Paramount Group, Africa’s largest privately owned defence and aerospace business will be participating at IDEX 2015, the largest defence exhibition in the Middle East, where it will sign an important contract with a crucial regional power, announce a strategic joint venture with a leading defence technology business and showcase new technologies in the fields of land systems, unmanned aerial systems and aerospace.
Ivor Ichikowitz, Founder and Executive Chairman of Paramount Group, “Africa and the Middle East are facing very similar threats from the likes of ISIS and Boko Haram to Al Shabaab. We understand the challenges that armed forces are facing and are developing the solutions to tackle these threats and modern conflicts. In the face of this growing global terrorism, defence budgets are being carefully scrutinised, making value based solutions increasingly more attractive. Paramount Group grew out of a global demand for customer-focused innovation, with an urgent, can-do mentality; and today governments are looking for this type of expertise and experience. ”
Ichikowitz added, “Growth in the defence budgets of GCC countries has been particularly high over recent years, and now accounts for about 83 per cent of overall military spending in the Middle East. Defence spending across the Mena region last year grew 12.1 per cent to $120.6bn, making it the fastest-growing region in percentage terms in the world. Alongside this we see the Middle East, and especially the UAE, moving away from being simply consumers of defence and aerospace products to manufacturers and leaders of in-country developed and produced technologies. It is here where South Africa and the Middle East can, and is, finding important synergies that will act as a catalyst for innovation and industrialisation. This sets the scene for IDEX this year as the most strategically important tri-service defence exhibition in the world.”
The International Defence Exhibition and Conference, IDEX, is the most strategically important tri-service defence exhibition in the world and the only international defence exhibition and conference in the MENA region demonstrating the latest technology across land, sea and air sectors of defence. It is a unique platform to establish and strengthen relationships with government departments, businesses and armed forces throughout the region. IDEX is taking place from the 22nd to the 26th February at ADNEC, Abu Dhabi. Paramount Group is exhibiting in Hall 12, C-22, directly opposite the South African pavilion.