Abu Dhabi – Al Seer Marine Supplies and Equipment Company secured a production agreement valued at AED 47.60 million to deliver high-speed interceptor vessels to Albwardy Damen in Sharjah.

Delivery will span 42 months, with the units slated for integration into offshore patrol vessels (OPVs), according to a press release.

The deal comes amid the accelerating global and regional demand for OPVs, particularly in the Middle East, where maritime security and naval capability development have become national imperatives.

The new production mandate is expected to improve financial performance over the contract period and reinforce the company’s shift toward high-value, IP-driven manufacturing and defense export capabilities within the UAE.

Guy Neivens, CEO of Al Seer Marine, commented: “The global OPV market is projected to grow from $38.10 billion in 2024 to $73.30 billion by 2033, at a CAGR of 7.15%, according to a recent report published via GlobeNewswire—positioning it as one of the highly profitable segments in the shipbuilding industry.”

“With our long-term strategic vision, we anticipated this trajectory early, driving targeted investments in our technologies, infrastructure, and engineering depth to establish the naval shipbuilding vertical as a core driver of our revenue growth, portfolio diversification, margin resilience, and long-term value creation for our investors,” he added.

In 2024, Al Seer Marine reported operational profits of AED 107 million on revenues exceeding AED 1.28 billion.

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