Gulf countries are accelerating their investments in space exploration and technology to diversify economies and capitalize on commercial opportunities.
Saudi Arabia and the UAE are leading initiatives in space exploration, with the former transforming its Space Commission into the Saudi Space Agency and the latter successfully sending a probe to Mars.
In June Saudi Arabia’s Council of Ministers approved the transformation of the Saudi Space Commission, which was launched in 2018, into a full government agency known as the Saudi Space Agency , underscoring the Kingdom’s commitment to the space sector and exploration activities. The expansion of space activities is accelerating across the region thanks to advances in the technologies that constitute the Fourth Industrial Revolution – blockchain, artificial intelligence, 3D printing, materials science, nanotechnology and biotechnology – that have decreased satellite launch costs and increased the capabilities of smaller satellites.
On the defence end, Saudi Arabian Military Industries , which was launched in 2017, has accumulated more than $10bn in contracts with foreign companies in a bid to localise over 50% of defence spending by 2030. Last year SAMI announced a joint venture with Boeing to provide maintenance, repair, and overhaul and sustainment services for military rotary platforms operating in the Kingdom.
The UAE has been at the forefront in this regard through its National Space Strategy 2030. Last year the UAE created a $817m fund to support international and Emirati companies co-operating in space sector engineering, sciences and research applications, with a near-term goal of developing and launching a constellation of advanced imaging satellites.
The UAE also continues to pursue space exploration with the aim of scientific advancement. In May it announced plans to send a spacecraft to the solar system’s main asteroid belt by 2028 for a seven-year study of seven main asteroids. The mission will start with a fly-by of Venus, following the UAE successful 2021 mission to Mars.Investing in space is an opportunity to capitalise on what many see as a prime opportunity to commercialise space travel and communications.
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