RIYADH: The UAE’s defense and security acquisitions authority inked 11 new deals worth 6.9 billion dirhams ($1.87 billion) on the second day of the Dubai Airshow 2023, underscoring the UAE’s trajectory toward growth.
The agreements, signed with local and global firms, bring the total number of deals sealed by Tawazun Council to 20 with a cumulative value estimated at 11.6 billion dirhams, the spokespersons of the organization Zayed Saeed Al-Meraikhi and Majed Ahmed Al-Jaberi said in a press conference, according to Emirates News Agency, or WAM.
This aligns with the UAE’s goals outlined by the Dubai Civil Aviation Authority to leverage the city as a global travel hub and support international connectivity.
This progress also streamlines the Gulf country’s objective of maintaining the market share of travelers and boosting traffic rights into and out of Dubai.
During the conference, Al-Meraikhi explained that the Tawazun Council signed 8 deals totaling 4.9 billion dirhams in value on behalf of the Ministry of Defense.
The largest contract, amounting to 3.3 billion dirhams, was awarded to aircraft rental service firm Black Diamond to procure an air defense system.
The second largest local contract, worth 738 million dirhams, was signed with Advanced Integrated Systems for the provision of aircraft maintenance services. In comparison, an agreement valued at 588 million dirhams was finalized with Edge’s Earth to purchase ammunition.
In addition, a deal with Emirates Aviation Supply Center will provide technical assistance for systems, radars, control, and communications with a value of 8 million dirhams.
A series of other agreements with both domestic and international companies were signed during the Dubai Airshow 2023.
In its 18th year, the conference will see participation from the air transport sector, national airlines and relevant institutions. The large-scale event is scheduled to take place from Nov. 13-17.
The five-day event will discuss the latest trends, innovations, and solutions in the aviation industry, focusing on air and space mobility, sustainability, and advanced technologies.
More than 1,400 exhibitors from around 95 countries and more than 300 regional and international experts are projected to participate in the event.
