His Highness Sheikh Hamdan bin Mohammed Al Maktoum, the Crown Prince of Dubai and Chairman of the Supreme Space Council, has recently announced a bold roadmap: the UAE is targeting a rank among the world’s top 10 space economies by 2031.
A Strategic Shift for the National Space Sector
During the second Supreme Space Council meeting, Sheikh Hamdan introduced a new strategic course for the UAE’s space sector. At the core of his vision are three key objectives:
- To establish the UAE as a dynamic and investment-friendly space ecosystem.
- Becoming a global hub for space partnerships and market access.
- Building world-class space infrastructure and facilities to support the growing industry.
- Ambitious Economic Targets
Under this plan, as stated by Sheikh Hamdan, the UAE aims to:
- Increase the added value of its space economy by 60%.
- Double investments in the national space infrastructure and related facilities.
- Double revenues from the space sector.
These goals are part of a larger push to scale up the UAE’s space industry, reinforcing its reputation as a global leader in innovation.
Building a Stronger Space Ecosystem
In order to achieve these targets, the council launched the National Space Industries Programme.
This initiative is purposed to:
- Encourage more national and international companies into the sector.
- Facilitate access to both local and global space markets.
This would involve encouraging knowledge-sharing and technology transfer, maximising the potential for innovation across the UAE.
Importantly, the latest Space Economic Survey showed that the total public and private spending on space has increased by 49% in the last five years.
The size of investments in research and development has increased almost ninefold since 2019, underlining the commitment of the UAE to future tech.
Driving the UAE’s Long-Term Growth
Sheikh Hamdan emphasised that space is not just about exploration; rather, it’s a strategic economic engine. By building a strong space ecosystem, the UAE wants to diversify its economy, boost technological development, and endorse the sectors of the future. Along with the bold investments and policies, the UAE is definitely positioning itself as a global powerhouse in the space economy, ready to successfully compete at the highest level in 2031.
