At the 2021 Abu Dhabi International Defense Exhibition and Conference (IDEX), Saudi Arabian Military Industries (SAMI) agreed to a 51 percent owned joint venture with Lockheed Martin Corporation. The nature of the venture is to aid the localization of defense industries in Saudi Arabia as well as the training and development programs for Saudi talent. Lockheed will contribute to Saudi Arabia’s endeavor to build a sustainable and self-sufficient military sector through “Transfer of Technology” and “Transfer of Knowledge.” The agreement will provide new job opportunities as Saudis will be trained by Lockheed Martin for specialized labor: production, maintenance, and repair of rotary and fixed wing aircraft, and missile defense systems. In addition, this deal reflects Saudi’s commitment to their diversification goals as global partnerships will solidify integrated systems in Saudi defense industries.
You also might be interested in
The U.S.-Saudi Business Council (USSBC) members and staff spoke at[...]
Organized by Saudi Arabian Military Industries (SAMI) in collaboration with the U.S.-Saudi Arabian Business Council, the Defense Technology and Security Conference concluded its sessions with the participation of more than a dozen high-profile speakers and over 100 industry leaders, advisors, regulators, and influencers who came to discuss and learn more about Saudi Arabia’s vision and strategic outlook in developing its defense industry with a special focus on technology and security as the two main components of the program.
Lockheed Martin Corporation has been awarded a $610.5 million Foreign Military[...]