Defense stocks at record highs on Trump-Saudi deal

Donald Trump said 'there won't be any strain with this administration'

U.S. President Donald Trump and Secretary of State Rex Tillerson were joined by King Salman bin Abdul-Aziz Al Saud, Crown Prince Mohammed bin Naif Al Saud and Deputy Crown Prince Mohammad bin Salman Al Saud at a signing ceremony that included Boeing products and services. The center is a joint venture with Alsalam Aerospace Industries, Saudi Aerospace Engineering Industries and Boeing. These programs will positively impact Saudi and US economies including job creation.

Lockheed Martin has secured a major contract with the Kingdom of Saudi Arabia.

Border Security and Counter Terrorism: Capabilities such as aerostats, tanks, artillery, counter-mortar radars, armored personnel carriers, helicopters, and associated training that will enable Saudi Arabia to secure its borders against terrorist and other threats.

The goal of the package, according to State, is to significantly expand the more than seven-decade long security relationship between the United States and the Kingdom of Saudi Arabia, by supporting the Kingdom's defense needs and the "long-term security of Saudi Arabia and the Gulf region in the face of malign Iranian influence and Iranian related threats". In addition, the kingdom intends to purchase P-8 maritime, patrol and reconnaissance aircraft, Boeing said in a statement.

Also, Boeing has agreed to form a joint venture with the kingdom to provide sustainment services for a wide range of military platforms.

Meanwhile, Boeing also captured a significant portion of the deal, although the company did not list a dollar value for its share of the spoils.

- An agreement between Boeing and SaudiGulf Airlines to negotiate the sale of up to 16 widebody airplanes. A separate joint venture would "provide support for both military and commercial helicopters". Raytheon will establish a new business unit in partnership with Saudi Arabia Military Industries.

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