Saudi Arabia's Vision 2030 strategy prioritizes space as a key driver of economic diversification. Neo Space Group (NSG), supported by the Public Investment Fund, is at the forefront of this effort, aiming to serve both defense and commercial customers globally.
In an interview with SpaceNews, NSG CEO Martijn Blanken discussed the company's strategic direction. He highlighted the importance of "sovereign demand" in Saudi Arabia's space investments and the company's careful evaluation of whether to allocate capital to space assets. "They’re progressing, but it’s intrinsically linked to sovereign demand in the Kingdom of Saudi Arabia," Blanken explained. "We’re hoping that in the next 12 months we’ll come to a conclusion, and then we can start to make informed decisions."
Blanken detailed NSG's flexible approach to acquiring or building space infrastructure, stating, "How we go about meeting that demand is almost a third-order question. On one end of the spectrum, the government of the Kingdom could procure and own the asset, and we operate it on their behalf, with permission to commercialize excess capacity. On the other end, we could make the investment and own and operate the asset ourselves under an off-take agreement." He emphasized the company's focus on understanding customer needs through downstream activities, citing the recent acquisition of Display Interactive as a prime example.
The discussion also covered NSG's multi-orbit strategy and its role in consolidating the fragmented Earth observation market. Blanken underscored the importance of multi-orbit neutrality, stating, "The differentiator is providing the best possible passenger experience, but multi-orbit capability is key to that. You need alternatives where some low Earth orbit (LEO) providers don’t have landing rights." He further explained that consolidating the Earth observation market would make it easier for end-users to access the necessary data and imagery.
Blanken addressed various other opportunities, including IoT and direct-to-device (D2D) technologies, stating, "IoT is under consideration, though I don’t see it as a standalone constellation. Over time, it will likely be a payload on a spacecraft carrying other missions." Regarding D2D, he expressed skepticism about its market size and consumer willingness to pay, particularly in comparison to the cost of terrestrial networks.
Blanken concluded by highlighting the importance of talent development and the rapid transition of Saudi Arabia's economy from a government-run model to a market-based one. He noted the substantial investment required to achieve sovereignty in space, stating, "If in the next 12 months, we don’t have any further clarity on how exactly we’re going to get be allocated capital, I’d be a little bit disappointed — let’s put it like that. And…we’re talking about material amounts of money."