WDS 2022: SAMI claims key milestones and significant growth
The fifth and final Avante 2200 corvette for the Royal Saudi Naval Forces was launched in December 2021. (Photo: Navantia)
Sales soared and the order book grew in 2021 for SAMI.
Saudi Arabian Military Industries (SAMI) has highlighted ‘significant growth’ in military programmes over the past year, claiming ‘key milestones in terms of growth and expansion’ as it seeks to deliver goals for the defence industry under the wider Vision 2030 economic modernisation programme.
In a statement released on 6 March during the opening day of the World Defense Show 2022 in Riyadh, SAMI noted the completion of the Al-Sarawat programme to build five new Avante 2200 corvettes for the Royal Saudi Naval Forces.
The final corvette, Unayzah, was launched in Spain by Navantia on 5 December 2021. SAMI and Navantia set up a JV in November 2018 for the Al-Sarawat programme.
SAMI in 2021 also secured SAR7 billion ($1.87 billion) in debt and grew its employee base by 633% to reach 2,500 staff. Business acquisitions included Advanced Electronics Company to establish SAMI Advanced Electronics, and the group also launched SAMI Composites.
Annual revenue soared by 2,407% to reach SAR2.6 billion. SAMI also reported an order backlog of more than SAR10 billion with a localisation commitment of 57.7% approved by the Saudi defence industry regulator GAMI.
SAMI was established in 2017 with a mandate to help localise 50% of Saudi defence spending by 2030.
More from Defence Notes
-
![Malaysia’s defence budget sets out major procurement goals for 2026]()
Malaysia’s defence budget sets out major procurement goals for 2026
The country has allocated RM21.70 billion for defence spending next year, with some major procurements set to be initiated across the country’s army, navy and air force.
-
![GAO highlights the need for more commercial data and availability improvements]()
GAO highlights the need for more commercial data and availability improvements
The US Government Accountability Office recently released two reports; one into the availability of selected equipment and another looking at how the government gets data and intellectual property rights through contracting.
-
![How Canada plans to “seize” the opportunity to increase investments in defence]()
How Canada plans to “seize” the opportunity to increase investments in defence
The Canadian Department of National Defence has been increasing efforts to accelerate the acquisition of new equipment and modernise its in-service inventory.
-
![Palantir and Boeing partner up to bring AI to defence manufacturing]()
Palantir and Boeing partner up to bring AI to defence manufacturing
The partnership with the US airframer will see Palantir’s AI software leveraged to help streamline data analytics across Boeing’s 12 factories on defence and classified programmes.
-
![DroneShield to double its US footprint to meet growing demand for counter-UxS capabilities]()
DroneShield to double its US footprint to meet growing demand for counter-UxS capabilities
DroneShield disclosed to Shephard its plans to increase its workforce and manufacturing capacities while strengthening partnerships with US suppliers.
-
![Singapore’s DSTA seeks wider partnerships to advance robotics and AI capabilities]()
Singapore’s DSTA seeks wider partnerships to advance robotics and AI capabilities
The technology organisation is expecting a significant rise in the number of staff working across robotics and digital solutions as it becomes more of a focal point.
