Security, Aerospace & Defence
From The Report: Saudi Arabia 2023
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Saudi Arabia allocated 7.4% of its GDP to defence expenditure in 2022, making it the world’s second-highest spender relative to GDP. Amid escalating global tensions and heightened military spending worldwide, Saudi Arabia emerged as a major player, ranking fifth in global defence spending in value terms, at $75bn. The Kingdom’s commitment to reinforcing national security and enhancing defence capabilities aligns with Vision 2030’s diversification and reform agenda. Efforts include the development of a thriving domestic defence manufacturing industry, with the aim of reducing reliance on foreign suppliers. Significant investment in advanced defence technology, local military procurement, workforce development, and high-tech security and aerospace segments are in progress, underscoring the Kingdom’s strategic vision.

This chapter contains an interview with Simon Barnes, CEO, BAE Systems.