Saudi Arabia, UAE bolster defense expenditure to thwart threats

Mar 5, 2022 · RIYADH: In view of growing geopolitical tensions in the region and threats of terrorism, countries in the Gulf Cooperation Council, particularly Saudi Arabia and the UAE, …

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Saudi Arabia’s Military Spending Surges To $75.8bn In ... - Arab News

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1 day ago · RIYADH: Saudi Arabia’s military spending has increased at an annual rate of 4.5 percent since 1960, reaching $75.8 billion in 2024. This accounts for 3.1 percent of global …

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FAQs about Saudi Arabia, UAE bolster defense expenditure to thwart threats Coupon?

How much does the UAE spend on defence in 2024?

Per capita defence expenditures are projected to increase from $2,592 in 2024 to $3,062 in 2028. The UAE’s heightened defence spending is motivated by regional dynamics, including territorial disputes with Iran and the threat posed by Iran-backed Houthi rebels in Yemen. ...

Does Saudi Arabia have a defence market?

GlobalData’s latest report, ‘Saudi Arabia Defence Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2022-27’, reveals that Saudi Arabia’s defence acquisition and R&D spending growth recorded Y-o-Y decline of 2% from $13.1bn in 2021 to $12.8bn in 2022. ...

Why did Saudi Arabia reduce its defence spending in 2022?

Saudi Arabia is heavily reliant on oil revenues and was forced to reduce its defence spending in 2019, 2020, 2021, and again in 2022 due to significant erosion in global oil prices. ...

How big is the UAE defence budget 2024-2029?

According to insights from GlobalData’s “ The UAE Defense Market 2024-2029 ” report, the UAE’s defence budget is projected to reach $30.7bn (Dh112.6bn) by 2029, reflecting a compound annual growth rate (CAGR) of 4.1%. ...

Why is the UAE bolstering its air defence capabilities?

In the domain of air defence, the UAE is bolstering its capabilities to counter ballistic missile threats, particularly from Iran. Acquisitions such as the Patriot air defence missile systems and KM-SAM from South Korea highlight the country’s commitment to safeguarding its airspace against emerging threats. ...

Why is the UAE increasing its defence budget?

In light of the increased tensions in the Middle East, the UAE is increasing its defence budget and investing in modernisation efforts for its Army, Air Force, and Navy to safeguard national security and promote regional stability. Source: Flying Camera/Shutterstock ...