MUSCAT, JAN 8
The 1st Middle East Space Conference began at the Oman Convention and Exhibition Centre here yesterday, January 8, 2024, under the auspices of His Highness Sayyid Bilarab bin Haitham al Said.
The event, which is co-organised by the Ministry of Transport, Communications and Information Technology and space sector consulting firm Euroconsult, was attended by over 400 participants from the regional and global space sector.
In his opening remarks, Eng Saeed al Maawali, Minister of Transport, Communications and Information Technology, underscored the significance of the global space economy. “Global reports indicate that the global space sector's economy is expected to reach around $546 billion in 2022, with future projections of approximately $800 billion in 2028,” he said.
The Minister emphasised the role the space sector will play in expanding the country’s national economy. “The digital economy has been identified as a crucial component of the national economy, and this is reflected through the National Digital Economy Program, with the space sector being one of its main pillars." “The idea of this conference is to translate the goals of the Omani space policy and executive program, in line with its vision to make Oman a regional gateway for space applications that support economic diversification," he stated.
Presenting a white paper on the Middle East space market, EuroConsult Affiliate Executive Advisor Steve Bochinger shared that the Middle East space market is expected to accelerate over the next years as the region is becoming a global hotspot for space activities. He noted that sector is expected to grow to $57 billion by 2030.
The first day of the conference tackled space policy and industry in the MENA region, and discussed multiple topics including space financing, investment opportunities, and space agency models and strategies among many other topics.
The conference is also accompanied by a parallel exhibition showcasing over 25 local and global space companies.
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