Muscat: The space economy is on the verge of a remarkable expansion, with experts projecting it will skyrocket to US$1.8 trillion by 2035, up from US$630 billion in 2023. This staggering growth, driven by innovations and the rising involvement of private companies, is transforming industries and reshaping everyday life, often in ways people hardly notice.

On Tuesday, November 12, at 7:30 p.m., the Oman Convention & Exhibition Centre will host “Exploring the Final Frontier: An Entrepreneur’s Guide to the Space Industry,” a Tejarah Talks event that promises a deep dive into the commercial potential of space. Jamal Al Asmi, Executive Producer at RealityCG, will moderate an expert panel featuring Hamed Al Shekaili, Director of Space Program Projects at the Ministry of Transport, Communications & Information Technology (MoTCIT); Said Al Balushi, CEO of Star Drones; and Ammar Al Rawahi, Chief Commercial Officer at SatMENA.

The discussion will highlight the shifting dynamics of space technology, which powers everything from GPS navigation to precision agriculture. Maymuna Al Adawi, Director of Oman Business Forum & P³ at the Ministry of Commerce, Industry & Investment Promotion, emphasized how space has evolved from a government-led domain to a commercial powerhouse, thanks to trailblazers like SpaceX, which slashed launch costs by up to 90% through reusable rockets.

Panelist Hamed Al Shekaili will explain how space innovations are embedded in daily life, offering services like satellite-driven broadband and accurate weather forecasting. Said Al Balushi will delve into the foundational infrastructure of the space economy, detailing how satellites, launch vehicles, and ground systems collectively generate over US$330 billion annually. Additionally, Ammar Al Rawahi will explore applications that leverage space technology for smart agriculture and logistics, which contribute approximately US$300 billion to the global economy.

Beyond commercial gains, the panel will discuss space technology’s critical role in addressing global challenges, from climate monitoring to disaster relief. Satellites now detect methane emissions, track deforestation, and improve agricultural productivity, providing essential tools in the fight against climate change. A recent Tejarah Talks report, “Agrifood: Cultivating Opportunity,” further highlighted how farmers increasingly rely on satellite data for water management and crop optimization.

The event will also tackle the challenges facing the expanding space sector, such as orbital congestion and the threat of satellite collisions. In February 2022, a geomagnetic storm caused the loss of 38 newly launched Starlink satellites, underscoring the need for robust regulations. Panelists will discuss the impact of phenomena like solar storms on satellite operations and explore strategies for ensuring a sustainable future in space.