Al Seer Marine has secured a production agreement valued at AED47.6 million ($13 million) to deliver high-speed interceptor vessels.
Delivery is expected to span 42 months, with the units slated for integration into offshore patrol vessels. All vessels will be designed, built, and outfitted entirely in the UAE.
“The global OPV market is projected to grow from $38.1 billion in 2024 to $73.3 billion by 2033, at a CAGR of 7.15 per cent," said Guy Neivens, CEO of Al Seer Marine, "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.”
In 2024, Al Seer Marine reported operational profits of AED107 million on revenues exceeding AED1.28 billion.
"The new production mandate is expected to enhance financial performance over the contract period and further strengthen the company’s shift toward high-value, IP-driven manufacturing and defence export capabilities within the UAE," said the company.