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Saudi Arabia’s World Defense Show to Feature Industry Giants

Saudi Arabia is preparing to host the World Defense Exhibition - the most important global event in the field of defense and security. (Photo: SPA)
Saudi Arabia is preparing to host the World Defense Exhibition - the most important global event in the field of defense and security. (Photo: SPA)
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Saudi Arabia’s World Defense Show to Feature Industry Giants

Saudi Arabia is preparing to host the World Defense Exhibition - the most important global event in the field of defense and security. (Photo: SPA)
Saudi Arabia is preparing to host the World Defense Exhibition - the most important global event in the field of defense and security. (Photo: SPA)

Under the patronage of King Salman bin Abdulaziz, Saudi Arabia is preparing to host the World Defense Exhibition - the most important global event in the field of defense and security - in the presence and participation of the giants of the aviation, security and defense industries from 37 countries.

The event has officially sold out all exhibition space and is ready to open its doors from March 6-9.

Organized by the Kingdom’s General Authority for Military Industries (GAMI) and supported by its partner, Saudi Arabian Military Industries (SAMI), the World Defense Show is the global stage for defense interoperability across five domains: land, air, sea, space and security.

Experts told Asharq Al-Awsat that the event was a great opportunity for investors from around the world to conclude partnerships, transfer technology and develop local competencies, with the aim to support the goals of the Kingdom’s vision to localize more than 50 percent of its military spending by 2030.

Building Alliances

Ahmed Al-Jubeir, an economic expert, told Asharq Al-Awsat that the World Defense Exhibition was a great opportunity for companies and investors to build alliances and come up with investments of international quality, with modern technologies that keep pace with the Kingdom’s future aspirations.

He added that the presence of international companies would help reproduce international experiences in the sector to achieve the country’s goals, invest in advanced military industry, localize the companies and transform the Kingdom into a leader in modern military industries.

Al-Jubeir emphasized the exhibition would support Saudi Arabia’s non-oil economy and contribute to the achievement of the goals of Saudi Vision 2030.

The Riyadh Forum

A day before the launch of the exhibition, the International Institute for Strategic Studies will organize the “Riyadh Defense Forum” as a preparatory event, where it will host an elite of military and political figures from around the world to discuss the latest sector trends that will shape the future of defense and security.
The forum will be followed by the Riyadh Salute event, where international military aircraft will fly over Riyadh to perform an amazing air show.

The World Defense Show will kick off on March 6 with an opening ceremony featuring live demonstrations of defense and security interoperability capabilities in all areas, attended by thousands of visitors and hundreds of industry giants including Lockheed Martin, Boeing, General Dynamics, Navantia, BAE Systems, L3 Harris and Norinco.

More than 450 companies from around 37 countries will participate in displaying the latest industry technologies across land, sea, air, space and information security, in an ideal environment for networking and innovation.

Participants

The Kingdom will showcase its local capabilities in the security and defense industries, through the Saudi pavilion, with the wide participation of military and governmental authorities and local companies. Those will include the Ministry of Defense - the main partner of the exhibition, along with the ministries of Interior and National Guard, the Presidency of State Security, the General Authority for Military Industries and a number of other agencies.

Strategic Partner

A large number of national companies will participate in the event, including the Saudi Military Industries Company (SAMI) - the strategic partner of the exhibition, which will provide great opportunities to communicate with investors from around the world in order to establish partnerships, transfer technology and develop local competencies.

Defense Market

“The industry response has been overwhelming. It reveals major confidence from the global industry in the Kingdom’s defense market,” said Andrew Pearcey, CEO at World Defense Show.
He added that the first edition would be an ideal opportunity for industry leaders from around the world to learn about the industry system in Saudi Arabia and its strategic directions, and to meet the main partners through specially designed communication programs to stimulate partnerships and deals between buyers and suppliers at all levels in the supply chain.

Registration to attend the exhibition is available for defense and security professionals through the World Defense Exhibition website. All international participants who are issued permits will obtain a free multiple-entry visa to the Kingdom, valid for one year, with the aim of advancing the defense and security industry in the country.

