Showcasing Saudi Arabia's commitment to becoming a global hub for the defense industry, the World Defense Show 2024 opened in Riyadh on February 4 with participation from over 773 exhibitors representing 75 countries.

 

Under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and on behalf of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, the Minister of Defense and Vice Chairman of the Board of Directors of GAMI, Prince Khalid bin Salman bin Abdulaziz inaugurated the exhibition. 

 

This second edition of the event, organised by the General Authority for Military Industries (GAMI) from February 4 to 8, 2024, features numerous government entities and leading local and international companies in the defense and security sector. Touring the show, Prince Khalid viewed the aerial displays, static aircraft exhibitions, and ground equipment in the display area.

 

World-class event

This royal endorsement of the exhibition underscores the kingdom's leadership's dedication to hosting a a world-class event that ranks among the top defense and security exhibitions globally. It also affirms Saudi Arabia's ambition to become a global centre for organising exhibitions across all fields.

 

Ahmad Al-Ohali, Governor of the General Authority for Military Industries, expressed his profound gratitude to the royal family for their unlimited support. This support enhances the kingdom's strategic independence and directly serves the ambitious goals of Vision 2030 which aims to localise 50% of defense expenditure. 

 

He noted that the kingdom has begun to reap the benefits of this support, with localisation rates increasing from 4% to 13.6% at the end of 2022. The number of foundational permits and licences reached 477 permits for 265 companies operating in the defense industries sector, alongside the launch of over 74 investment opportunities for supply chain localisation. The sector's contribution to the GDP is expected to reach approximately SR93.75 billion ($25 billion) by 2030, with an estimated total of 40,000 direct job opportunities and 60,000 indirect job opportunities.

 

He also highlighted the exhibition's significance as a global platform for defense and security industry experts, manufacturers, and decision-makers. This second edition of the event builds on the successes and achievements of the inaugUral edition in 2022, positioning the exhibition as a strategic tool to support our beloved nation's localisation efforts.--TradeArabia News Service