Saudi Arabia is hosting its first ever major defense show as industry giants from around the world assemble in Riyadh to display the latest in military tech — and pitch for lucrative opportunities as Saudi Arabia seeks to localize much of its defense industry production.
Already, some of those companies are winning out.
U.S.-based Lockheed Martin Corp.
U.S.-based Lockheed Martin Corporation and Saudi Arabia’s private-sector defense company, the General Authority for Military Industries (GAMI), have announced they will partner on two projects as part of the localization of the Terminal High Altitude Area Defense (THAAD) weapon system program.
Another U.S.-based defense behemoth, Raytheon Technologies Corporation, also notched a win on the ground in Riyadh this week, announcing that it plans to move Patriot missile parts production to Saudi Arabia, according to Asharq, which cited Thomas Laliberty, the vice president of Land Warfare & Air Defense at Raytheon Missiles & Defense.
Crown Prince Mohammed bin Salman.
Not to be left behind, American aerospace manufacturer Boeing said it plans to expand its workforce in Saudi Arabia in line with the government’s vision to have 50 percent of its military equipment needs met locally by 2030.
The show was personally launched by Saudi Crown Prince Mohammed bin Salman on Sunday at the purpose-built expo center for the event, and official photos show the Crown Prince touring the massive show.
Over 590 companies representing 42 countries are taking part in the exhibition, and over 70 of those companies are American.
Military vehicles on display in Riyadh for the World Defense Show.
Saudi Arabia is one of the top spenders globally on defense. In 2020, it was the 6th largest spender on defense, plopping down an estimated $57.5 billion on defense, according to SIPRI. For 2022, Saudi Arabia’s budgeted defense spending is down from that figure, however, at $45.5 billion.
The event runs until March 9th as the world’s attention is largely on the Russian invasion of Ukraine. As Reuters reports, visitors were met with “the surreal sight of seeing the latest Ukrainian and Russian military hardware competing for attention in pristine exhibition halls.”
