Saudi Arabia is poised to reveal an impressive array of investment opportunities exceeding $100 billion in its quest to further uplift its aviation sector. This ambitious initiative is set to be unveiled at the Future Aviation Forum (FAF24) and promises to capture the attention of global investors and aviation experts.
Unveiling New Horizons in Aviation
Among the significant opportunities, the Kingdom plans to announce new aircraft orders valued at approximately $40 billion and a range of “other projects” worth around $10 billion. Part of this investment will target specialized logistics areas at the airports in Riyadh, Jeddah, and Dammam. This is a clear testament to Saudi Arabia’s commitment to enhancing its infrastructure and logistics capabilities.
The Saudi airports themselves are set to be a focal point with an additional $50 billion earmarked for further investment opportunities, all aligned with the Saudi Aviation Strategy (SAS). This strategy is a cornerstone of the Kingdom’s broader economic vision, aiming to transform its aviation landscape.
A Gathering of Global Leaders
Scheduled from May 20 to 22, the Future Aviation Forum will host a distinguished assembly of global executives from industry giants such as Boeing, Airbus, and Embraer, along with major airlines, airports, and investment groups. The event will showcase transformative projects, including the expansive King Salman International Airport in Riyadh, which features six runways, and public-private partnerships for international airports in Abha, Taif, Hail, and Qassim.
Opportunities within cargo and logistics, advanced air mobility, and business aviation sectors will also be highlighted, offering a comprehensive view of the Kingdom’s aviation future. Suppliers will gain insight into the expansion strategies of the new airline Riyadh Air, alongside established carriers Saudia, Flynas, and Flyadeal.
The Vision for 2030 and Beyond
Saudi Arabia’s aviation strategy is ambitiously designed to triple passenger numbers and establish connections to over 250 destinations. The goal is to accommodate 330 million passengers and handle 4.5 million tonnes of cargo by 2030, marking a pivotal shift in the Kingdom’s transportation capabilities.
Minister for Investment Khalid Al-Falih stated, Saudi Arabia is the world’s new investment hub, targeting $3.3 trillion in investments by 2030. Aviation is a key investment sector and enabler of the kingdom’s broader economic transformation.
This bold vision positions Saudi Arabia as a central player in the global investment landscape, inviting investors worldwide to partake in this transformative journey.
