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Emerging $634b space economy is key focus at Dubai Airshow

The space sector continues to be a vital industry for the UAE

Published: Thu 20 Jul 2023, 6:24 PM

By
Issac John

The 18th edition of Dubai Airshow 2023, which will take place from 13-17 November, will see an increased focus on space technologies with the emerging space economy on a trajectory to grow beyond $634 billion by 2026.

With the support of the UAE Space Agency, the airshow will be offering a platform for companies and investors who are keen to see and learn about the latest space technologies from industry trailblazers at the biggest Space pavilion to date, organisers of the event said.

With space now expected to be a key component for the future growth of individual countries and the aerospace industry as a whole, it will be a key theme at this year’s Dubai Airshow. Following the signing of a Memorandum of Understanding (MoU) between Dubai Airshow and the UAE Space Agency at the 2021 Airshow, the two parties are collaborating to further enhance the event’s focus on space, strengthening this year’s offering

“The UAE has made great strides in building national capabilities in earth observation, training astronauts, sending missions to the moon and soon to the asteroid belt. The most critical component in the next five to ten years will be to build major capabilities in the private sector. We’re looking to facilitate enormous opportunities for startups to be established in the UAE, and there’s no better platform to do this than at the Dubai Airshow. In its 18th cycle lifespan, the show has generated upward of Dh3.0 trillion dirhams in business,” Ibrahim Al Qasim, deputy director general of the UAE Space Agency, said.

The space sector continues to be a vital industry for the UAE and is already inspiring future generations of astronauts and space scientists. The global space tourism market is growing at pace and is likely to reach $12.69 billion by 2031.

Historic achievements this year include Sultan AlNeyadi becoming the first Arab to walk in space, as well as the Arab world’s first interplanetary mission. The UAE also recently announced the Emirates Mission to the Asteroid Belt, a groundbreaking 13-year project, featuring six years of spacecraft development and seven years of exploration, which promises to provide a significant boost to Emirati space startups and train Emirati talent.

“With a complete section dedicated to space at the upcoming edition, we hope to add value through our participation in conferences that discuss the correlation between aerospace and climate change, mitigating the use of fossil fuels, capital, and infrastructure development in aerospace and space, and pushing the boundaries of this thriving sector,” Dr. Gustavo Dos Santos, chief researcher, Propulsion and Space Research Center at the Technology Innovation Institute, said.

The show will also offer a host of networking opportunities through its exclusive ministerial and space delegation programmes, connecting industry players with government officials, academia, and decision-makers. It will also provide students, graduates, and young professionals with the opportunity to meet prospective employers and take part in activities through its youth engagement programme. From a New Space start-up competition to Space and Moonwalker meet and greet, aspiring astronauts and space scientists will have plenty of opportunities to learn about the possibilities to forge a career in space, organisers said