UAE's EDGE Group secures orders worth $5bln in 2022
Visitors walk past the Edge display during the Dubai Air Show in Dubai, United Arab Emirates, November 14, 2021. Rula Rouhana, Reuters
Reuters Images
30% was in export sales as the company expanded its footprint
Brinda Darasha, ZAWYA
December 6, 2022
MANUFACTURINGUAEGCCDEFENSE
UAE defence technology company EDGE Group contracted orders for a total value of more than 18 billion dirhams ($4.9 billion) in 2022, of which AED 5.5 billion or 30% was in export sales, which grew six times year-on-year.
The company, which was set up in 2021 with the mandate to modernize the UAE’s military industry, has expanded its footprint to markets in the Middle East, Africa, Europe, the Americas, and Asia, Edge said in a statement on Tuesday.
EDGE has a portfolio of over 100 products and solutions.
It has concluded more than 20 major export deals and has signed over 60 strategic partnerships with some of the world’s biggest industry players, including Raytheon, CATIC, Lockheed Martin, Boeing, Leonardo, IAI, ICOMM, Embraer, and SAMI, among others.
(Writing by Brinda Darasha; editing by Seban Scaria)
UAE's EDGE Group secures orders worth $5bln in 2022
30% was in export sales as the company expanded its footprint
SAMI ranked among top 100 defense firms after 2,898% hike in revenue
The state-owned firm’s revenue jumped from roughly $20 million in 2020 to $605 million in 2021 (Shutterstock)
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SAMI ranked among top 100 defense firms after 2,898% hike in revenue
RIYADH: The Saudi Arabian Military Industries has made it to the list of the 100 largest defense companies for the year 2022, according to Defense News rating. SAMI, ranked 98, has seen a massive 2,898 percent jump in revenue in 2021, compared to a year earlier. The state-owned firm’s revenue...
arab.news
Updated 10 August 2022
ARAB NEWS
August 10, 202218:06
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RIYADH: The Saudi Arabian Military Industries has made it to the list of the 100 largest defense companies for the year 2022, according to Defense News rating.
SAMI, ranked 98, has seen a massive 2,898 percent jump in revenue in 2021, compared to a year earlier.
The state-owned firm’s revenue jumped from roughly $20 million in 2020 to $605 million in 2021.
The increase in revenue and the company’s global ranking follow its acquisition of the Advanced Electronics Co. in December 2020.
In line with Vision 2030, the Saudi government has been consolidating companies within SAMI to achieve a 50 percent technology transfer target.
SAMI has also attributed its growth to its weapons and missiles business, its emerging technologies division, in addition to its joint ventures including Saudi Aircraft Accessories and Components Co., Navantia and Thales.
Data for the Top 100 list comes from information solicited from companies, their annual reports, analysts and from research by Defense News.
