Saudi Arabia signs deals worth over SAR20bn at World Defense Show 2024
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Saudi Arabia signs deals worth over SAR20bn at World Defense Show 2024

Saudi Arabia signs deals worth over SAR20bn at World Defense Show 2024

The contracts cover a wide range of defence technologies and initiatives, with a focus on enhancing military equipment and infrastructure

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The World Defense Show saw 29 deals worth SAR20bn ($6.9bn), signed by Saudi Arabia’s Ministry of Defense over four days in Riyadh, reported Saudi Press Agency (SPA).

The contracts and MoUs signed included both local and international companies specialising in defence and security technologies.

These were aimed at bolstering the capabilities and combat efficiency of the country’s armed forces while advancing domestic manufacturing capabilities in line with the national agenda – Vision 2030.

World Defense Show 2024

Organised by the General Authority for Military Industries (GAMI), the World Defense Show 2024, held from February 4-8, saw participation from over 750 exhibitors worldwide.

The kingdom’s Ministry of Defense, serving as the main partner of the event, utilised its pavilion to showcase the nation’s rich heritage, historical transformations, defense capabilities, and future development programmes.

The contracts cover a wide range of defence technologies and initiatives, with a focus on enhancing military equipment and infrastructure.

Local manufacturing

Notable among these agreements is the collaboration between the Ministry of Defense and US weapons producer Lockheed Martin, which will see the manufacture of parts for the Terminal High Altitude Area Defense (THAAD) system in Saudi Arabia.

The sub-contracts for the THAAD systems will enhance manufacturing capabilities in Saudi Arabia and transfer expertise to strengthen the country’s defence industry, Lockheed said in a statement on Monday.

Additionally, Airbus revealed ongoing discussions with existing operators, including Saudi Arabia, for further orders of its A330 tanker military planes.

Boeing Saudi Arabia, in partnership with Bahri Logistics, signed a memorandum of understanding (MoU) aimed at bolstering supply chain activities and supporting defense-related products.

In a significant development, Qatar’s Barzan Holdings announced a preliminary agreement with Saudi Arabian Military Industries (SAMI), marking the first such collaboration between the two countries since the resolution of their longstanding dispute, reported Reuters.

“We would like to explore some quick wins with them and think about longer term opportunities as well,” CEO Abdullah al-Khater told Reuters, without specifying the nature of projects.

The World Defense Show 2024 not only served as a platform for forging strategic partnerships but also highlighted the importance of international cooperation in addressing regional security challenges.

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