“Only six years after its establishment, SAMI claims to have a backlog of over $10 billion in contracts, and its CEO announced reaching a localization percentage of close to 15%. In 2020, SAMI’s annual revenue was a mere $20 million, which then increased to $690 million in 2021. A few months later, in March 2022, SAMI captured more than half of the $2.9 billion in contracts awarded to local companies during the World Defense Show held in Riyadh.”

-Albert Vidal [Gulf International Forum]