EDGE
9.12.2020 14:37:08 CET | Business Wire | Press release
Marking its first year, EDGE, the UAE’s advanced technology group for defence and beyond, was ranked among the top 25 military suppliers in the world by the Stockholm International Peace Research Institute (SIPRI), a think tank that specialises in data analysis of military expenditure and arms trade among other peace and security related matters.
With this being the first time that a Middle East company has been named among the biggest defence original equipment manufacturers (OEMs) and security exporters, EDGE’s presence is a notable ranking for the UAE and the region more broadly. Others on the ranking included Lockheed Martin, the Aviation Industry Corp of China (AVIC), BAE Systems, Thales, Almaz-Antey, and Rolls Royce.
SIPRI reported that the sales of arms and military services by the largest 25 companies totalled US$361 billion in 2019, with EDGE accounting for 1.3 per cent of this total arms sales.
Commenting on the new data released, H.E. Faisal Al Bannai, CEO and Managing Director, EDGE said: “As EDGE marks its one-year anniversary, we are proud to be the first ever in the Middle East that is ranked among the top 25 largest military companies in the world by SIPRI.”
He added: “Advanced technologies have enabled us to thrive, be bold, agile and disruptive in an era of hybrid warfare. As we continue to build the UAE’s sovereign capabilities and develop partnerships for export growth, we remain excited about what the future holds.”
With a priority on transforming the country’s advanced technology capabilities and making it fit for an evolving digital era, EDGE’s forward-looking strategy will continue to focus on addressing national security threats that are adapting through new technological means, strengthening current capabilities and industry R&D, and developing technology for export growth.
EDGE offers expertise in five core clusters: Platforms & Systems, Missiles & Weapons, Cyber Defence, Electronic Warfare & Intelligence and Mission Support, and was established on the 5th of November 2019.
*Source: AETOSWire
View source version on businesswire.com: https://www.businesswire.com/news/home/20201209005568/en/
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