Muscat –The global space economy is skyrocketing, transforming industries and reshaping the world in ways many of us take for granted. Analysts estimate it will soar to $1.8tn by 2035, up from $630bn in 2023, driven by groundbreaking technological advancements and a rapidly evolving commercial landscape.

On Tuesday, November 12 at 7:30pm, Oman Convention & Exhibition Centre will host a Tejarah Talks session titled ‘Exploring the Final Frontier: An Entrepreneur’s Guide to the Space Industry’. Moderated by Jamal al Asmi, Executive Producer, RealityCG the evening’s expert panelists are Hamed al Shekaili, Director, Space Program Projects, Ministry of Transport, Communications & Information Technology (MoTCIT); Said al Balushi, CEO, Star Drones; and Ammar al Rawahi, Chief Commercial Officer, SatMENA.

These industry leaders will share insights into how space technology is quietly powering everyday life and discuss the seismic shifts occurring as private companies revolutionise the field.

According to Maymuna al Adawi, Director, Oman Business Forum & P³, Ministry of Commerce, Industry & Investment Promotion and Tejarah Talks organizer, the space industry has evolved far beyond government-led missions. “Companies like SpaceX have redefined space travel, dramatically cutting launch costs – by up to 90% in some cases – and democratising access to space. SpaceX’s partially reusable Falcon rockets are just one example of the innovations making commercial ventures feasible. Today, satellite-powered services underpin everything from global broadband to precision agriculture, illustrating how indispensable space technology has become.”

MoTCIT Director, Hamed al Shekaili will detail how these advances influence everyday life, from seamless GPS navigation and satellite-driven internet connectivity to hyper-accurate weather forecasting. “Many only notice the significance of these technologies when service interruptions occur,” remarked Adawi.

Said al Balushi will discuss the backbone of the space economy – satellites, launch vehicles and the vast network of ground infrastructure – and explain how these core systems generate more than $330bn in economic value. Meanwhile, Ammar al Rawahi will tackle reach applications which harness space infrastructure to deliver services like logistics optimisation and smart agriculture solutions – applications that add approximately $300bn to the global economy.

The panel will also address the role satellites play in tackling global challenges, from monitoring climate change to supporting disaster relief.

The evening will conclude with an exploration of how the entry of private space companies has created a new commercial space race, spurring innovation at unprecedented speeds. Members of the panel will explain how phenomena like solar storms impact satellite operations and what this means for the future of space ventures.