Saudi Arabia will join the China Aviation and Aerospace Exhibition 2024 in Zhuhai to advance partnerships and bolster its military sector.
The General Authority for Military Industries (GAMI) is managing the Kingdom’s pavilion at the international event from Nov. 12 to 17.
The pavilion will host government entities and companies specializing in military industries, showcasing the latest technology and equipment.
Saudi Defense Sector Aims for Major Economic Contribution by 2030
Saudi Arabia’s defense industry expects to contribute $17 billion to GDP by 2030, enhancing non-oil revenue by $9 billion.
The sector’s projected growth includes generating 100,000 jobs by 2030, benefiting both direct and indirect employment markets.
The Kingdom is developing 74 supply chain investment opportunities valued at SR150 billion ($40 billion) to boost defense localization.
Defense investments expect to contribute $10 billion to the national economy by 2030, supporting Saudi Vision 2030 goals.
Saudi Arabia Offers a Promising Investment Landscape
The pavilion will emphasize investment potential in Saudi Arabia’s defense sector, promoting its favorable investment environment.
Established in 2017, GAMI collaborates with public and private sectors to strengthen local and international military industry partnerships.
Government bodies, including the Ministry of Investment, join GAMI alongside firms such as WAKEB AI, Milestone Aviation, and others.
GAMI’s collaboration across sectors fosters economic growth, encouraging an investor-friendly environment through strategic policies and regulations.
The sector’s market size, cross-sector impact, and industrial programs make Saudi defense more accessible to global investors.
The Kingdom’s Economic Ascent in the G20
Saudi Arabia’s international presence solidifies its position as one of the G20’s fastest-growing economies, GAMI stated.
The Kingdom aims to attract global investors and advance Vision 2030’s military objectives through its China Airshow participation.
The pavilion will display diverse military products, particularly in aviation, reflecting Saudi Arabia’s commitment to military manufacturing.
The Kingdom targets localizing over 50 percent of government military spending on equipment and services by 2030.
