Despite the challenges during the COVID-19 pandemic, aviation in the UAE has remained resilient and is continuously heading towards growth. The country has been investing in the use of state-of-the-art technologies in its effort to further develop this sector. Check out this article if you’re planning on investing in aviation in Dubai.
1. In the next twenty years, the investments of the UAE in the aviation sector is expected to surpass Dh1 trillion
Airports all over the globe are now focusing on expansion and modernisation introducing new facilities to undergo immense transformation. UAE is one of the leading countries that are now going through unparalleled growth in airport developments and in the aviation industry, as a whole. Currently, advancements being made in UAE airports are at over Dh85 billion already. In the next two decades, the sector’s overall investment is estimated to go beyond Dh1 trillion.
2. Dubai has an aerospace hub which offers great opportunities.
Launched in January, the Mohammed Bin Rashid Aerospace Hub is the fulfilment of Dubai’s vision offering the global aerospace with an integrated ecosystem, high-level connectivity, and a free-zone destination for private jet companies and leading airlines in the world. The hub aims to create a value chain intended for the aerospace sector and increase the contribution and involvement of advanced industries to the country’s economic growth. To date, the government as well as the private sector have already invested AED 17 billion to this endeavour.
According to Dubai Aviation City Corporation (DACC), the UAE’s flagship project is committed to grooming Dubai as the aerospace capital of the region by guaranteeing value and excellence that millions of people will benefit.
3. UAE aviation is in the forefront of adopting ultramodern technologies.
Sita, an information technology provider for the aviation industry has forecasted that the next few years will witness huge transformation as countries embrace futuristic technologies such as flying taxis and ultramodern airports. At Dubai airports, major innovations and transformative technologies are already in place, and even more state-of-the-art modernisations are currently being developed.
One of Dubai’s major events that aims to uplift the global aviation industry is the Global Investment in Aviation Summit (GIAS) which is held annually and is participated by high-level dignitaries, top officials of major aviation companies, investors and delegates from different countries around the world. For more information on GIAS, visit https://www.gias.ae/