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SAMI Aims to Become Top 25 Defense and Security Company by 2030

Our Bureau - : Mar 8, 2022 - : 2:59 am

SAMI, Saudi Arabia’s national champion for the defense industries sector, has set its sights on becoming one of the top 25 defense and security companies in the world by 2030.

Apart from being the strategic partner of the ongoing World Defense Show (WDS) in Riyadh, SAMI is showcasing a variety of innovative and comprehensive defense products and systems at the event. Among its goals from the event are expanding partnerships with OEMs, establishing new joint ventures and subsidiaries, creating more employment opportunities, and boosting its exports.

Among the main achievements of the group is the localization of defense and security industries. As part of its efforts to help the country’s defense sector boost its indigenous capabilities, SAMI has helped in transferring production, knowledge, and technology to the country, attracted foreign direct investments, and supported the growth of the SME sector through its affiliates.

“With our sights firmly set on our strategic vision to become one of the top 25 defense companies in the world by 2030, we have been building up our capabilities across our five business divisions of Aerospace, Land, Sea, Advanced Electronics, and Defense Systems,” said Walid Abu Khaled, CEO of SAMI. “Simultaneously, our efforts to support localization and strategic partnerships continue to accelerate our journey towards this goal through the transfer of technology, knowledge, and production to the Kingdom.”

In the past five years, SAMI partnered with five global OEMs to establish operational joint ventures focused on localizing manufacturing and technology . The group has also made strategic acquisitions and established subsidiaries to develop its capabilities across key defense segments. The on-the-job training (OJT) launched by its joint venture company SAMINavantia has been instrumental in attracting young Saudi engineers and technicians to the sector; more than 30 Saudi engineers have completed their OJT to date.

The successful completion of the Al-Sarawat project involving five new Avante 2200 corvettes for the Royal Saudi Naval Forces was among the exceptional achievements achieved by the group in 2021. The annual revenue registered a whopping 2,407% increase to reach SAR 2.6 billion, and the contracts and backlog exceeded SAR 10 billion with a localization commitment of 57.7% approved by the country’s General Authority for Military Industries (GAMI).

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