Deals could support thousands of jobs in the US and Saudi Arabia
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Saudi Arabia has expressed its intent to procure more than $28bn-worth of Lockheed Martin integrated air and missile defence, combat ship, tactical aircraft and rotary wing technologies and programmes.
The deals, along with many others signed on 20 May, is seen as a major step towards enhancing global security and stimulating economic progress in the US and the Middle East.
They account for more than a quarter of the total defence deals that have been signed during US President Donald Trumps visit to the kingdom.
Our broad portfolio of advanced global security products and technologies will enhance national security in Saudi Arabia and provide the foundation for job creation and economic prosperity, Lockheed Martin president and CEO Marillyn Hewson, said in a statement.
Deals between the Saudi government and Lockheed Martin that were announced include:
- Letters of offer and acceptance and a memorandum of intent covering government-to-government sales of Lockheed Martin programmes to include integrated air and missile defence systems, multi-mission surface combatant ships, radar systems, surveillance systems, tactical aircraft and rotary wing programmes
- A letter of intent between Lockheed Martin and Taqnia to form a joint venture to support final assembly and completion of an estimated 150 S-70 Black Hawk utility helicopters for the Saudi government. The programme supports work for more than 450 US jobs including in Connecticut at Sikorsky and throughout the US supply chain and also supports Saudi Arabias Vision 2030 by creating an additional 450 jobs in the kingdom, developing local capabilities through technology and skills transfer
- A memorandum of understanding between Lockheed Martin and Saudi Arabian Military Industries for the parties to work together to build defense capabilities in Saudi Arabia to support Vision 2030 and provide for localisation efforts associated with Lockheed Martins multi-mission surface combatants (MMSC) and aerostats
According to Lockheed Martin, these deals, once realised, could support more than 18,000 highly skilled jobs in the US and thousands of jobs in Saudi Arabia.
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