Saudi Arabia is making bold strides into the space sector, aiming to position itself as a global space leader through strategic investments and innovation. Under the banner of Vision 2030, the Kingdom has identified space as a strategic priority, signaling its commitment to diversify its economy away from oil dependence and toward high-tech sectors, including satellite communications, Earth observation, and in-flight connectivity.
At the heart of this transformation is Neo Space Group (NSG), a rapidly growing entity backed by the Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund managing over $925 billion in assets. NSG has emerged as the Kingdom’s spearhead in the commercial space race, bridging national ambition with cutting-edge technologies and global partnerships.
In just 18 months since its formation, NSG has expanded to nearly 800 employees, largely through a series of savvy acquisitions. The company acquired UP42, a German geospatial data platform originally developed by Airbus, and more recently, Display Interactive, a French provider of in-flight entertainment and connectivity solutions.
These acquisitions are more than just business expansions—they’re critical components of NSG’s strategy to build capabilities across the space value chain, especially in “downstream” services that interface directly with end users. This approach allows NSG to understand customer needs in real-time, improve services on the ground, and guide investments in infrastructure more effectively.
NSG’s broader mission aligns with Saudi Arabia’s goal of developing sovereign capabilities in space. As NSG CEO Martijn Blanken explains, the company is currently evaluating how to best allocate capital to space assets, a decision that hinges on clearly defined sovereign demand.
“We’re in the process of determining exactly how much demand there is, by when, and how we are best going to meet that demand in the years to come,” says Blanken.
NSG is considering multiple paths—from owning and operating its own satellites to public-private partnerships, or operating assets on behalf of the government. What matters most, according to Blanken, is flexibility and clarity of purpose, with the Saudi government playing a key role in shaping investment decisions.
One of NSG’s defining features is its multi-orbit, software-defined approach to space services. A prime example is the Skywaves platform, a software-defined traffic management system that dynamically routes data between different satellite networks and orbital layers to optimize performance and cost.
This multi-orbit neutrality is especially important in global markets where political or regulatory barriers affect satellite operators. For instance, U.S.-based LEO (low Earth orbit) providers may not have landing rights in countries like China. NSG’s flexibility to operate across orbits helps avoid such restrictions, enhancing global service reliability.
The Skywaves platform is already reshaping the aviation connectivity landscape, allowing airlines to tailor passenger experiences—offering perks like remembering unfinished content, recognizing frequent flyers, and even integrating with onboard commerce systems.
Another pillar of NSG’s business is geospatial intelligence, fueled by its acquisition of UP42. Blanken describes Earth observation as a highly fragmented market, where customers often struggle to identify and access the right types of imagery – optical, hyperspectral, or radar.
NSG aims to simplify this process by building a consolidated marketplace of imagery providers, enabling easier access and broader adoption of satellite data across industries like forestry, agriculture, and urban planning. By democratizing access to space-derived intelligence, NSG hopes to drive usage and innovation across public and private sectors.
NSG’s roadmap also includes assessing potential in areas like the Internet of Things (IoT) and direct-to-device (D2D)communications. However, these are not immediate priorities. According to Blanken, IoT could be integrated as a secondary payload on future satellites rather than built as a standalone constellation.
As for D2D, the company remains cautious. The cost economics and consumer demand for coverage outside of traditional cellular networks remain uncertain. Yet for sovereign and defense applications, D2D could prove to be a critical capability – especially where regulatory control over spectrum enables more secure and efficient operations.
With geopolitical tensions rising globally, Saudi Arabia is not alone in seeking greater control over its space infrastructure. Space is increasingly viewed as a core domain of national security and intelligence – alongside land, air, sea, and cyberspace.
NSG’s role is to serve as a national space champion, fulfilling a significant portion of Saudi Arabia’s strategic demand in the next five years. This includes developing and operating domestic space assets, while also commercializing any excess capacity to generate returns and attract global partners.
“If we don’t have further clarity on capital allocation within 12 months, I’d be a little bit disappointed,” Blanken notes, underscoring the urgency of defining the next steps.
Blanken emphasizes that building a space economy isn’t just about satellites and spectrum – it’s also about people, leadership, and culture. As the Kingdom transitions from a government-run to a market-driven economy, there is a significant focus on talent development and institutional capacity-building.
Compared to Western nations that have had centuries to evolve market structures, Saudi Arabia is moving quickly – but carefully. The challenge is steep, but so is the commitment.
Neo Space Group is not just building a company – it’s laying the foundation for Saudi Arabia’s future in space. With strong backing, strategic clarity, and a rapidly evolving portfolio, NSG represents a bold bet on sovereignty, innovation, and economic transformation.
As Vision 2030 unfolds, space is no longer a distant ambition – it’s a fast-approaching reality, with Saudi Arabia poised to become not just a participant, but a key player in the global space economy.
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