and regulatory environment with a novel strategy supported by the public sector, which will aid in the development of the regional ecosystem.

The CEO of Serco Middle East, Phil Malem, put the value of the world's space sector at more than $400 billion, with projections for it to reach over a trillion dollars by 2040.

Malem underlined that investments should support the full value chain of the space ecosystem, including launch, domestic satellite production, operations, ground segment, and end data services.

Malem said in an interview with Asharq Al-Awsat that establishing the entire value chain for the space ecosystem will maximize all pertinent business sectors, including space exploration, robotics, space science, Earth observation, Satcom, and space sustainability.

According to Malem, Saudi Arabia's aspirational aspirations for the nation and the region will put it in a position to dominate the Middle East in the field of space sustainability and become a major worldwide actor.

Malem anticipated that both public and private investments will support the development of global alliances in the area and build a local ecosystem. This also applies to the Saudi Space Accelerator Program, which the Saudi Space Commission unveiled in 2023.

The program seeks to streamline knowledge transfer, technology, and training while assisting startups and business owners in producing creative space solutions within the Kingdom.

Malem emphasized the significance of bolstering top operational services training programs for professionals in several places, agencies, and public space organizations, such as engineers, operators, and analysts.

Malem emphasized that this is essential to improving all aspects of the space value chain, from satellite design and spacecraft operations through data processing and administration.