The second day of the Future Aviation Forum 2024, hosted by the General Authority of Civil Aviation (GACA) in Riyadh, witnessed the signing of a remarkable 102 memoranda of understanding (MoUs), agreements, and deals, with a total value exceeding SR75 billion ($20 billion). The forum brought together an impressive gathering of over 30 ministers, 77 leaders of civil aviation authorities, CEOs of airlines worldwide, and 7,000 aviation industry experts and leaders from more than 120 countries.

The event focused on a range of critical topics, including human capabilities, the future of the sector, collaboration opportunities, civil aviation organization networks, sustainability, innovation, technology, and business opportunities within the sector. The GACA took the opportunity to launch the first edition of the Kingdom’s aviation sector report, highlighting the sector’s significant contribution to the Kingdom’s economy, valued at $53 billion, and providing 958,000 jobs. The GACA also hosted the first aviation investment exhibition, aimed at facilitating investment in the Saudi aviation sector.

On the second day of the forum, the GACA signed numerous agreements for air transport services with various countries, including Kiribati, Grenada, Malawi, Romania, Belize, Sao Tome and Principe, Lithuania, El Salvador, Albania, and Uzbekistan. These agreements build upon those signed on the first day, which included countries like Mozambique, Eswatini, Cambodia, and Brunei Darussalam.

The Future Aviation Forum will conclude on Wednesday with its third day, continuing to present investment empowerment opportunities in the Saudi aviation sector, valued at $100 billion. The sessions will delve into discussions on growth, investment, airports, air connectivity, supply chain management, resilience, human capital, and sustainability, further solidifying the Kingdom’s position as a hub for aviation innovation and development.