Abu Dhabi is determined to succeed in aerospace, but not at all costs. Mubadala, the emirate’s $45 billion sovereign wealth fund, set up an aerospace division in 2006. The plan is for it to break even by 2013, but some latitude is possible on this goal, if the group secures the right partnership opportunities to support its plan to spend around $1 billion building another new facility here in the United Arab Emirates.
United Arab Emirates
The business aviation market in the Middle East is now at a crucial stage in its development and is poised to reach an annual value of $1 billion by 2018, according to Ali Al Naqbi, founding chairman of the Middle East Business Aviation Association (MEBAA).
This stunning image of the world’s tallest building–Dubai’s Burj Khalifa skyscraper–is the result of a new business alliance between Space Imaging Middle East (SIME) and Google under which SIME has become the first authorized reseller for Google Enterprise GEO in the Middle East.
Show organizer F&E Aerospace has designated Thursday as the Dubai AIr Show’s inaugural Futures Day, which will be dedicated to inspiring the UAE’s young people to build careers in the industry. The day will focus on the recruitment, education, and training of home-grown talent.
Fast-growing Dubai-based business aircraft management group Empire Aviation is about to conclude a major joint-venture agreement, which executive director Steve Hartley said will “double the size of the company.” It remains to be seen whether the deal will be sealed here at the Dubai Air Show this week.
The United Arab Emirates (UAE) celebrates its 40th anniversary next month on December 2, and aviation has always been at the forefront of the young country’s ambitious development plans.
The 2011 Dubai Air Show, which opens on Sunday, is set to trump the 2009 event, with anticipated visitor numbers for the trade-only event expected to be 4 percent higher at just over 55,000.
Organizers expect the 2011 Dubai Air Show to trump the 2009 event in terms of visitors by 4 percent, at just over 55,000. More than 1,000 exhibitors from 50 countries have booked space for the November 13 to 17 show at Dubai Airport Expo, including first-time participants from Ethiopia, as well as companies from Australia and Japan after a break of several years.
Al Bateen Executive Airport, the Gulf Region’s only dedicated business aviation airport, saw 1,903 movements in the third quarter, a 12-percent increase from the same period a year ago. The fastest growing traffic segment in the quarter at Al Bateen was visiting aircraft operations, which soared by 42 percent, to 202 movements. It expects strong growth in traffic later this month, when the Abu Dhabi Formula One events will take place.
As the next biennial Dubai Air Show approaches, all eyes are on the Middle East, but not entirely for the usual reasons. Even after being dented by the financial crisis of 2008-2009, the region still holds huge potential for the air transport and aerospace industries.