Riyadh: Minister of Industry and Mineral Resources Bandar Alkhorayef has engaged in strategic discussions with Stefano Pontecorvo, the chairman of the board of directors of Leonardo, an Italian multinational specializing in aerospace, defense, and security, focusing on expanding their collaboration to include the localization of helicopter component manufacturing in Saudi Arabia. According to Saudi Press Agency, the meeting concentrated on localizing the manufacturing of helicopter components such as aircraft structures, propellers, fins, and electronic flight systems. This move is aligned with the Kingdom's Vision 2030, which seeks to diversify and enhance the national economy through strategic partnerships and technological advancements. Leonardo, with a robust presence in Saudi Arabia for over five decades, has been a key player in providing various platforms, systems, and services. The new initiative to localize manufacturing aims to bolster Saudi Arabia's job market, transfer critical technology, and d evelop a comprehensive domestic supply chain for the aviation sector. Further, this collaboration is expected to strengthen the Kingdom's capabilities in maintenance, repair, and overhaul (MRO) services, and manufacturing of spare parts for engines, drones, and navigation systems, enhancing the overall sustainability and self-reliance of the Saudi aviation industry. With the aviation sector projected to add SAR11.4 billion to the country's GDP by 2030, Alkhorayef's visit to Leonardo highlights a significant step towards achieving Saudi Arabia's ambitious economic and developmental goals.
