INTERNATIONAL

UAE Signs $5.5b Military Contracts

The United Arab Emirates awarded $5.5 billion of military procurement contracts during a defense show this week.

The majority were awarded to international companies such as U.S. Firms Lockheed Martin and Raytheon, which sealed one of the biggest deals with 7 billion Dirham worth of contracts related to its patriot missile air defense system.

Gulf Arab States including the UAE and Saudi Arabia have long been major buyers of U.S. Weapons but have beefed up military purchases in recent years from other countries. This week, the UAE awarded deals to firms from Russia, turkey, Pakistan and South Africa at the five-day index military exhibition.

Defense industry executives said other countries stand to benefit from increased scrutiny of western arms sales to a Saudi-led coalition involved in the Yemen war.