How UAE defence giant EDGE Group plans to double its exports
The UAE defence conglomerate has put an aggressive strategy in place to increase its share of exports while navigating the growing gap between East and West.
Aircell has appointed Michael Small as president and CEO of the company, with current president and CEO, Ron LeMay, returning to the position of chairman of the board previously held prior to 24 July 2009.
Small is a 29-year veteran of the communications industry, having recently served as chief executive officer and director of Centennial Communications Corporation. Prior to joining Centennial, he served as executive vice-president and chief financial officer of 360 Degrees Communications Company from 1995 to 1998. Before that, he served as president of Lynch Corporation, a diversified acquisition-oriented company with operations in telecommunications, manufacturing and transportation services.
"Aircell represents a great opportunity for me to lead a rapidly growing communications company that will revolutionise inflight connectivity and entertainment," Small commented. "I am excited to take on this role working with a talented team of people to build on and extend the success Aircell has achieved."
Over the past year, Aircell has steadily increased the daily number of aircraft deployed with its Gogo Inflight Internet service, and is now providing service on more than 717 commercial aircraft, with commitments from a total of nine airlines. Aircell recently crossed its two millionth customer milestone and is poised to continue its accelerated growth into the future.
Jack Blumenstein, current chairman, will continue to serve on the board.
The UAE defence conglomerate has put an aggressive strategy in place to increase its share of exports while navigating the growing gap between East and West.
The US Congress has raised concerns about how inflation rates and cuts in main acquisition programmes could affect the US military.
Washington’s ageing inventory and the pace Moscow and Beijing have been modernising their capabilities put in check the US Nuclear deterrence.
The Pentagon has been operating under temporary funding since October 2023, which has impacted its main acquisition and development programmes, increasing the capability gap between the US and China.
In 2023, defence spending increased by an unprecedented 11% across European NATO countries and Canada. Since 2014, the group has spent an additional US$600 billion on defence.
The DoD requested nearly US$850 billion to fund operations over the next fiscal year. Despite the amount being 1% higher than the FY2024 budget request, it has not covered the 3% inflation rate, which could impact the DoD’s main programmes in the medium and long term.