Riyadh: Engineer Mohammad Al-Qasim, head of planning at the Saudi Space Agency, has expected that more than 15,000 satellites will be sent into space by 2030.
According to the Saudi news agency, the head of planning in the space agency said that Saudi Arabia will send more satellites into space.
He said that the demand for satellites is constantly increasing. The efforts of the Saudi Space Agency and the Ministry of Investment have succeeded in securing the first foreign investment in the satellite sector.
Chinese company A Space is investing. He said that at present there is a big change in the space sector in the whole world.
The annual growth rate is 5%. The space economy will cross the threshold of trillion riyals by 2040. A-Space, a major Chinese company, has invested 1 billion riyals in the Kingdom for an advanced satellite manufacturing factory. The company will increase the volume of investment in the next phase.