The weapons systems include the THAAD ballistic missile defense system, the anti-aircraft missile Patriot, 150 utility Blackhawk helicopters, and other systems and logistical support. In addition, the kingdom intends to purchase P-8 maritime, patrol and reconnaissance aircraft, Boeing said in a statement. The State Department in Washington announced plans last December to sell Chinook cargo helicopters to Saudi Arabia as well as related equipment, support and training for $3.5 billion. Looking at the history of 40 U.S. -Saudi Arabia arms deals going back to 2009, the iShares U.S. Aerospace & Defense ETF was up 3.3 percent a month later on average, nearly double the return of the S&P 500, CNBC reported.
Saudi Arabia is seeking closer defense and co mmercial ties with the United States under Trump, as it seeks to develop its e co nomy beyond oil and leads a co alition that is fighting a war in Yemen.
Boeing did not disclose the total value of the deals.
Boeing also said it would negotiate the sale of up to 16 widebody airplanes to Saudi Gulf Airlines, which is based in the country's east in Dammam.
Jet maker Boeing (BA) also signed a handful of deals with Saudi Arabia during Trump's weekend visit, involving the sale of military and passenger aircraft.
- A Letter of Intent, between Lockheed Martin and Taqnia, to form a joint venture to support final assembly and completion of an estimated 150 S-70 Black Hawk utility helicopters for the Saudi government.
In addition, Boeing said that the Saudi Rotorcraft Support Company - a joint venture between Boeing, Alsalam Aerospace Industries and Saudia Aerospace Engineering Industries - recently received a commercial registration certificate. "I appreciate the efforts of King Salman, President Trump and his administration to support American manufacturers as we seek to grow at home and around the world", Muilenburg added.