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Press Dossier    By Date   22/02/2023 IDEX and NAVDEX 2023 sees $3.4bn worth of deals signed

Arab News, Wednesday, Feb 22, 2023 | Sha'ban 02, 1444

IDEX and NAVDEX 2023 sees $3.4bn worth of deals signed

Emirates: Deals worth $2.2 billion were signed on the second day of the the International Defense and Naval Defense exhibitions held in Abu Dhabi – bringing the cumulative value of agreements across the events to $3.4 billion. 

The largest of the 12 contracts signed was worth $1.2 billion by Halcon, a subsidiary of Edge Group, to procure the Desert Sting P5 system, in addition to a $299 million contract by Halcon to procure Hunter systems. 

ADASI, another subsidiary of Edge Group, signed a $362 million deal to procure shadow systems. Trust International Group signed two local deals to procure Minimi machine guns and 7.62mm machine guns worth $48 million and $5.4 million, respectively.

Edge Group is a UAE state-owned conglomeration of 25 companies to provide military weaponry and related technologies.

International contracts announced included two with France’s Thales Six – one worth $86 million to develop and support ground station radio and the other a $43 million agreement to procure Central Monitoring Systems. 

A $15.5 million contract was also inked with the German company Rheinmetall to provide technical support for engagement simulation, and a $2.9 million deal with the US company Harris International was struck to procure telecom systems and intercom units. 

The announcement was made by Tawazun Council, the independent government entity that works closely with the Ministry of Defense, security agencies, and Abu Dhabi Police. 

The IDEX conference, first held in 1993 and now on its 16th edition, is organized by the Abu Dhabi National Exhibitions Company and the Ministry of Defense and will take place from Feb. 20 to 24. 

ADNEC and the Ministry of Defense are also organizing the launch of the 7th edition of the Naval Defense Exhibition which is taking place during the same time frame.

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