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Business

US Consumers to Bargain Hunt in Annual ‘Black Friday’ Spree

A family eats lunch near a store advertising a Black Friday sale at the Pentagon City Mall in Arlington, Virginia, on November 22, 2023. (AFP)
A family eats lunch near a store advertising a Black Friday sale at the Pentagon City Mall in Arlington, Virginia, on November 22, 2023. (AFP)
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US Consumers to Bargain Hunt in Annual ‘Black Friday’ Spree

A family eats lunch near a store advertising a Black Friday sale at the Pentagon City Mall in Arlington, Virginia, on November 22, 2023. (AFP)
A family eats lunch near a store advertising a Black Friday sale at the Pentagon City Mall in Arlington, Virginia, on November 22, 2023. (AFP)

US shoppers are coming out in force this holiday season, but the festiveness is being tempered by inflationary pressures that have abated but not completely faded.

After the sticker shock during the latter stages of the pandemic, a familiar frustration has settled in towards consumer prices that remain broadly elevated even if they have stopped rising rapidly.

Americans are "ready to open their wallets this holiday season," said the Conference Board ahead of Black Friday -- the day after Thanksgiving, which this year, falls on November 28 -- that traditionally sees US stores kick off the Christmas shopping season with steep discounts.

"US consumers plan to spend more than last year, but inflation reduces how far their dollars can go."

In this environment, nobody expects to pay the full price for items.

"Holiday shoppers are likely to increase their budgets this year versus last year but remain selective and are looking for discounts," said a note from Morgan Stanley.

The investment bank's survey found that 35 percent planned to spend more this holiday season. But nearly two-thirds would skip a purchase if an item is not adequately discounted, meaning a price cut of more than 20 percent.

"It's gonna be a good year, but I don't think that growth is going to be spectacular because consumers are still under pressure," predicted Neil Saunders of GlobalData.

Inflation remains above the Federal Reserve's two percent long-term target, rising in October to 2.6 percent on an annual basis from 2.4 percent in September. But that's significantly below the peak level of 9.1 percent in June 2022.

Other recent economic data has been solid. Unemployment remains low at 4.1 percent, while a preliminary GDP reading for the third quarter came in at 2.8 percent.

But Joe Biden's presidency coincided with about a 20 percent rise in consumer prices as Covid-19 pandemic lockdowns gave way to supply chain bottlenecks.

That inflation played a central role in the 2024 US presidential election, with Republican Donald Trump defeating Biden's appointed Democratic successor, Vice President Kamala Harris.

"There is still a perception among consumers that things are quite difficult," Saunders said. "So people are being quite cautious and careful in their spending."

- Tariff hit? -

How Trump's looming presidency will affect inflation remains to be seen. Industry groups have warned that tariffs favored by the Republican could reignite pricing pressures.

The National Retail Federation projected that a Trump tariff proposal floated during the campaign would dent US consumer budgets by as much as $78 billion annually.

But while tough potential trade actions are already preoccupying Washington trade groups, tariffs are not on consumer radars for the 2024 season, according to Saunders.

One challenge this year will be the shortness of the season.

Black Friday falls at the latest possible date on November 29, shortening the stretch between Turkey Day and Christmas on December 25.

But the impact of that dynamic on 2024 sales should not be overstated. Retailers in recent years have pulled the holiday shopping season ahead, with some vendors launching online "Black Friday" promotions as early as October.

Among the companies that have already begun discounts: the big-box chains Walmart and Target, electronics giant Best Buy and home-improvement retailer Home Depot.

Amazon officially launched "Black Friday Week" on Thursday.

NRF has projected holiday spending growth of between 2.5 and 3.5 percent in the 2024 season compared with the year-ago period, to as much as $989 billion over the two-month period.

Economists with the trade group have pointed to an easing of gasoline prices as a supportive factor.

Online sales are projected to grow as much as nine percent this season, extending a long-term trend. Black Friday itself has become a big occasion for online shopping, along with "Cyber Monday" three days later.

"Over time, we've moved from a period where it was just Black Friday, and maybe a little of the weekend, to it being a period of discounting that starts very early," said Saunders. "It's seasonal discounts."

There has been a diminishment of "doorbuster" sales that are known to draw hordes of waiting crowds, sometimes resulting in injury or worse.

Instead, increasing numbers of consumers are spreading out their purchases or opting to click through Black Friday promotions at home.