ABU DHABI: The UAE is hosting a stand-alone trade show focusing on drone technology for civil and military use amid surging demand for such systems across the region.
Running until Tuesday, the Unmanned Systems Exhibition and Conference (Umex) is being attended by 14 nations and 35 exhibitors.
Brig. Gen. Rashid Mohammed Al-Shamsi, chairman of the higher organizing committee of Umex and SimTEX 2018, said this year’s exhibition will shed light on scientific and technological progress and innovation in the UAE.
Among the top companies in attendance is General Atomics, a San Diego-based defense contractor known for its Predator drones. The UAE previously purchased some $200 million worth of surveillance-only Predator drones, according to reports.
The model of Predator drone bought by the UAE has a flight time of more than 35 hours and operates at altitudes of 25,000 feet, according to General Atomics.
Last year, Saudi Arabia entered into an arrangement with a Chinese drone manufacturer, China Aerospace Science and Technology Corporation (CASC), that will see drones made in the Kingdom. CASC has also sold drones to Egypt, Iraq and Jordan, underlining the appetite for the technology in the region.
The US has so far been reticent to sell drones to anyone but its closest allies, fearing proliferation of the technology.
India has also snapped up non-militarised drones, buying an estimated 22 Sea Guardian drones in late 2017 for a reported $2 billion, according to local media. The drones will be used to monitor the Indian coastline.
In the civilian field, Dubai’s Road and Transport Authority showcased its autonomous air taxi at the tech-focused Gitex trade show in October 2017. The nation also is home to ‘The UAE Drones for Good Awards,’ which showcases exemplary work in civilian drone design.
According to the award’s website, the global drone industry will be worth $8-10 billion by 2025, and will be responsible for more than 100,000 jobs.
Consumer drone sales worldwide are growing rapidly, with Business Insider Intelligence forecasting the market will balloon from 13 million units sold in 2018 to 29 million units in 2021.
The Consumer Technology Association reports that 2.4 million personal drones were sold in the US alone in 2016, double the number sold in America in 2015.
Abu Dhabi drone show draws in a global audience
Abu Dhabi drone show draws in a global audience
Silver crosses $77 mark while gold, platinum stretch record highs
- Spot silver touched an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits
- Spot platinum rose 9.8% to $2,437.72 per ounce, while palladium surged 14 percent to $1,927.81, its highest level in over 3 years
Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of US Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.
Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation as a US critical mineral, and strong investment inflows.
Spot gold was up 1.2% at $4,531.41 per ounce, after hitting a record $4,549.71 earlier. US gold futures for February delivery settled 1.1% higher at $4,552.70.
“Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
Markets are anticipating two rate cuts in 2026, with the first likely around mid-year amid speculation that US President Donald Trump could name a dovish Fed chair, reinforcing expectations for a more accommodative monetary stance.
The US dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.
On the geopolitical front, the US carried out airstrikes against Daesh militants in northwest Nigeria, Trump said on Thursday.
“$80 in silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next year,” Grant added.
Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.
On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.
Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.
All precious metals logged weekly gains, with platinum recording its strongest weekly rise on record.
