Boston, MA -- (SBWIRE) -- 06/02/2014 -- We expect the UAE to spend up to AED90.8bn on defence in 2014. As with previous years since the beginning of this decade, we expect defence spending to continue to rise throughout the remainder of the forecast period until 2018. By 2018, we expect defence spending to reach AED113.3bn.
BMI has given the UAE an overall security risk rating of 82 for Q314. On average, the country has scored an overall security risk rating of 78 for the period December 2007 until Q314. We believe that the UAE has a comparatively low risk of becoming involved in a major interstate conflict, as the discussion below will illustrate. Similarly, it also has a low risk of suffering a major terrorist attack, and we do not consider the country to be at risk of suffering significant criminal activity.
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During Q314, the UAE became embroiled in a diplomatic row involving Qatar. Along with representatives from Saudi Arabia and Bahrain, diplomats from the United Arab Emirates walked out of a Gulf Cooperation Council (GCC) meeting held in March 2014 in Riyadh. The walkout occurred in protest against the support by the government of Qatar given to Islamist political organisations involved in the Arab Spring.
In terms of defence exports, shipbuilding firms in the UAE are taking an increasing outward vision as regarding securing export sales of their wares. The country is emerging not only as a significant player in the repair and overhaul of vessels around the region, but also for the construction of new warships at its two main yards; Abu Dhabi Ship Building (ADSB) and Etihad Ship Building (ESB).
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