Idex 2015: Dh18bn UAE Armed Forces deals for final flourish
The five-day International Defence Exhibition (Idex) in the capital concluded on Thursday, with the UAE Armed Forces announcing 33 deals worth Dh18.3 billion, surpassing the Dh14.1bn of deals in 2013.
The biggest deal on the last day went to Boeing, which won a Dh2.27bn contract for two C-17 aircraft that will boost the UAE Armed Forces’ existing fleet. The UAE Armed Forces entered a deal with Abu Dhabi’s International Golden Group (IGG) to buy various ammunition and defence solutions valued at Dh67 million.
UAE’s Etihad Ship Building also won a Dh19m contract to “raise the capabilities and standards of naval vessels”.
The biggest contract announced at the show went to Airbus Defence and Thales Alenia Space, who were jointly awarded a Dh3.74bn deal to provide two satellites and ground control stations to the UAE Armed Forces.
This year’s edition was marked by a large portion of deals going to UAE-based defence companies as part of plans of the government to create a local industry, diversify income away from oil and create jobs.
The newly-formed Emirates Defence Industries Company, Tawazun and Abu Dhabi Ship Building were among the local winners.
In a sign of the growing importance of the defence industry in the region, this year’s Idex saw more than 100,000 visitors – up from 80,000 in 2013. The number of exhibitors rose to 1,200 international and local companies from as many as 56 countries.
The number of UAE exhibitors stood at 170.
The next Idex will take place in February 2017.
Updated: February 26, 2015 04:00 AM