The value of the UAE’s trade in aircraft and spaceships amounted to AED28.2 billion (US$7.7 billion) in 2019, reflecting its leading position in these sectors in the Gulf Cooperation Council, GCC, and the Middle East, according to the Federal Competitiveness and Statistics Authority, Emirates news agency WAM reported.
The aviation sector supports the Emirati economy and its GDP contribution is expected to increase by 15% in 2021, according to several studies performed by relevant economic authorities, most notably the Ministry of Economy.
The space sector has become a strategic sector in the UAE, especially in terms of planetary exploration and the development of telecommunication technologies and satellites.
The UAE is set to launch the first Arab probe to Mars in mid-July 2020, and currently has the largest active space sector in the GCC and the Middle East.
Emirati investment in this sector exceeded AED22 billion (US$6 billion), which includes investment in satellites by Yahsat, Thuraya and DubaiSat.
The Authority’s figures show that imports in this type of trade accounted for some AED17 billion (US$4.6 billion) in 2019.
The re-exportation of aircraft and spaceships amounted to AED10.78 billion (US$2.9 billion) while exports amounted to AED455 million (US$ 123.9 million).