EDGE Group SIPRI: Within one year of its founding, Abu Dhabi based defence company, the EDGE Group, has entered the list of top 25 defence companies in the world according to a ranking done by the Stockholm International Peace Research Institute (SIPRI), a think tank that specialises in data analysis of military expenditure and arms trade.
It is a big feat for the defence company, as the gulf region is traditionally known for arms importing nations. Saudi Arabia, the world’s largest arms importer for the last several years is located in the gulf region.
EDGE is also the first defence company in the middle east to rank among the top defence companies in the world.
“For the first time a Middle East company has been named among the biggest defence original equipment manufacturers (OEMs) and security exporters,” EDGE Group said in a statement sent to Defence Star.
“EDGE’s presence is a notable ranking for the UAE and the region more broadly,” Abu Dhabi based defence giant said.
According to the SIPRI database, top 25 defence companies accounted for a turnover of $361 billion in terms of sale of weapons and military services, while the EDGE accounted for over $4.69 billion, 1.3% of the total sale of these top companies.
“As EDGE marks its one-year anniversary, we are proud to be the first ever in the Middle East that is ranked among the top 25 largest military companies in the world by SIPRI,” said Faisal Al Bannai, CEO and Managing Director, EDGE.
Faisal Al Bannai said advanced technologies enabled the company to thrive, be bold, agile and disruptive in an era of hybrid warfare.
“As we continue to build the UAE’s sovereign capabilities and develop partnerships for export growth, we remain excited about what the future holds,” he said.
The company said its forward-looking strategy would continue to focus on addressing national security threats that are adapting through new technological means, strengthening current capabilities and research and development, and development of technology for boosting export.
Priority will be on transforming the country’s advanced technology capabilities and making it fit for an evolving digital era, said the company.
UAE based defence group, which was founded in November last year, offers expertise in five areas, namely platforms and systems, missiles and weapons, cyber defence, electronic warfare and intelligence and mission support.