On February 28th, the General Authority of Civil Aviation (GACA), and the U.S.-Saudi Business Council (USSBC), organized a high-level program consisting of presentations, luncheon and one-on-one meetings in Irvine, CA. The event attracted over 140 attendees, including more than 100 U.S. C-suite executives and representatives from large Fortune 500 companies and SMEs. They offered products and services including airport architecture, engineering, planning and operations, cargo facilities development, management and construction, fixed based operations for airports, maintenance, repair and overhaul of aircraft, engine or accessories, information technology and system integration, and sustainability solutions. Members of the audience also provided air transport services, helicopters and new approaches in aircraft design that offer a step-change in aerodynamics and fuel efficiency, namely eVTOLs, hydrogen-electric aircrafts and blended wing body designs.
His Excellency Abdulaziz Al-Duailej, President of GACA offered remarks centered on the transformation of Saudi Arabia’s aviation sector, emphasizing the significant role of U.S. contributions in its advancement. GACA representatives, including Ali Rajab, Executive Vice President; Rashid Alreshoud, General Manager of Strategic Planning and Special Projects; Capt. Sulaiman Saleh Almuhaimedi, Executive Vice President of Aviation Safety and Environmental Sustainability; Saud Marshoud Alharbi, General Manager of Technology and Digital Transformation; and Imtiyaz Manzary, General Manager for General Aviation, elaborated on opportunities across general aviation, digitalization, safety and environmental sustainability, advanced air mobility, and technology and digital transformation. Of significance, U.S. FDI stock in Saudi Arabia was estimated at $20.4 billion on 2022, the largest among G20 countries. In 2023, Saudi Arabian Airlines, the national carrier with direct flights from Los Angeles, Washington-Dulles, and New York, witnessed a 23 percent growth of passengers from the U.S. compared to 2022.
Susanne Lendman, Interim President and CEO of the USSBC thanked the Council members in attendance and stated: “We are pleased to continue our long collaboration with Saudi Arabia’s General Authority of Civil Aviation by supporting its efforts to attract American companies to the incredible opportunities in Saudi Arabia’s aviation sector. To reach its aim of becoming a top 10 tourism destination by 2030, Saudi Arabia’s ambitious goals include expanding the airport network capacity, increasing efficiency, and improving passenger experience. U.S. firms have the technology and know-how to be important contributors to the Saudi aviation sector’s development. Through this event, we reaffirm our commitment to fostering partnerships and driving innovation between our two nations.”
Following GACA’s presentations, Eng. Mohammed Almaglouth, CEO of MATARAT Holding, provided updates on the Saudi airport sector, and outlined business prospects. In sum, Matarat owns 4 companies that operate 27 airports across Saudi Arabia (JEDCO, Riyadh Airports, DACO and Cluster 2), and plays a crucial role in the development of airport masterplans. Investment opportunities include airport specific categories (passage boarding bridges, docking guidance systems, baggage handling systems, flight information display systems, metal detectors, customer self-check in, aeronautical ground lighting) and general (escalators chillers, air handling units, firefighting systems, fire detector, transformers, etc.). Rayan Sindi, Senior Vice President at Public Investment Fund, shared insights into the activities of various portfolio companies related to general and commercial aviation activities as well as aviation and security services. Nawaf Al Tassan, Senior Business Development Manager at the Ministry of Investment, concluded the program by shedding light on enablers and incentives for companies considering investment opportunities in the Kingdom.
The Saudi delegation also included key sector stakeholders such as Fahd Cynndy, CEO of Saudia Technic; Abdulnaser Alkheraif, CEO of Alpha Star Aviation Services; Fahad Wallan, CEO of Wallan Aviation; Mohammed Al-Hassany, CEO of DACO; Ayman Abdulaziz Aboabah, CEO of Riyadh Airports, along with representatives from Riyadh Air and the Saudi Aviation Academy.
Participants held over 60 one-on-one meetings to explore the relevance of their products and services to the prospects highlighted in the presentations.
The GACA team took the opportunity to announce that they would be hosting the 3rd Future Aviation Forum (FAF 2024), May 20-22, 2024 in Riyadh. FAF 2024 aims to enable aviation companies, airports, governments, and tech suppliers to learn, connect, showcase, and strengthen relationships with key industry stakeholders to elevate global connectivity. The Forum aims to draw over 1,500 local and international participants including senior ministers, civil aviation authorities, aviation sector leaders, investors and technology leaders. More information can be found at www.futureaviationforum.com
The USSBC will be leading a U.S. business development mission to the FAF 2024. More details will be shared soon.
