The security market in the Middle East and North Africa (Mena) region is entering a sustained growth process with an increasing need for sophisticated equipment to face international terrorism, to protect national borders and to build disaster resilience, a report by Frost and Sullivan revealed.
“The defence budgets of the Gulf Cooperation Council (GCC) states and Jordan in 2012 was Dh250 billion ($68 billion), while the overall defence spending in the Middle East is slated to cross Dh368 billion ($100 billion) by 2015,” the report showed.
According to the report, Saudi Arabia alone accounts for approximately 60 per cent of total defence spending in the Mena which is Dh357 billion ($97 billion) in 2010-2018 period. The UAE comes in fourth place at the international level with defence spending expected to double from $5.5 billion at present levels to $10 billion in the next 10 years.
Read more: http://gulfnews.com/news/gulf/uae/government/security-market-in-the-mena-skyrocketing-1.1145597
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