NIMR plans to conquer fast-growing markets in South East Asia and eastern Europe | World Defense

NIMR plans to conquer fast-growing markets in South East Asia and eastern Europe

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NIMR plans to conquer fast-growing markets in South East Asia and eastern Europe
Jan 28, 2016

A NIMR special operations vehicle drives in the desert adjacent to its production facility at Tawazun Industrial Park in Al Ajban, located north of Abu Dhabi city. Christopher Pike / The National

Bucking the year’s doom and gloom start amid plummeting oil prices and regional conflict, NIMR, the UAE military vehicle manufacturer, plans to build on its success story with fresh plans this year to conquer fast-growing markets in South East Asia and eastern Europe.

“First we were looking to target the Middle East and North Africa, we have contracts in Algeria, Bahrain and Qatar,” says Fahad Harhara, the chief executive of NIMR Automotive, which has manufacturing facilities in Abu Dhabi.

“In 2016 our prime target is South East Asia. We are targeting Thailand, Malaysia, Philippines, and Indonesia; we are also targeting eastern Europe.”

NIMR is already working in North Africa following a 2012 deal to jointly produce vehicles in Algeria.

Overall, defence spending is forecast to remain fairly resilient amid slowing economic growth in emerging markets and is forecast globally to increase to US$1.68 trillion in 2016 from $1.65tn in 2015, according to IHS Jane.

“Rising tensions in Asia Pacific have seen a long overdue process of military modernisation move up the political agenda in a number of countries,” says Craig Caffrey, a principal analyst at IHS.

“The Philippines, Indonesia, Japan and Vietnam are all following China’s lead and we see no sign of this trend coming to an end.”

Middle East defence spending is expected to be flat at $170 billion over the next two years as eastern Europe overtakes it as the region with the fastest growing defence budgets, with double-digit increases in response to the Ukraine crisis.

After a turbulent five years, defence spending is set to soar in eastern Europe as countries move towards spending 2 per cent of GDP on defence. “Driven by the crisis in the Ukraine and Poland’s modernisation programme, Eastern Europe is now the fastest growing region globally,” says Fenella McGerty, a principal analyst at IHS.
NIMR plans to conquer fast-growing markets in South East Asia and eastern Europe | Defence blog
 
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