Cannot load COM type Outlook.Application

I would like to run this:

$Outlook = New-Object -ComObject Outlook.Application

But I get the following error message:

New-Object : Cannot load COM type Outlook.Application.
At line:1 char:22
+ $Outlook = New-Object <<<< -ComObject Outlook.Application
+ CategoryInfo : InvalidType: (:) [New-Object], PSArgumentException
+ FullyQualifiedErrorId : CannotLoadComObjectType,Microsoft.PowerShell.Commands.NewObjectCommand

Any idea?

Thank you!