Home » Deals worth SR 29.7 billion concluded at the World Defense Show

Deals worth SR 29.7 billion concluded at the World Defense Show

by Editor

The World Defense Show, organized by the General Authority for Military Industries (GAMI), registered a total of 29.7 billion riyals in military and defense procurement contracts between local and international bodies, reflecting its role as a global platform for international collaborations, and supporting efforts to develop defense and security industries globally.

Deals worth SR 29.7 billion concluded at the World Defense Show

World Defense Exhibition, the leading defense event in the region, concluded with 600 exhibitors from 42 countries, attendance by over 80 military delegations, and more than 65,000 visitors from 85 countries. The event took place from 6 to 9 March under the patronage of King Salman bin Abdulaziz Al Saud, the Custodian of the Two Holy Mosques.

During the exhibition, contracts were awarded for the production of defense systems and equipment, military equipment, vehicles, ammunition, and support services, with 46% of these contracts going to national companies worth SR 10 billion. By transferring technology and building local technical and human capacity, these contracts will aid in the process of localizing the military industry in the Kingdom.

As part of an evaluation campaign, GAMI worked with partners to review and study the contracts that were announced, taking into account their level of technical options and approved international specifications, their operational effectiveness, and their contribution to expenditure efficiency.

A total of 22 localization and capacity building agreements with local and international companies specializing in the military and defense industries, amounting to SR8 billion in industrial participation, were also announced at the exhibition. As part of this effort, military systems were directly localized, and professional capabilities were built in the targeted industrial fields, such as building production lines, transferring and localizing technologies and services, as well as training and qualifying national cadres for work in the defense and military sectors.

The Governor of GAMI, Eng. Ahmed bin Abdulaziz Al-Ohali, expressed his thanks and appreciation to the Custodian of the Two Holy Mosques for his generous patronage, and to His Royal Highness the Crown Prince for honoring the exhibition, and for their unlimited support. He noted that the results of the exposition exceeded expectations, establishing it as one of the leading defense and security shows in the world.

The partnerships that took place during the exhibition represented a new era of growth for the Kingdom’s defense and security system in order to meet the goal of localizing over 50% of government expenditures on military equipment and services by 2030. We request that exhibitors, delegations, and visitors continue the dialogue that started during the exhibition on the future of the industry, support innovation, and cooperate with serious intent, and we look forward to seeing everyone at the next edition on March 3-6, 2024.

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