First-Ever Directory of Space Sector Companies Launched: Implications for Investment Opportunities in Oman’s Growing Market
MUSCAT, JULY 13 – The Ministry of Transport, Communications and Information Technology has unveiled the inaugural directory of companies in the space sector.
Titled the Private Sector Directory Space Sector 2024, this publication, released by the National Space Programme, provides a thorough listing of private sector entities aimed at promoting local organizations and fostering global collaboration.
In his introductory remarks, Eng. Said bin Hamoud al Maawali, Minister of Transport, Communications and Information Technology, emphasized the importance of this initiative. “The Space Directory serves as an essential resource, cataloguing key entities, initiatives, and capabilities within our space sector. It is intended to be a valuable reference for stakeholders across government, industry, academia, and international partners. Our goal is to facilitate collaboration, enhance knowledge exchange, and inspire a new generation of Omanis to engage with the space sector,” he stated.
The Minister highlighted that the handbook showcases companies operating in various domains within the space industry. “Oman is home to an increasing number of private sector enterprises that are actively contributing to the space sector value chain. We take pride in having businesses that operate satellites, deliver remote sensing data, utilize satellite information to develop local solutions, provide top-tier satellite communications services, and undertake projects aimed at establishing prospective sites for a new commercial spaceport, in addition to developing scientific and economic space zones,” he noted.
Moreover, the Minister pointed out that there remains considerable untapped potential within the space sector. “Numerous opportunities for growth are still present in the Omani space sector. We hope this directory will inform readers about the enterprises operating in the Sultanate and facilitate important connections and partnerships,” he added.
The directory currently profiles 20 companies in Oman, including seven specializing in drone and space services, five focused on space-related services and consultancy, four providing satellite communication, and two operators of satellite and remote sensing, along with two launch companies (a parent and its subsidiary).
The private sector plays a crucial role in the National Space Policy and Executive Programme, which aims to increase the digital economy’s contribution to the local GDP from the current 2% to 5% by 2030 and 10% by 2040, as part of the Oman Vision 2040 National Digital Economy Plan.
Recent data indicates that the space sector contributes 0.05% to the local GDP, with a market valuation of $155 million as of 2021.
Special Analysis by Omanet | Navigate Oman’s Market
The launch of the Private Sector Directory Space Sector 2024 signifies a pivotal shift in Oman’s focus on the space industry, presenting new opportunities for businesses and investors in high-tech sectors. Smart investors should capitalize on the growing number of private sector players and the government’s commitment to enhance the digital economy, potentially increasing its contribution to GDP from 2% to 10% by 2040. However, companies must navigate the untapped potential and risks associated with entering a nascent market, ensuring they foster collaborative partnerships to leverage emerging technologies and solutions.
