Achieve remarkable achievements in record time
UAE space sector.. New opportunities for investment in the future
The space sector is one of the priority sectors in the UAE.
From the source
picture
The UAE has placed investment in advanced science, knowledge, space industries and future sciences that serve national interests, and promote constructive and active participation in the global scientific movement to explore outer space, at the top of its priorities, out of its belief in the importance of this sector in enhancing the country's competitiveness, which is a strategic goal that contributes to accelerating Maximizing the impact of comprehensive digital transformation, and employing space technology to support the country's future economy.
The UAE space sector plays an important role in supporting the future economy based on knowledge and innovation, as it is one of the priority sectors in the UAE, which enhances the competitiveness of the country and the diversification of its economy by adopting advanced technologies that serve various vital sectors, in addition to that it has become an engine for many economic activities, especially those that rely on high technologies.
The UAE realizes the importance of having a strong and sustainable space sector that provides effective and innovative applications and solutions to challenges, which has made it a source of inspiration for new generations and a motivation for them to study science and technology, which contributes to improving and facilitating human life.
The UAE's interest in this promising sector, which has achieved remarkable achievements in a record time, is consistent with the goals of the UAE Centennial 2071, which seeks to be the best country in the world in various fields. This sector also contributes to the UAE's vision and supports the UAE's strategy for the Fourth Industrial Revolution, through Building a competitive national economy based on knowledge, innovation and future technological applications.
The UAE's pioneering and successive projects in the field of space constitute an important incentive to attract local, regional and global investments, specialized in advanced technology and related to space industries, to the UAE.
basic pillar
The UAE, under the leadership of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, and the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, adopts space science as a basic pillar that contributes to the continuation of development and development processes, and creates opportunities A new future to improve life, cross into the future, and keep pace with global developments.
The state seeks to make the space sector one of the tributaries of the national economy through space services and applications provided locally, regionally and globally, and to enhance the benefit of other sectors from the space industry, and vice versa.
It is keen to prepare and qualify young Emirati astronauts who are scientifically outstanding, and empower them in space science in order to contribute to the promotion of development and human development. The state is also keen to develop advanced local capabilities in research, development and manufacturing of space technology, and to build a high national culture and experience in the field of space.
effective participation
The UAE adopts a strategy based on strengthening the national economy by investing in space industries, advanced sciences, knowledge and future sciences, in a way that serves the UAE's national interests, and enhances its active participation in the global scientific movement to explore outer space, explore the prospects for human life in space, and the possibility of building human settlements on other planets. .
It seeks to consolidate its position in this sector regionally and globally, in order to achieve the aspirations of the National Space Program 2117, which seeks to make the UAE among the major countries in the field of space science, in order to provide effective solutions in the fields of navigation, traffic management, shipping operations, natural resource management, Sustainability, control of pollution and climate change, areas of control, relief operations and disaster and crisis management.
According to recent reports, the total value of the global space economy is estimated at about $370 billion in 2021, of which the commercial space market accounts for about 75%, or $278 billion, while government spending is about 16%, at a value of $59 billion, in When other government expenditures accounted for $33 billion, with a total of 9%.
The global space economy is expected to grow by 75% by 2030, reaching $642 billion, which indicates that this sector offers many opportunities for technological expansion and innovation.
Supportive plans
Legislation and strategic plans support the space economy, along with material and financing support, as the UAE Space Agency announced a national plan aimed at increasing the sector’s contribution to diversifying the country’s economy and encouraging foreign investments to enter the UAE space industry, in line with the national space policy that was issued. 2016, which directed the adoption of an approach that attracts and promotes investment in the space industry, encourages and facilitates the work of companies and the private sector in it, in addition to making the country a major regional and global center for space activities and events.
Increasing investments
The UAE seeks to pump more investments in this sector, out of its belief in the importance of enhancing the space industry’s contribution to diversifying the country’s economy, as commercial spending in the sector amounted to 10.9 billion dirhams during the past few years, while the private sector’s contribution reached 50% of the total spending on sector in 2019, which reflects its partnership with the government sector to contribute to the investment and development of this sector.
In order to provide financial resources for the space sector and the governance of its management, the UAE has established a national fund to support the sector with a value of three billion dirhams, which reinforces the state's drive towards finding alternative and innovative solutions for financing projects and developing the sector.
The establishment of the fund, which is under the umbrella of the UAE Space Agency, contributes to enhancing investments by interested entrepreneurs and private companies, and working to finance and facilitate the development of future space activities and projects.
And in order to enhance the vision of the future UAE to be a global incubator for various projects and industries, including those specializing in the space sector, whose tools depend on advanced technologies, the Ministry of Industry and Advanced Technology launched the “300 billion project”, which aims to develop future industries, promote the knowledge economy, and spread applications Fourth Industrial Revolution.
370
One billion dollars, the total value of the global space economy in 2021, of which the commercial space market accounts for about 75%, or a value of $ 278 billion.
Qualifying and empowering national cadres is a priority for the next stage.
Enhancing the country's competitiveness in the space field is a strategic goal to accelerate the impact of comprehensive digital transformation.
Follow our latest local and sports news and the latest political and economic developments via Google news