Boston, MA -- (SBWIRE) -- 02/14/2014 -- BMI expects the UAE to set its defence budget at US$103.8bn for 2014, and to increase this further to US $158.1bn by 2018. These levels of spending have given the UAE one of the largest defence budgets in the world. The country is spending lavishly on defence to update equipment considered obsolete, and also to address security threats which exist in its locale.
At the strategic level, in mid-January 2013, the UAE and Iran announced that they had reached an agreement regarding the sovereignty of disputed islands in the Strait of Hormuz. This will see two of the three islands, Greater and Lesser Tunbs, being governed under UAE sovereignty (they are currently ruled by Iran), with the status of the third island, Abu Musa, still being negotiated.
As regards the country's defence industry, in November 2013, in conjunction with Raytheon, the country's Tawazun Precision Industries announced that it would shift production of its Talon laser-guided air-toground rocket kit which fits to existing Hydra 70mm rockets, to the UAE following the conclusion of an agreement with Tawazun signed at the Dubai air show. Meanwhile, during the same month the UAE revealed that it would make additional purchases of Nimr six-wheel drive armoured personnel carriers, and four-wheel drive multi-purpose vehicles, which could see a further 1,000 examples being delivered in addition to the 800 vehicles already ordered.
View Full Report Details and Table of Contents
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Defense research reports at Fast Market Research
You may also be interested in these related reports:
- Saudi Arabia Defence & Security Report Q2 2014
- United Kingdom Defence & Security Report Q1 2014
- United States Defence & Security Report Q1 2014
- Taiwan Defence & Security Report Q1 2014
- Iran Defence & Security Report Q2 2014
- The Future of the Savory and Deli Foods Market in the United Arab Emirates to 2017
- United Arab Emirates Information Technology Report Q1 2014
- United Arab Emirates Anesthesia and Respiratory Devices Investment Opportunities, Analysis and Forecasts to 2018
- United Arab Emirates Diagnostic Imaging Investment Opportunities, Analysis and Forecasts to 2018
- United Arab Emirates Dental Devices Investment Opportunities, Analysis and Forecasts to 2018