Raytheon ties up with Saudi firm to expands sales in GCC

US-based arms makers Raytheon Company has entered into an agreement with Saudi Arabia’s Advanced Electronics Co (AEC) to expand its presence in the Gulf Cooperation Council’s defence and commercial market place.

The two companies will look to collaborate on weapon systems, integrated sensors, civil aviation and cybersecurity, Raytheon said in a statement.

Saudi Arabia spent $7.7 billion in 2014 on military equipment, a report in Reuters said, citing research company IHS.

“Raytheon and AEC already work together on manufacturing of components for the kingdom's program to buy F-15 fighter jets from Boeing. Saudi Arabia uses the Raytheon Patriot missile and air defence system, and was recently cleared to receive $5.4 billion in new PAC-3 missiles built by Lockheed,” the report said.

Raytheon has been expanding its cyber capacity over the recent past, and AEC spokesperson Khalid Turki told Reuters that the Riyadh-based company has also been exploring the cybersecurity market.