First announced in February, MAESTRAL will focus on the design and manufacture of advanced naval vessels. EDGE holds a majority stake of 51 percent in the venture, which is set to secure prime contracts for non-NATO orders and select strategic orders from NATO member countries. The venture anticipates a robust commercial pipeline with orders valued at approximately €30 billion (US$32 billion).

In a significant development, the UAE Coast Guard has placed an order for ten new 51-meter offshore patrol vessels (OPVs), valued at €400 million (US$433 million). These vessels, based on the Italian Coast Guard’s Saettia-class design, are noted for their modularity, stability in rough seas, low radar signatures, and high operational flexibility.

Turkish shipbuilders suffer from strong Turkish Lira Turkish shipbuilders suffer from strong Turkish Lira

This joint venture marks a significant step in strengthening the UAE’s maritime capabilities and expanding its defense manufacturing sector.

Editor: Kemal Can Kayar