Saudi Arabia aerospace and defense market is experiencing growth and development. Saudi Arabia economy has been transformed to reduce their dependency on oil sector and moving towards developing other sectors such as aerospace and defense sector. Under Saudi Vision 2030, aerospace and defense sector is one the high priority for the kingdom. Saudi Arabia is the largest military expenditure of total government expenditure in Middle East. In 2021, Saudi Arabia is the 6th largest defense spender across the globe.

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Saudi Arabia defense and aerospace market is driven by the increasing spending on the non-oil sectors and growing government focus towards expansion of defense and aerospace sector. Moreover, the Saudi government is diversifying its economy to reduce oil dependency and expand other industries is further boosting the aerospace and defense market in Saudi Arabia. Saudi Arabia defense spending has been growing in past years because of the war in Yemen. The government planned to expand its domestic industrial base for defense hardware. Under Saudi Vision 2030, the government also planned to localize 50% of its military spending under military bodies i.e., General Authority for Military Industries and Saudi Arabian Military Industries by 2030. For instance, Saudi Arabian Military Industries signed an agreement with BAE systems to boost the defense industry in Saudi Arabia in 2022. These factors will drive the Saudi Arabia defense industry.

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Saudi Arabia aerospace market is driven by the growing domestic production of aerospace grade materials, rising R&D innovation  and increasing supply chain in aerospace sector. Saudi Arabia is locally producing certified aerospace-grade materials such as Aluminum, Titanium and carbon fiber composites across commercial aviation applications. In 2019, Aeroxchange, US based aviation e-commerce firm signed an agreement with Saudia Aerospace Engineering Industries to improve asset optimisation and to increase supply chain transparency.  Saudia Aerospace Engineering Industries provides maintenance support to Saudi Arabia airlines and is the largest services provider across the Middle East.

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Key questions answered in this research report:

• • At what pace is Saudi Arabia Aerospace and Defense Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Saudi Arabia Aerospace and Defense Market? What will be the impact of drivers and restraints in the future?
  • What are the various areas of Saudi Arabia Aerospace and Defense Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

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