Lockheed Martin Signs Contracts
with Saudi Arabia Worth $28 Billion
Lockheed Martin Corporation signed $28 billion worth of deals with Saudi Arabia to provide integrated air and missile defense improvements, littoral combat ships, helicopters, and more. Lockheed Martin signed a letter of intent with TAQNIA to form a joint venture that will assemble 150 Black Hawk helicopters for $6 billion in the Kingdom. The company also signed a memorandum of understanding with the newly established Saudi Arabian Military Industries (SAMI). Under the agreement, Lockheed Martin will help strengthen Saudi defense capabilities and transfer technology for Vision 2030 localization requirements.