Abu Dhabi: Defence procurements and security deals will be in the spotlight as the International Defence Exhibition (Idex) kick starts in Abu Dhabi on Sunday.
More than 150 firms from 55 countries will be attending the five day event being held at the Abu Dhabi National Exhibition Centre (Adnec). Firms are likely to clinch a number of new deals.
Growth in the defence budgets of GCC (Gulf Cooperation Council) countries has been particularly high over recent years, and now accounts for about 83 per cent of overall military spending in the Middle East, according to the Paramount Group, a South African aerospace company.
Defence spending across the Mena region last year grew 12.1 per cent to $120.6 billion (Dh442.6 billion), making it the fastest-growing region in percentage terms in the world.
“Alongside this, we see the Middle East, and especially the UAE, moving away from being simply consumers of defence and aerospace products to manufacturers and leaders of in-country developed and produced technologies,” said Ivor Ichikowitz, founder and executive chairman.
Ichikowitz said Africa and the Middle East are facing very similar threats from the likes of Deash and Boko Haram to Al Shabaab.
“We understand the challenges that armed forces are facing and are developing the solutions to tackle these threats and modern conflicts. In the face of this growing global terrorism, defence budgets are being carefully scrutinised, making value based solutions increasingly more attractive.”
A defence expert said the regional tensions draw more action on defence procurement in the Gulf region.
“There are several large deals going on right now between the USA and several Gulf countries over the sale of very high tech systems such as THAAD (Terminal High Altitude Area Defence),” Steve Zaloga from Teal Group said.
New countries
He said Idex has a focus on Gulf issues. “Idex really stands out for its broad international participation. It has become one of the premier international shows,” Zaloga said.
For Idex 2015, there will be more than 133 thousand square meters that contains approximately 42 suites and 1,200 exhibitors from 55 countries on offer. Six new countries are participating including the Republic of Bosnia, Latvia, New Zealand, Slovenia, Azerbaijan and Japan.
For the first time Unmanned Systems Exhibition (Umex) will take place as part of the event. More than thirty firms are participating showcasing the latest technology and the growth strategy in the sector. The exhibition will highlight the latest developments, trends and innovations in the drone industry and will conduct two days of live flying demonstrations.
