Key Saudi Arabian defense stakeholders are seeking to raise the profile of the Kingdom's domestic defense industry at the Farnborough Airshow.
Under the national âInvest Saudiâ banner, the General Authority for Military Industries (GAMI), Saudi Arabiaâs defense industry regulator is leading the KSA Pavilionâs participation alongside key government entities and private sector representatives, including the Ministry of Investment, Saudi Arabian Military Industries (SAMI), and the World Defense Show (WDS).
GAMI governor Ahmad Al-Ohali underlined domestic capabilities, in particular GAMIâs efforts to nurture national talent. "Human capital continues to be a major focal enabler of the Kingdomâs ambitious localization journey, as evidenced by the launch of the Military Industries Human Capital strategy in February and the subsequent announcement of the establishment of the National Academy of Military Industries shortly thereafter," said Al-Ohali.
The defense sector and matters of national security stand at the forefront of the Kingdomâs priorities, and localizing this and other key sectors means expanding the potential of non-oil revenue streams in line with Vision 2030, Saudi Arabia's plan to diversity away from hydrocarbons.
GAMI aims to localize more than 50 percent of national expenditure on defense equipment and services by 2030. As one of the worldâs most promising defense industries, GAMI believes it offers billions of dollars worth of investment opportunities across the supply chain.
The inaugural WDS took place in early March, necessitating a lifting of several Covid restrictions in the Kingdom, and was, according to participants, three times bigger than last yearâs Dubai Airshow.