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In pictures: Abu Dhabi Crown Prince unveils EDGE the UAE’s largest defence conglomerate
The new holding firm called EDGE will combine 25 government-owned and private firms to create one of the Middle East’s largest defence technology firm.
EDGE, which was launched on Tuesday in Abu Dhabi, will put 25 companies, including businesses that were once under Emirates Defence Industries Co, under its umbrella.
Sheikh Mohamed bin Zayed Al Nahyan launched EDGE advanced defence conglomerate. Seen with EDGE CEO and managing director Faisal Al Bannai (right) and Lockheed Martin’s Middle East head Bob Harward (left).
EDGE was launched by Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. Seen with EDGE CEO and managing director Faisal Al Bannai at the St. Regis Saadiyat Island Resort, Abu Dhabi.
(From R-L): Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior; Faisal Al Bannai, the CEO and Managing Director, EDGE; HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces; Lockheed Martin’s Middle East head Bob Harward; Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority; Sheikh Khalid bin Zayed Al Nahyan, Chairman of the Board of the Zayed Higher Organisation for People of Determination, ZHO and Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council and Chairman of the Executive Committee, stands for national anthem during the EDGE indguration in Abu Dhabi.
(From R-L): Lt. General Sheikh Saif bin Zayed Al Nahyan; Sheikh Mohamed bin Zayed Al Nahyan; Bob Harward and Sheikh Hamed bin Zayed Al Nahyan during the EDGE indguration in Abu Dhabi
Mohamed bin Zayed stands for a photograph with the CEOs of the newly formed EDGE defence giant.
EDGE CEO and managing director Faisal Al Bannai, speaking during the EDGE launch.
EDGE is a new holding company resulting from the consolidation of 25 defence technology firms, including subsidiaries from the Emirates Defence Industries Company (EDIC), Emirates Advanced Investments Group (EAIG), Tawazun Holding, and other independent organisations.
The launch of EDGE comes as it was reported in September that Middle Eastern defence spending will reach $100 billion in 2019, led predominantly by Saudi Arabia and the UAE.
Out of the top 10 defence spending nations per capita, five are in the Middle East as are nine of the top 15 defence budgets per GDP.
