UAE leading $18b Middle East space market growth: BCG report

The Middle East and Africa (MEA) space market is valued at $18 billion, according to a new report from Boston Consulting Group (BCG) titled "Governments in Space: A universe of opportunities".

- Staff Reporter, Gulf Today

The UAE, Saudi Arabia, and Qatar represent the core of the region's civil space investments each contributing actively to the GCC's emergence as a hub for space innovation and ambition.

The report highlights the UAE's strategic commitment to space, with a $443 million investment in civil space for 2024. This corresponds to approximately 40-45% of government spending across the MEA region. The UAE is also positioned to capture more than 50% of the region's downstream services market share. Downstream services, which include satellite communications and Earth observation, account for approximately 70% of the global space market.

Saudi Arabia is also making significant strides in its space ambitions, with approximately $220 million invested in civil space activities in 2024. This investment accounts for an estimated 20-25% share of government space spending in the MEA region, reinforcing the Kingdom's growing role in shaping the region's space landscape. It is expected to hold more than 20% of the regional downstream services market.

The UAE holds 40-45% market share of the regional space market.

Qatar, with a comparable $220 million investment, contributes around 5% of the market today and holds just under 5% downstream services market share, strengthening the GCC's collective leadership and offering a strong foundation for future growth.