European defense tech startups are ramping up commercial discussions with Middle East governments since the Iran war, company execs told CNBC. Another CEO said interest from Gulf states was “skyrocketing” as they race to bolster measures to counter drone and missile attacks.
Iran has targeted its neighbors since a joint U.S.-Israeli military operation began at the end of February, with more than 3,000 drones and missiles having been fired on the United Arab Emirates, Saudi Arabia, Bahrain and Kuwait, according to data compiled by think tank the Center for Strategic and International Studies.
European startups that develop defense technology, in particular drone and missile interceptors, told CNBC they were increasingly talking with and receiving approaches from Gulf states to supply their militaries. Others are ramping up hiring in the region as they look to meet the demand for their systems.
Earlier this month, the UK government convened a meeting of defense companies to meet ambassadors and defense attaches from Saudi Arabia, Kuwait, Bahrain, Qatar, the UAE, Iraq and Jordan.
The discussion focused on “potential new defensive equipment and technology that British-based companies could supply at rapid pace to allies to counter Iranian drone and missile attacks,” the government said in a statement.
