The development and commercialisation of aerospace technology will help Pakistan to meet the prevailing economic challenges, WealthPK reports. In this regard, the National Aerospace Science and Technology Park (NASTP) Rawalpindi has decided to create a world-class environment for bolstering the potential of excellence-driven and innovative minds in the aerospace market. Such steps are expected to play an important role in strengthening the national economy. The size of the global aerospace and defence industry is $697 billion, with a commercial aerospace market of $298 billion. Pakistan’s aerospace and defence market size is $8.7 billion. According to Boeing, an aircraft company, there will be a demand for more than 43,500 new airplanes worth $7.2 trillion by 2040. The National Incubator Centre for Aerospace Technology (NICAT) is Pakistan’s premier aerospace center located at NASTP Rawalpindi. The NICAT is funded by Ignite and the Ministry of IT. It is run under a tripartite partnership among NetSol, Ignite and NASTP. NICAT Project Director Imran Jattala told WealthPK that aerospace collectively refers to the atmosphere and outer space. He said that it is a diverse industry with a multitude of commercial, industrial and armed applications. He said that aerospace engineering would help with Pakistan’s aviation system in aeronautics and astronautics areas. He added that the technology would help in the research besides the design, production, operation and maintenance of aircraft and spacecraft involving different organisations. Aerospace technology will help Pakistan to manufacture and test aircraft and space vehicles. The aerospace technicians may be involved in the assembling, service, testing, operation and repair of systems associated with dependable and reusable space launch vehicles and related ground support equipment. In this regard, NICAT hosted its first community building and outreach event at NASTP, Rawalpindi with the theme of ‘NICAT LiftOff’.