Saudi Arabia Bolsters Military with $78 Billion Budget and Strategic Alliances

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Thus, according to different sources, Saudi Arabia’s military expenditure has been rising at an average of 4.5 % every year since 1960. defence expenditure for the year 2024 has been evaluated at US 75.8 billion which is 3.1 percent of the global total.

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Saudi Arabia, one of the most influential countries of the Middle East is actively developing its Armed Forces system. The country’s defense budget spending has risen and has intentions of rising in the days to come. The Kingdom of Saudi Arabia wants to achieve at least 50% of its total military-related investment in the country to support the growth of the domestic defense industry by the year 2030. This was according to Ahmed bin Abdulaziz Al-Ohali, Governor of GAMI (General Authority for Military Industries), while delivering a speech during the Global Strategies in Defense and Aerospace Industry Conference held in Antalya, Turkey.

It has been observed that, on an average, the annual military expenditure of Saudi Arabia has been rising at 4.5 per cent since 1960, as per the Firstpost report. According to the information, the primary defence spending attained USD 75.8 billion in 2024, and the country allocated 3.1 % of the global defence expenditure, as in the current world spending of 2.44 trillion. Saudi Arabia has allocated USD 78 billion for defense spending in the current year out of which 21 per cent is its total government spending and 7.19 per cent of its gross domestic product.

According to the defense analysts, Saudi Arabia is gradually raising its defence budget to remain as the superpower in Middle East and in the Muslim world as a counter to the growing radical powers of Turkey and Iran.

Saudi Arabia’s Vision 2030
By far the Middle Eastern country that is IQ on its Vision 2030, better known as a dream project of Crown Prince Mohammed bin Salman. The intention of undertaking this effort is to enhance the non-oil export status of the nation so as to transform it into a more sustainable economy. Currently, the General Authority for Military Industries (GAMI) led by it governor Ahmed bin Abdulaziz Al-Ohali is also working on positioning its strategies from the Vision 2030 to build a robust military industry system.

In order to encourage foreign and domestic investors to invest in the defense sector, GAMI has taken its certain measures. It has generated 74 supply chain prospects in the military sector and is also helpful to SMEs in the defense technology domain across the national and global stratum.

Albeit, Al-Ohali explained that Saudi Arabia is determined to develop stable military-industrial complex as it has both military importance and potential for the economy. Furthermore, it means that through developing its defense sector, Saudi Arabia contributes to its diversification, global power and sustainable development.