The World Defense Exhibition (IDEX), organized by the Saudi General Authority for Military Industries, has stolen the spotlight in his First edition held in KSA capital, Riyadh, at the beginning of March 2022.
It is in line with the vision of national transformation experienced by Saudi Arabia, according to the Saudi Vision 2030, which focuses on the importance of localizing military industries, so the defense exhibition has gained great interest as a driving force for the Saudi national investment and industry domestically and on a global scale.
When Saudi’s Vision 2030 was first launched, Saudi Arabia ranked third in military spending globally for 2015, which left the military industries at the forefront of the kingdom’s national transformation.
Crown Prince MBS(Mohammed bin Salman) also stressed, “The Kingdom is focused on raising the quality of local production in the military and automotive industries,” therefore reducing military spending and reaching localization of military industries by more than 50% in 2030.
This shows that the IDEX held in Riyadh, was unique, and it has been considered as a huge leap forward and an important step towards realizing the Saudi Vision 2030.
It also represents a shifting point for the military industries in the kingdom, as it creates new opportunities throughout every level of the supply chain and global markets.
Saudi Arabia has a highly-respected political and military standing as a stabilizing agent in the region and it has a long legacy of military presence and action aimed at protecting the security and stability of the region.
Currently, Saudi Arabia leads the Arab Alliance efforts to Support the Legitimate governorate in Yemen, in addition to leading the Islamic Coalition in the fight against terrorism.
Given its military achievements, the world considers the kingdom as a cornerstone for the region’s stability and an indispensable partner in the efforts to maintain international peace and security.
These military achievements were reflected in the Riyadh IDEX and made clear by the heavy participation of companies in the exhibition, as the Saudi defense sector is seen among many major companies as one of the most attractive investment opportunities in the global defense market.
This will only increase cooperation opportunities between local defense companies based in the kingdom and major international companies.
Given the significant and positive implications of the World Defense Exhibition on Saudi Arabia’s Vision 2030, which is transforming the kingdom from an importer to a producer of defense systems, the IDEX signifies an important turning point in the global military industry and facilitation of international investments and partnerships in the military industry.
With more than 450 companies from 37 countries participating, this exhibition promotes international cooperation, providing international and domestic defense pioneers with the right opportunity to explore cooperation in the military industry.