Arab states' naval market grows 65%
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Arab states' naval market grows 65%

Arab states' naval market grows 65%

The naval market in the Mena region grew 65% between 2000 and 2008 from $14bn to $23bn amid economic growth, increasing sea-borne trade and transnational threats and security concerns, according to Bob Nugent, a consultant at AMI International, speaking at the first-ever maritime defence exhibition being held in Qatar. The trend is expected to continue between 2008 and 2027, with the region forecast to acquire more than $14bn in frigates, destroyers, cruisers, aircraft carriers and submarines during the period, reported Gulf News.

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