Raytheon and the state-owned Saudi Arabia Military Industries Company have signed a memorandum of understanding to collaborate on defense projects and technology development efforts.
The agreement will build on Raytheon’s growth plans in global market areas such as air defense systems, smart munitions, C4I systems and cybersecurity of defense systems, the U.S. defense contractor said Saturday.
Under the MoU, Raytheon will also establish a Saudi Arabia-based business unit that will focus on programs to produce indigenous defense, aerospace and security platforms in the Middle Eastern country.
Raytheon Arabia will be headquartered in Riyadh and offer in-country program management, supply and sourcing services.
President Donald Trump and Saudi Arabian King Salman bin Abdulaziz Al Saud witnessed the signing of the MoU between executives of Raytheon and Saudi Arabia Military Industries Company at a ceremony held Saturday.
On the same day, Trump and Salman reached a $110 billion weapons sales deal that will support joint security and economic development initiatives of the U.S. and Saudi Arabia.