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Since its launch in 2017, the UAE National Space Programme has grown, achieving significant milestones, placing the country as a key player in the changing landscape of the global space economy.
On September 25, Emirati astronaut Hazza Al Mansoori will embark on a mission to the International Space Station, marking the UAE’s burgeoning space sector goals and objectives.
Qualified young Emiratis, such as astronauts Hazza Al Mansoori and Sultan Al Neyadi, play leading roles in the space industry, driving the country’s economic diversification policies supporting UAE Vision 2021 and UAE Centennial 2071.
The UAE Space Agency (UAESA), adopted the ‘National Plan for the Promotion of Space Investment’ in January 2019, with an aim to increase domestic and foreign investment in the UAE space sector and encourage local investment vehicles to consider funding opportunities in the space sector, both domestically and globally.
According to OECD report, ‘The Space Economy in Figures’, interest in the space sector has increased significantly, with satellites in orbit registered with over 80 countries, with public space budgets reaching an estimated $75 billion in 2017.
In July, Morgan Stanley released findings indicating that global space industry could surge to over $1 trillion by 2040, marking a ‘giant leap’ in the new space economy.
Over the past two years, UAE investments in space exceeded AED22 billion. According to the UAE Space Agency, there are over 57 space-related establishments within the country, which have led to the creation of 1,500 jobs.
Examples of these space endeavours include the UAE’s National Space Programme, which will help facilitate the realisation of the first scientific city on the Red Planet as part of the 2117 Mars Programme, as well as sending the Hope Probe to Mars in 2021
The UAE’s investment in its space programme aims to reinforce its position as a global platform for organisations and start-ups involved in the space sciences, research and projects, to harness their efforts to achieve sustainable development and economic growth.