H.E. Faisal Al Bannai with CNN’s Becky Anderson: EDGE’s Expanding Role and Growth Strategy

THROUGHOUT THIS HOUR WE'VE BEEN TALKING ABOUT THE TOUGH TALK COMING OUT OF BEIJING AND THE IMPACT THAT MIGHT HAVE ON GEOPOLITICS IN THE COMING MONTHS AND YEARS.

IN THIS REGION, I AM HERE, OF COURSE, IN THE GULF OF THE MIDDLE EAST.

THE RELATIONSHIP WITH THE WEST AND PARTICULARLY U.S. HAS, IN

THE PAST, BEEN AND OIL FOR SECURITY PARADIGM.

BUT, HERE IN THE UAE THAT POSITION IS SHIFTING DRAMATICALLY.

IN 2019 THE GULF NATIONS SET UP A TECHNOLOGY GROUP THAT CONSOLIDATED MORE THAN 20 AND CHASE AND TO ONE IN AN ATTEMPT TO CREATE A DEFENSE CONTRACTOR THAT COULD RIVAL THE WORLD'S

BIGGEST.

FOUR YEARS LATER, THE COMPANY SIGNED IN 2023 MORE THAN FIVE BILLION DOLLARS WORTH OF CONTRACTS.

THAT INCLUDES AUTONOMOUS VEHICLES SHIPS AND CYBERSECURITY.

THE COUNTRY THE UAE PROTECTED TO SPEND NEARLY 100 BILLION DOLLARS ON DEFENSE OVER THE NEXT FIVE YEARS, AND A LOT OF THAT WILL GO TO EDGE CONTRACTS.

QUESTION IS THIS, HOW MUCH WILL GO TO RUSSIA AND CHINA?

TECHNOLOGY COMPETITORS FOR THE TRADITIONAL PARTNERS IN THIS AREA.

I SAT DOWN WITH THE CHAIRMAN OF -- .

AND ASKED JUST THAT.

THAT EDGE WE ARE NOT INVESTED IN A RUSSIAN OR CHINESE COMPANY, 80% IS LEADING TO ACCELERATING OUR GHANA GROWTH.

WHEN WE FULLY ONLY TECHNOLOGY AND OUR INTERNATIONAL ACQUISITION HAS BEEN SELECTIVE.

WE HAVE BEEN A LOT OF INTERNATIONAL ACQUISITIONS.

BUT, WE ARE LOOKING FOR MORE SMALL TO MEDIUM COMPANIES TO ACCELERATE CERTAIN AREAS.

SO, A COMPANY OUT OF ESTONIA THAT FOCUSES ON THE GROUND VEHICLES.

WE DO GROUND VEHICLES, BY ACQUIRING THEM WE ARE EXHILARATING ALL GROWTH.

WHAT IS THE UAE DEFENSE SECTOR NEED MOST OF AT THE PRESIDENT?

WHERE IS THE FOCUS?

ALL THE WAY, AS A GROUP, KATE FOR EVERYTHING FROM BASIC WEAPONS SHIPBUILDING MULTIPLE PRODUCTS.

OUR KEY FOCUS HAS BEEN, WE ARE BUILDING AUTONOMOUS PLATFORMS. WE ARE DOUBLING AND TRIPLING DOWN FOR MORE THAN AIR, LAND, OR SEE.

THAT IS ONE AREA OF FOCUS.

THE SECOND AREA OF FOCUS IS EVERYTHING IS DIGITAL.

WHICH MEANS ELECTRONIC WARFARE PLAYS A MAJOR ROLE AND FUTURE WARFARE.

LAST IS SMART WEAPONS, AS YOU CAN SAY WITH DIFFERENT WARFARE THE NEED FOR MORE PRECISE WEAPONS OR LESS COLLATERAL DAMAGE AS MORE AND MORE IMPORTANT.

HOW DO YOU COMPETE WITH THE ESTABLISHED DEFENSE MARKETS?

I'M TALKING ABOUT THE U.S., UK,

FRANCE WHICH WOULD HAVE BEEN THE TRADITIONAL SUPPLIERS OF DEFENSE EQUIPMENT, HERE.

AND WHY THERE ARE LARGE COMPANIES, WITH A LONG HERITAGE AND A LOT OF CAPABILITIES.

SO, I MEAN ON OTHER SIDES, THERE HAVE BEEN MANY INCUMBENTS THAT HAVE BEEN DINOSAURS.

THEY ARE BUREAUCRATIC, THEY ARE NOT EFFICIENT.

SO, OUR GROWTH THAT WE ARE HAVING IS DEVELOPING AT A MUCH MORE EFFICIENT SCALE.

