Abu Dhabi: Deals worth around Dh7 billion were announced on the second day of International Defence Exhibition (Idex 2017) on Monday, organisers said.
Among the biggest deals announced include a contract with the Russian company, Rosoboronexport, to buy Dh2.6 billion worth of anti-armour missiles for the UAE Armed Forces and a contract with the UAE based company Maximus Air to buy air cargo planes for commercial use for Dh1.8 billion.
Five of the deals announced on Monday are with national companies and the remaining five are with international companies, according to organisers.
The UAE Armed Forces also signed a deal worth Dh865 million with Saab company to buy new airborne G6000 SRSS (Swing Role Surveillance System) aircraft and provide additional supply of spare parts for ground hardware and perishable materials.
International Golden Group (IGG) has signed two separate deals with the UAE Armed Forces. They will supply Dh11 million worth of ammunition for the UAE air forces and in another deal the company will supply about Dh290 million worth of weaponry and technical gear or equipment.
There are also other agreements including a Dh151 million contract with the German company, Rheinmentall Defence Electronics to buy combat simulators, another contract with American company Raytheon for the purchase of missiles worth Dh611 million and a contract valued at about Dh23 million with UAE based company Nimr Automotive, to upgrade and buy its defence 4x4 Nimr tanks.
The UAE Armed Forces also signed a contract with UAE based company, Trust International Group to buy about Dh553 million military grade explosive interactive weapons and another contract worth Dh9 million with American company Cubic Simulation Systems to buy and install simulations for internal training.
“The first two days have led to an increasing number of deals with national and international companies alike.
Idex 2017 offers a platform to engage with stakeholders, foster deals, build partnerships and witness the latest in defence innovation and technology,” said Brigadier-General Rashid Mohammad Al Shamsi, official spokesperson for Idex.
On the first day of Idex2017, twenty one deals worth more than Dh4.416 billion were signed, bringing the cumulative number of deals for the first and second day to thirty one with a net value of more than Dh11.335 billion.
By the end of the event, contracts worth Dh20 billion are expected to be signed.
Gulf countries are spending millions of dollars in buying equipment as security threats grow in the region. According to consultancy, IHS Jane’s Middle East defence budgets will return to growth in 2017 as the region increases its drive to acquire new military capabilities following a dip due to the collapse in oil prices. It expects 2 to 3 per cent growth a year by 2018 in real terms.
A number of international defence companies from across the world are taking part in the five day event that began on Sunday. Sophisticated weapons, armoured vehicles, aircraft and other technologically advanced systems are being displayed at Idex.
More than 1200 defence firms from fifty seven countries are taking part in the five day event.
