Fast Market Research recommends "United Arab Emirates Defence & Security Report Q1 2014" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 12/25/2013 -- We expect the UAE's defence spending to increase to AED152.8bn in 2017. This will take defence spending per capita to AED17,632.
The push to establish itself as a key regional defence hub and the ongoing modernisation of defence equipment, as the country seeks to enhance its technological capabilities, will be major drivers of defence expenditure growth. However, the country's ability to support this growth will be predicated on greater state investment and this will be informed by a robust economic growth outlook over our forecast period; we are forecasting average annual real Gross Domestic Product growth of 3.7% to 2017.
BMI's UAE Defence & Security Report examines the country's strategic position in the Middle East and the wider world. It provides an overview of the contemporary geopolitical challenges facing the country, and the challenges it may face in the future, especially in the context of tensions with Iran and of the Arab Spring.
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In addition, the report examines the trends occurring in the country's current and future defence procurement, and the order of battle across its armed forces. The general conclusion is that the UAE will continue to invest heavily in defence procurement, spending more than all the other countries in the Gulf Cooperation Council with the exception of Saudi Arabia and so giving itself a capability edge over many of its neighbours in spite of the relatively modest size of its armed forces.
Tensions with Iran may ease somewhat following the 2013 Iranian presidential election which has seen the country's new political leader, Hassan Rouhani, strike a more conciliatory tone on the international stage. However, the UAE's close alliances with the US and its fellow GCC members should provide protection to the UAE in the event of a regional conflict with Iran - an outcome that may or may not directly involve the Emirates.
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