Riyadh is gearing up to host a landmark event in the aviation sector, the Future Aviation Forum, where it will reveal investment opportunities exceeding $100 billion. This initiative is part of the Saudi Aviation Strategy, aimed at expanding the nation’s aviation industry.
The forum will serve as a platform to showcase various projects and incentives designed to draw investment into the burgeoning aviation sector of the Kingdom. This includes enhancements to airports, airline services, ground operations, and the cargo and logistics sectors.
Of the $100 billion earmarked for investments, over half is dedicated to airport development, with new aircraft purchases making up approximately $40 billion. The balance will fund various other initiatives, including the creation of specialized logistics zones near major airports in Riyadh, Jeddah, and Dammam, valued at $5 billion.
The Transport and Logistics Services Minister, Saleh-Al-Jasser, set to inaugurate the forum, remarked, Saudi Arabia is presenting aviation investment opportunities that are unmatched globally, as the Saudi Aviation Strategy triples passenger numbers, connects to more than 250 destinations and handles 330 million passengers and 4.5 million tonnes of cargo by 2030.
Minister for Investment Khalid Al-Falih will launch the investment showcase, emphasizing Saudi Arabia’s position as a burgeoning global investment hub with an investment target of $3.3 trillion by 2030. He noted that the aviation sector is a crucial pillar in the Kingdom’s overarching economic progression and that the upcoming showcase will offer investors a unique chance to contribute to this transformation.
The event will feature briefings for investors, discussions, and meetings on significant projects like the six-runway King Salman International Airport in Riyadh, along with public-private partnership opportunities for several regional airports. It will also cover prospects in cargo and logistics, advanced air mobility, and business aviation. In addition, aviation suppliers will receive updates on expansion plans for the new airline Riyadh Air, as well as updates from established regional carriers such as Saudia, Flynas, and Flyadeal.
Notable attendees will include global executives from industry leaders like Boeing, Airbus, the Commercial Aircraft Corporation of China, and Embraer. The event will also host investors, airline representatives, airport authorities, and figures from the cargo, logistics, and aviation services sectors. The list of speakers features Saudi ministers alongside CEOs from both Saudi and global aviation and investment firms.
The Future Aviation Forum is scheduled from May 20-22 in Riyadh, promising to be a pivotal event for the aviation industry’s future.