According to the Federal Competitiveness and Statistics Authority, UAE’s trade value for aircraft and spaceships amounted to $7.6 billion in 2019, exhibiting its preeminent position in these sectors in the Gulf Cooperation Council, GCC, and the Middle East.
Several studies conducted by relevant economic authorities, most notably the Ministry of Economy suggest that the aviation sector backs the Emirati economy and its GDP contribution is anticipated to grow by 15 percent in 2021.
The space sector has become an important sector in the UAE, especially in terms of planetary exploration and the development of telecommunication technologies and satellites.
The UAE is preparing 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.
With investments in satellites by Yahsat, Thuraya and DubaiSat, the Emirati investment in this sector has exceeded $6 billion. The Authority’s figures show that imports in this type of trade contributed to some $4.63 billion in 2019.
While exports amounted to $124 million, the re-exportation of aircraft and spaceships amounted to $2.93 billion.