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Yusuf Saba
ABU DHABI, Feb 21 (Reuters) – The United Arab Emirates signed defense deals worth 8.14 billion dirhams ($2.22 billion), most of which were The business was signed with a state-owned company, a defense procurement agency said.
Abu Dhabi defense company EDGE, which had a book value of about $5 billion last year, won its biggest deal, a Dh4.7 billion contract for its subsidiary Halcon, the Tawazun Council said in a statement. Supply of Desert Sting P5 systems. Halcon also signed a Dh1.1 billion deal for its Hunter system.
Tawazun said the UAE had contracts with local companies worth AED7.6 billion, while contracts with international companies totaled just AED543 million. This came despite the presence of a large number of foreign companies at this year’s International Defense Exhibition (IDEX), including major players from the US and Europe.
Another subsidiary of EDGE, ADASI, secured a deal worth AED 1.33 billion for its Shadow system.
“We had $5 billion in bookings last year,” EDGE Chairman Faisal Al Bannai told Reuters, adding that about $1.4 billion was export orders to about nine or 10 countries.
EDGE has customers in Africa, Asia, the Middle East and Europe, he said.
EDGE’s Halcon is now selling a drone called the Reach-S for $1.1 million, “a 70% discount,” Al Bannai said, adding that EDGE hopes to “disrupt” the industry.
The company also sells loitering drones for $29,000, he said, compared with what he said was an industry average of $140,000 to $170,000.
“Because of what’s happening around the world, some of the most in-demand products today are loitering drones … and drones,” Al Bannai said.
Anton Pashynskyi, chief business development officer at Ukrainian state-owned Ukroboronprom, said the UAE and other Gulf states could learn from Ukraine’s experience in dealing with Iran-made drones.
“We’re not just at war with Russian equipment. We’re also at war with Iranian equipment,” he said.
Ukraine has a small presence in the main hall of IDEX, close to other European countries. Although in the naval part of the show, Russia’s influence is much greater.
Pashynskyi said Ukraine is participating in IDEX to seek partners and suppliers to boost its defense industry amid the war with Russia and to keep in touch with existing customers in the UAE and other Gulf states. ($1 = AED 3.6727) (Reporting by Yousef Saba in Abu Dhabi; Editing by Matthew Lewis)
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