UAE leads $18b MEA space market

The Middle East space economy is gaining global visibility, with the UAE leading the charge as the region consolidates its ambitions in the fast-expanding space sector.

- Issac John

According to a new report by Boston Consulting Group (BCG), the Middle East and Africa (MEA) space market is valued at $18 billion and is projected to grow at a compound annual rate of 5 per cent through 2033. With the UAE commanding a market share of between 40 and 45 per cent, the nation has enhanced its reputation as the regional hub for space innovation and economic diversification.

The UAE's commitment to space exploration and commercialisation is underscored by its $443 million investment in civil space activities in 2024 — an amount that accounted for almost half of total government spending on space across the MEA region. More strikingly, the UAE is poised to capture more than 50 per cent of the regional downstream services market, covering areas such as satellite communications, navigation, and Earth observation, which together represent about 70 per cent of the global space industry's value.

Saudi Arabia and Qatar are also emerging as important players, investing around $220 million each in 2024. Saudi Arabia, with an estimated 20 to 25 per cent share of regional government spending, is aiming for more than 20 per cent of the downstream services segment, while Qatar contributes about 5 per cent. Collectively, the GCC countries are positioning themselves as leaders in a sector once dominated by established global powers.