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)
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
-
Pentagon’s FY26 defence budget proposal is $130 billion more than US Congress plans to provide
The House Committee on Appropriations approved a FY2026 bill reducing investments in main defence programmes.
-
What role could holographic and 3D capabilities play in the warfare of tomorrow
Holographic and 3D technologies have been lauded by some for their ability to provide technical and operational advantages for military training and planning. But is the hype truly justified?
-
Unfolding the Golden Dome for America: Seven things you should know about the programme
Shephard talked to multiple experts about the most pressing concerns and considerations regarding the air defence system advocated by President Trump.
-
Industry welcomes UK Strategic Defence Review, but pressure remains on future defence investment plans
While industry reception to the SDR has been positive, questions still remain from analyst and trade associations about what this could mean for future investment and the future UK Defence Industrial Strategy.