New market study, "United Arab Emirates Defence & Security Report Q1 2015", has been published
New Defense market report from Business Monitor International: "United Arab Emirates Defence & Security Report Q1 2015"
[USPRwire, Tue Dec 16 2014] BMI is forecasting the UAE's defence budget to continue increasing in absolute, but not relative terms for the next five years. However, we note that if the current dip in oil prices endures, some potential is there for negative fallout in defence spending. Our view is that the general increase in spending and procurement enables the UAE to adopt a more assertive defence posture in the Middle East and North Africa region.
If the current dip in oil prices endures, there may be negative fallout for defence spending, although it is too soon to determine given that the country boasts substantial reserves. We think that continued decline in oil prices may seem like bad news for the government's strategy to develop the defence industry as a diversification measure away from the hydrocarbons markets. However, we think that volatility in the hydrocarbons market also has the potential to boost spending in the defence sector, particularly if the government has an increased urge to develop alternatives sooner rather than later as a result of the current slump in prices.
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The UAE's recent procurement efforts in the naval field allow it to play a greater role in patrolling and surveillance of the Persian Gulf and potentially in supporting the US Navy's Fifth Fleet forwardly deployed in the area. We note that the option to acquire two additional patrol boats from Fincantieri, in addition to the two already acquired, as well as the Etihad's ongoing negotiations with the company for the acquisition of light to medium submarines is indicative of budding ties between the two companies.
Staying at the international level, in Q314 we saw the UAE undertake a number of international deployments. The first deployment in cooperation with its ally Egypt was airstrikes in Libya against Islamist militants seeking to take control of the capital Tripoli. The second set of deployments was to northern Syrian as part of the international coalition bombing the...
The United Arab Emirates Defence & Security Report features Business Monitor International (BMI)'s independent forecasts for national and international security, the defence industry, military expenditure, employment in arms production, and arms imports and exports, as well as examining industry trends and prospects, national and multinational arms producers and the regulatory environment.
BMI's United Arab Emirates Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Emirati defence and security industry.
* Benchmark BMI's independent defence and security industry forecasts on United Arab Emirates to test other views - a key input for successful budgetary and strategic business planning in the Emirati defence and security market.
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