McDermott, who spent the majority of his playing career at Arsenal, believes that calls for the Frenchman to be sacked are premature, backing the Gunners to find success come the end of the campaign.
“[Arsene] is a real football man and has been at the Arsenal a long time,” McDermott told The Times.
“I don’t look at football as crisis. Arsenal is a massive club and well run financially, a terrific institution. I cannot see it as them being in crisis.
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“They generally come good at the back end of the season. However many years since Arsene has been there they have made the Champions League. I have always kept a close eye on how Arsenal are doing because I was there eight years and they taught me a lot.
“Historically Arsenal are in the top three or four every season. Even Arsene himself will be asked that question ‘you have not won a trophy for seven years’.
“I am sure he is fed up with it and I understand the fans’ frustrations. He will want to win trophies more than anyone. Arsene has been there for a long time and it is a stable club. I would not back against Arsenal finishing in the top four.”
The Royals face the Gunners at the Madejski Stadium on Monday with the hosts hoping to stave off relegation, having dropped to the foot of the Premier League thanks to QPR's win over Fulham on Saturday.
McDermott’s men are currently six points from safety and have won only once this season, but the 51-year-old is hoping to strengthen his squad in January in an attempt to secure their top-flight status.
“Staying in the Premier League for us is massively important, of course it is,” McDermott continued. “Even spending a lot of money doesn’t guarantee anything.
“It would be good to get two or three lads in that have played at the level, know the level — have that nous. That isn’t cheap.”