Abu Dhabi's Edge Group and Italy's Leonardo have established a joint venture expected to attract about €4 billion ($4.64 billion) worth of defence systems orders, as Edge expands its collaborations in Europe.
The partnership will focus on airborne radars for the most advanced stealth platforms, as well as being a commercial platform to market and sell the transonic M-346 fighter and trainer aircraft – co-developed by Leonardo – in the continent and overseas markets, the companies said in a joint statement on Wednesday.
The joint venture is a follow-up to Edge and Leonardo's strategic agreement forged at last year's International Defence Exhibition and Conference in Abu Dhabi. The latest collaboration "has the depth to build some of the most advanced sensor and systems technology in the world, with a projected pipeline beyond €4 billion in orders over the next five years", said Hamad Al Marar, managing director and chief executive of Edge.
The UAE continues to boost its defence industry, seeking more partnerships to tap into the latest technology. Edge, formed in 2019 to consolidate the Emirates’ defence assets, is leading the charge, enhancing collaboration with defence groups around the world.
It has expanded its global footprint through agreements in Europe, Asia and Latin America. Deals have involved precision weapons, naval platforms and electronic warfare systems.
To further expand its relationships in the continent, Edge last week announced the opening of Edge Europe, a subsidiary in France that will serve as its base for expanding investments and co-operation in the region.
The expansion in Europe, in particular, reflects Edge's broader strategy to deepen ties with international defence companies while strengthening the UAE's domestic industrial base and expanding exports of advanced technology.
"Industrial collaboration and joint ventures are a model we are increasingly embracing and we are confident that, together with Edge, we will establish a winning benchmark," said Lorenzo Mariani, chief executive and general manager of Rome-based Leonardo.
On Monday, Edge and France's Safran Electronics and Defence signed a strategic agreement to explore the development, production and commercialisation of advanced air-to-ground weapons systems. In February, Edge signed an agreement with Spain’s EM&E Group for the establishment of a joint venture in the UAE focused on advanced defence technology.
Edge defence systems were also responsible for eliminating more than 85 per cent of the Iranian drones launched towards the UAE during the Iran war.
