SAMI ranked among top 100 defense firms after 2,898% hike in revenue

RIYADH: The Saudi Arabian Military Industries has made it to the list of the 100 largest defense companies for the year 2022, according to Defense News rating.

SAMI, ranked 98, has seen a massive 2,898 percent jump in revenue in 2021, compared to a year earlier. 

The state-owned firm’s revenue jumped from roughly $20 million in 2020 to $605 million in 2021.

The increase in revenue and the company’s global ranking follow its acquisition of the Advanced Electronics Co. in December 2020.