“Saudi Arabia Soars: A Top Contender in Global Military Spending for 2023”
A recent study conducted by the Stockholm International Peace Research Institute (SIPRI) has positioned Saudi Arabia amongst the globe’s top five defense investors in 2023, alongside the United States, China, Russia, and India.
As per the institute, these nations collectively represented 61% of the worldwide military expenditure during the same period.
The statistics revealed a 4.3% rise in Saudi Arabia’s defense investments, climbing to $75.8 billion, which constitutes 7.1% of the nation’s GDP. This surge elevated the Kingdom’s share of global defense expenditure to 3.1%, establishing it as the leading spender in the Arab region.
The rise in expenditure was not the sole significant advancement. Saudi Arabia has also launched an ambitious initiative to foster its domestic military industries over the past five years. This initiative necessitated considerable investments aimed at promoting the Kingdom’s self-sufficiency in defense and diminishing its reliance on foreign suppliers.
On the international collaboration front, the US State Department greenlit the transfer of $582 million in weaponry to Saudi Arabia in early December 2023. This transaction encompassed hardware and software for the Saudi RE-3A surveillance aircraft, along with a $1 billion military training initiative that received approval later that month.
Further enhancing this collaboration, France and Saudi Arabia formalized a cooperation plan in the military sector in December 2023. The Kingdom had previously engaged in a foundational agreement to construct warships domestically with the French Naval Group in 2019.
These advancements highlight Saudi Arabia’s steadfast dedication to strengthening its defense capabilities amid escalating regional security threats. The Kingdom’s development initiatives and international partnerships reflect its ambition to create a robust military industry, ensuring its enduring security and stability.
