With one of the highest military spends worldwide, Saudi Arabia is in the midst of restructuring its defence sector and expanding its military industry to greater higher added value can be generated for the national economy. The sector has witnessed significant change over recent years, with major reforms under way across all subsectors of the industry. Recent trends have included the introduction of new government entities to lead the drive for localisation, a new defence contracting mechanism…
Security, Aerospace & Defence
From The Report: Saudi Arabia 2020
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Saudi Arabia is in the midst of restructuring the defence sector and expanding its military industry to ensure more value can be brought to the national economy. The realisation of Vision 2030 requires the development of new high-value-added industries, and the security, aerospace and defence sector stands to become a key element of this strategy. Central to the achievement of these diversification and localisation goals is the development of an advanced domestic industrial and research capacity that generates sustainable employment. Ongoing efforts to foster international partnerships and attract investment will prove vital in this endeavour. Moving forwards, key priorities will continue to be the advanced protection of both the country’s airspace and cyberspace from threats, while ensuring that defence spending delivers the highest returns.