In keeping with its commitment to developing the capabilities of Saudi Arabia’s military industries sector and continuing to play an active role in localizing the Kingdom’s military spending, Saudi Arabian Military Industries (SAMI), a wholly-owned subsidiary of the Public Investment Fund (PIF), will participate in the International Defense Exhibition (IDEX) 2021 under the title ‘Invest Saudi’ through the Saudi Pavilion.
Supervised by the General Authority for Military Industries (GAMI), the Saudi Pavilion will bring together several major Saudi national institutions and companies specialized in the field of military and security industries. The exhibition will be held from 21 to 25 February at the Abu Dhabi National Exhibition Center in the UAE capital, Abu Dhabi.
SAMI aims to represent the Kingdom of Saudi Arabia at the international exhibition and support the vision of the Kingdom’s leadership for the military industries sector. SAMI also supports PIF’s efforts in localizing cutting-edge technology and knowledge, as well as building strategic economic partnerships. The national defense champion seeks to contribute toward the localization of over 50% of the Kingdom’s military industries sector by 2030.
Besides, SAMI will exhibit its most significant accomplishments in the sector and its local capabilities in meeting the operational needs of the military. SAMI’s participation comes at a time when Saudi Arabia’s military industries sector is witnessing unprecedented support in terms of empowering local manufacturers, developing promising local companies, and supporting major national companies to strengthen their position globally.
SAMI will also showcase its innovative military products and comprehensive defense systems, spread across its Land Systems, Aeronautics, Defense Electronics, Weapons and Missiles, and Emerging Technologies divisions. SAMI’s exhibits will also include the products and technologies developed by its affiliates Advanced Electronics Company - AEC (a wholly-owned subsidiary), Accessories and Components Company (AACC), SAMI Navantia Naval Industries (a joint venture with Navantia S.A.), SAMI L3Harris Technologies (a joint venture with L3Harris Technologies), and SAMI CMI Defense Systems (a joint venture with CMI Group).
Established in May 2017, SAMI operates four major divisions, including Aeronautics, Land Systems, Weapons and Missiles, and Defense Electronics. SAMI is owned by the Public Investment Fund (PIF) - Saudi Arabia’s sovereign wealth fund.
SAMI is planning to invest up to $1.8 billion (SR7 billion) during the coming period, in strategic partnerships, projects, and certain acquisitions, CEO Walid Abukhaled said in a recent interview on the sidelines of the Future Investment Initiative (FFI) Summit which took place on 27-28 January 2021 in Riyadh, Saudi Arabia.
SAMI is also aiming at to be ranked among the top 25 defense companies in the world by 2030, and the acquisition of AEC has given it a big push in that direction, taking many years off the timescale toward that goal.
Earlier this month, SAMI has successfully launched a new joint venture (JV) with L3Harris Technologies, one of the world’s largest aerospace and defense systems manufacturers.
SAMI L3Harris Technologies has been created with the goal of accelerating SAMI’s growth by developing advanced communication, sensor, and integrated mission systems capabilities in support of Saudi Arabia’s armed and security forces.
Saudi Arabia is the world’s third-biggest defense spender and until recently it imported virtually all of its military equipment from abroad.