IDEX 2017: Middle East market still relevant (video)
The Middle East market still maintains its relevance, particularly for Western defence manufacturers, but also for emerging suppliers in China and Russia.
However, low oil prices have affected the region with Saudi Arabia's defence budget plumetting by a whopping 30% in 2016, according to data released this week by the International Institute for Strategic Studies (IISS).
Between 2015 and 2016, Saudi defence spending went from $81.9bn to $56.9bn.
The huge reduction has been attributed to a number of factors not least the fall in revenues that have resulted from low oil prices.
'While national threat perceptions and the requirements of
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