WE ARE DEVELOPING AT A MUCH FASTER SCALE.

WE ARE BEING VERY PRAGMATIC AND WATCH BUILDING BLOCKS GO INTO OUR TECHNOLOGIES, AND THAT IS WHAT IS ALLOWING US TO LAUNCH PRODUCTS MUCH FASTER THAN OTHERS.

AND A MUCH MORE ECONOMICAL PRICE TO THE MARKET.

WHICH MEANS, IF I IS A GOOD EXAMPLE, WE JUST LAUNCHED A TACTICAL UAV.

AND I'M DROWN.

AND I'M DROWN.

WE ANNOUNCED THIS DRAWN A YEAR AND THREE MONTHS AGO.

AND IT WAS PURELY A MOCKUP, A DUMMY.

AND WE SAID, WE ARE DEVELOPING A STRONG.

WE JUST STARTED A FEW MONTHS AGO WE WILL BE ON THE MARKET SOON.

EVERYONE SAID OKAY, FIVE OR SIX YEARS BECAUSE IT TAKES TIME.

IT IS GOING INTO PRODUCTION NEXT YEAR, AND IT WILL COMPETE WITH THE BEST PRODUCTS AND IT CATEGORY.

AND CURRENTLY, ALTHOUGH THIS IS NOT A COMMERCIAL DISCUSSION, THE MARKET TODAY SENSE SUCH PRODUCTS BETWEEN 0.5 TO $5 MILLION.

WE ARE NOW SELLING FOR ONE POINT $1 MILLION.

THIS IS COMPETING WITH A TURKISH DRONE?

A CHINESE DRAWN?

THIS IS COMPETING WITH AVERAGE AROUND IN THE MARKET.

EVERYTHING WHERE WE NEED TO GO HEAD TO HEAD, SPECK, PRICE, AND PERFORMANCE.

HOW WOULD YOU DESCRIBE THE DEFENSE SECTOR OF THE MARKET?

CHINA JUST ANNOUNCING 7% OF HIS GDP WILL BE GOING TOWARDS DEFENSE.

THAT IS A SIGNIFICANT NUMBER.

I MEAN, THAT IS SIGNIFICANTLY MORE THAN THE U.S. THAT

PRESIDENT.

THERE IS DEFINITELY MORE SPENDING HAPPENING IN THE DEFENSE SECTOR, WEAPONS NEED TO BE MORE COST-EFFECTIVE.

BECAUSE, WARS ARE EXPENSIVE.

DEFENDING YOUR COUNTRY IS A DEFENSIVE EXERCISE.

WHICH MEANS, GETTING SOLUTIONS RAPIDLY, GETTING SOLUTIONS THAT ARE COST-EFFECTIVE AND SMART.

THE ROAD IS COLLATERAL DAMAGE, THAT CAN REALLY PINPOINT THE TARGET THAT YOU NEED IS A BIG AREA OF FOCUS FOR MANY COUNTRIES.

TRADITIONALLY, RELATIONSHIP WHAT THE WEST HAS BEEN A OIL FOR SECURITY PARADIGM.

THAT HAS SHIFTED SIGNIFICANTLY.

WE CAN SEE THAT HAPPENING.

IS THE SENSE FROM HERE THAT THIS IS A BUSINESS THAT HAS BEEN ESTABLISHED FOR ALL OF THE RAISINS THAT YOU HAVE JUST DESCRIBED?

BUT THAT THIS DOMESTIC DEFENSE AND ASTRAY WILL GET TO THE POINT AT WHICH IT DOES NOT NEED TO LOOK ELSEWHERE?

OR TO A TRADITIONAL PARTNERS?

I THINK THERE ARE VERY FEW COUNTRIES AROUND THE WORLD THAT CAN BECOME FULLY INDEPENDENT AND DEFENSE.

PROBABLY TWO OR THREE COUNTRIES AROUND THE WORLD HAVE THAT TYPE OF AN ECOSYSTEM.

I THINK, THE OBJECTIVE HERE IS WHAT THE CREATION OF A COMPANY DOWN THE LINE IS, AT LEAST IN COURSE SOLUTIONS THAT ARE THERE TO DEFEND THE COUNTRY, WE NEED

TO MAKE SURE A LARGE PERCENTAGE OF THAT IS COMING FROM SOVEREIGN CAPABILITY.

THAT DOES NOT MEAN WE WON'T BUY SOLUTIONS FROM OUTSIDE, OF COURSE WE WILL.

BUT, THIS CORE TECHNOLOGIES AND CAPABILITIES THAT ARE IMPORTANT TO DEFEND THIS COUNTRY, IT IS IMPORT