According to Boeing, there will be a demand for more than 43,500 new aeroplanes valued at $7.2 trillion by 2040.
The advancement and commercialization of aerospace technology will assist Pakistan in meeting its current economic challenges. In this regard, the National Aerospace Science and Technology Park (NASTP) in Rawalpindi has made the decision to create a world-class environment for enhancing the potential of excellence-driven and innovative minds in the aerospace market.
Such measures are expected to have a significant impact on the national economy. The global aerospace and defence industry is worth $697 billion, with a $298 billion commercial aerospace market. The aerospace and defence market in Pakistan is worth $8.7 billion.
According to Boeing, there will be a demand for more than 43,500 new aeroplanes valued at $7.2 trillion by 2040.
The National Incubator Center for Aerospace Technology (NICAT), located at NASTP Rawalpindi, is Pakistan’s premier aerospace center. The NICAT is supported by Ignite and the Ministry of Information Technology.
It is managed by a three-way collaboration between NetSol, Ignite, and NASTP. According to NICAT Project Director Imran Jattala, “aerospace” refers to both the atmosphere and outer space. He described it as a diverse industry with a wide range of commercial, industrial, and military applications.
He stated that aerospace engineering would benefit Pakistan’s aviation system in the areas of aeronautics and astronautics. He went on to say that the technology would aid in research as well as the design, production, operation, and maintenance of aircraft and spacecraft involving various organizations.
Aerospace technology will assist Pakistan in the manufacture and testing of aircraft and space vehicles. Assembling, servicing, testing, operation, and repair of systems associated with reliable and reusable space launch vehicles and related ground support equipment may be performed by aerospace technicians.
In this regard, NICAT held its first community building and outreach event under the theme “NICAT LiftOff” at NASTP, Rawalpindi.
Aerospace technology can have a positive impact on meeting economic challenges by creating jobs, increasing exports, and attracting foreign investment. The development of new aircraft and spacecraft can also lead to improvements in transportation and communication, which can benefit various industries.