Saudi Space Agency Launches Center for Space Futures,  Eyes $2 Trillion Space Economy by 2035

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Saudi Space Agency Launches Center for Space Futures, Eyes $2 Trillion Space Economy by 2035

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Riyadh: The Saudi Space Agency has inaugurated the Center for Space Futures, aiming to lead a mission to the moon and develop a $2 trillion global space economy by 2035. This ambitious initiative was announced by NASA Administrator Bill Nelson during his visit to Riyadh, highlighting the potential for collaboration between space industries and government programs.

Scheduled to start operations in the fall of 2024, the Center for Space Futures is the first establishment within the C4IR network. It will serve as a platform for public-private dialogues on space collaboration, focusing on accelerating space technologies.

Nelson emphasized NASA’s plan to return to the moon, this time in partnership with commercial and international entities, to promote a thriving space economy. Saudi Arabia’s commitment to space exploration was further reinforced through an agreement with the World Economic Forum, facilitating the center’s establishment.

The center aims to drive advancements in space technologies and foster discussions on space collaboration. NASA’s Artemis II lunar mission, slated for September 2025, aims to land astronauts near the moon’s South Pole, marking a significant milestone. Saudi Arabia’s contribution of scientific instruments for the Artemis II mission underscores its role in this collaborative effort.

Nelson also addressed the challenges of space debris, stressing the need for responsible satellite disposal mechanisms. Collaborative efforts between NASA and Saudi Arabia aim to address these challenges and promote sustainable space exploration.

This visit underscores the growing collaboration between the US and Saudi Arabia in civil space endeavors, reflecting the broader strategic partnership between the two nations. The Saudi Space Agency’s initiatives align with the Kingdom’s vision for economic diversification and technological advancement.

With the global space economy poised for significant growth, Saudi Arabia’s strategic investments in the space industry position it as a key player in shaping the future of space exploration and innovation. Enhanced collaboration between public and private sectors will be crucial in unlocking the full potential of the space economy in the coming years.