Boeing has forecast that the defence and security industry in the Middle East will be worth $96bn by 2029 and predicted constant growth for its own sales in the region. The company said it would invest more than $1bn (£670m) over five years to expand production capacity at a new plant in Abu Dhabi, which is expected to open next year. The Middle East defence and security services industry is expected to grow to become a $96 billion (Dh354bn) market by 2029, according to US plane maker Boeing, which forecasts continued year-on-year growth in its regional defence business amid ongoing political tensions. Boeing’s Defence, Space and Security division reported a demand for its aircraft, technology and other products including a refuelling tanker and a drone system. Meanwhile the firm has won a $9.2bn contract with the US air force to train pilots on the T-X training aircraft it jointly developed with Saab.
Boeing has forecast that the defence and security industry in the Middle East will be worth $96bn by 2029 and predicted constant growth for its own sales in the region. The company said it would invest more than $1bn (£670m) over five years to expand production capacity at a new plant in Abu Dhabi, which is expected to open next year. Boeing’s Defence, Space and Security division reported a demand for its aircraft, technology and other products including a refuelling tanker and a drone system. Meanwhile the firm has won a $9.2bn contract with the US air force to train pilots on the T-X training aircraft it jointly developed with Saab.