U.S.-Saudi Business Council Participates at the 3rd Future Aviation Forum in Riyadh

The U.S.-Saudi Business Council (USSBC) members and staff spoke at the 3^rd edition of the Future Aviation Forum (FAF) 2024, organized by the General Authority of Civil Aviation (GACA) in Riyadh, May 20-22, 2024.

The forum, titled “Elevating Global Connectivity,” covered Infrastructure Development and Sustainable Aviation Initiatives across three pillars, namely Talent & Futures, Collaboration & Ecosystems, and Innovation & Technology. It aimed to enhance global partnerships across the aviation value chain and adjacent industries, foster innovation, and advance discussions on industry trends, priorities, challenges, and opportunities for investment, sustainable air travel, airports, air connectivity, supply chain management, human capacity, and cultural exchange. The FAF showcased $100 billion worth of investment opportunities across airports, airlines, cargo, logistics, and business aviation. H.E. Abdulaziz Al-Duailej, President, GACA, highlighted key achievements of the Saudi aviation strategy since its launch in December 2020 in terms of passengers, global connections, and cargo capacity.

Saudi Arabia aims to accommodate over 330 million passengers and handle 5 million of cargo freight by 2030.  The aviation sector is undergoing significant reform, in alignment with the Vision 2030, to modernize airport infrastructure such as terminals, hangarage capacity, general aviation facilities, and improve air connectivity. It is leading efforts to ensure sustainable aviation practices including promoting sustainable aviation fuels and implementing policies to support the sector growth and resilience. More specifically, the Kingdom is focusing on sustainable aviation growth, targeting zero emissions by 2060. To achieve this goal, the Kingdom is investing in hydrogen fuel infrastructure among others.

The keynote speech is available here.

USSBC members Kyle Clark, Founder and CEO of BETA Technologies, and Adam Ginster, Co-Founding Director & Regional Head, Middle & East Africa of Hoffmann Reed, offered perspectives on their companies’ contributions to human capabilities development and advanced mobility. Ana Carmen Neboisa, Vice President of the USSBC, led a panel discussion on female pioneers such as Captain Reem Flimban, First Officer for Airbus H160 at The Helicopter Company, the first Saudi woman to pilot a helicopter, and emphasized the importance of fostering a supportive community for women in aviation. Moreover, the Council recommended speakers in areas such as education, Blended Wing Body aircraft design, airport architecture, and advanced mobility.

Over 8,500 experts and leaders of the global aviation sector, including 31 ministers and 77 leaders of civil aviation authorities from 130 countries witnessed the signing of over 100 MoUs exceeding $20 billion (SR 75 billion) in aviation services, aircraft purchase, cargo and logistics services, advanced air mobility, human resources development, information technology, maintenance, repair, and overhaul. USSBC members Saudi Aramco and Bombardier signed an agreement for the purchase of two new super mid-sized Challenger 3500 business jet aircraft, with delivery scheduled for 2025 and 2026. USSBC member NEOM signed an agreement with Saudia Technic to engage in future discussions and collaboration in the field of aircraft maintenance, repair, and overhaul heavy-lift Uncrewed Air System (UAS) and passenger electric vertical take-off and landing (eVTOL).

GACA announced investments in six new specialized general aviation airports and other initiatives to enhance infrastructure and service quality. In addition, GACA launched the first edition of the Kingdom’s aviation sector report that underscored the $53 billion contribution of aviation to the Kingdom’s economy, accounting for 5.2 percent of the country’s gross value added, as well as 958,000 jobs across all provinces, especially Makkah, Riyadh and the Eastern Province. Moreover, over 112 million passengers traveled through the Kingdom’s airport in 2023, a 27 percent increase compared to 2022.

FAF included the first aviation investment exhibition that included U.S. based eVTOLs (electric vertical take-off and landing aircraft) Archer Aviation and Joby Aviation. Sponsors included Council members SAMI and SAFE as well as Saudia, Matarat, King Salman International Airport, Saudi Air Navigation Services, Riyadh Air, Boeing, Airbus, Embraer, and Comac.

Riyadh hosted several prominent aviation during the week including the World Annual General Assembly, Conference and Exhibition (WAGA 2024) of the Airports Council International (ACI), the 2024 Global Summit International Civil Aviation Organization’s (ICAO), the Seventh Meeting of the Directors General of Civil Aviation-Middle East Region, and the meeting of the Regional Organization for the Regional Safety Oversight Organization for the Middle East and North Africa.

The USSBC has an MOU with GACA to contribute to the advancement of U.S.-Saudi business and investment relationships in the aviation industry. The USSBC has recently hosted the GACA leadership and key stakeholders for an industry day event in Irvine, CA.

For more information, click here.