Business / #ForbesBusiness



November 5, 2019,   5:15 PM

Abu Dhabi Merges Over 25 Entities To Create $5B Defense Tech Giant

Jason Lasardo

I along with my team make the rankings and lists at Forbes Middle East, we collect and collate... FULL BIO

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His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, today inaugurated “EDGE”—a new tech giant set to make the UAE a global player in advanced technologies, with a focus on the defense sector.

EDGE will aim to facilitate breakthrough innovations in the high-investment defense sector, with a priority on national security, by consolidating more than 25 entities across five clusters: platforms and systems; missiles and weapons; cyber defense; electronic warfare; and intelligence and mission support.

The combined revenue of the merged companies is valued at more than $5 billion, and they employ over 12,000 people. Some of the notable companies being integrated are: AJ Jasoor; Al-Tariq; Beacon Red; Al Hosns and Knowledge Point.

The company is set to implement advanced technologies such as autonomous capabilities, cyber-physical systems, the Internet of Things, advanced propulsion systems, robotics, and smart materials, with a focus on artificial intelligence across all its products and services.

“The solution to address hybrid warfare, lies at the convergence of innovations from the commercial world and the military industry,” said Faisal Al Bannai, CEO and Managing Director at EDGE. “EDGE is set to bring products to market faster and at more cost-effective price points.”

EDGE will also develop strong partnerships with equipment manufacturers and defense contractors, small and medium enterprises and academia. Accelerating the rate of innovation, it will also be seeking to attract elite industry experts and talent from around the globe, to help with a wide spectrum of modern product development, ranging from ideation to building cross-domain capabilities.

 

 

 



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