Mubadala, the Abu Dhabi-based investment and development company, said it aims for its defence-related companies to begin exporting products and services to the region within the next three to five years.
Seven defence-related companies under Mubadala participated at Idex yesterday covering the aviation, maritime and technical services.
“Within three to five years, we will become more independent and export to the region. Then we can say that we achieved significant progress and become solid,” Homaid Abdullah Al Shemmari, Mubadala’s executive director of business development at the Aerospace Unit, told Gulf News.
As part of this plan, the Advanced Military Maintenance Repair and Overhaul Company (AMMROC), part of Mubadala’s defence-related network, should begin to earn 45 per cent of its revenue from the Middle East markets after 2015, he said. It currently provides about 90 per cent of its services to the UAE Armed Forces.