Marignane: Minister of Industry and Mineral Resources Bandar Alkhorayef on Monday inaugurated the Industry Day event held at the Airbus Helicopters facility in Marignane, France. The event brought together suppliers of Airbus Helicopters and Saudi aviation companies to explore cooperation opportunities in the aerospace industry and strengthen bilateral investment partnerships.
According to Saudi Press Agency, Alkhorayef emphasized that the aerospace sector is one of the Kingdom's most advanced industries, focusing on localization and development under the National Industrial Strategy. This initiative aligns with Saudi Vision 2030, aiming to diversify the national economy.
Alkhorayef outlined the Kingdom's ambition to accelerate aerospace localization and enhance its manufacturing capacity. He noted that achieving this requires several key factors, including the localization of advanced technologies, empowerment of the private sector, strengthened international partnerships, attraction of promising investments, and leveraging the Kingdom's strategic assets. These assets include its geographic location, competitive energy prices, abundant mineral resources, and young talent, all of which are crucial to transforming Saudi Arabia into a global aerospace hub.
In concluding his speech, Alkhorayef invited Airbus Helicopters and its supplier network to expand cooperation with the Kingdom to achieve the shared vision of building a sustainable and competitive aerospace ecosystem.
The Kingdom has identified several aerospace sub-sectors offering SAR10 billion in high-quality investment opportunities, such as airframe maintenance, component repair, and unmanned aerial vehicle (UAV) manufacturing. It aims to double its industrial gross domestic product (GDP) from $88 billion to $377 billion by 2035, as outlined in the National Industrial Strategy, which places advanced manufacturing, including aerospace, at the heart of its industrial transformation.
Alkhorayef's inauguration of the Industry Day event was part of his official visit to France, aimed at strengthening industrial and mining cooperation and exploring joint investment opportunities in promising sectors, with a focus on aerospace and food.