Yes, it makes perfect sense. SAMI, GAMI and many other local defense companies are experiencing a boom and critical breakthroughs in numerous technologies (missile, drone, semiconductors, turbines, engines etc.) and the scale of industrialization in KSA in terms of critical industries is massive outside of the weapons industry. Not to mention that KSA is one of the most blessed countries in terms of natural and mineral wealth, most critical minerals are found within KSA, even uranium (5-10% of all uranium is in KSA - the Chinese are already helping KSA since 4-5 years to extract it and use it). As are the investments. KSA already has the best ranked universities in the Muslim World and each year they get 10.000's of new local STEM graduates as well as foreign coming to KSA for work/study as well as those local students studying abroad in the West.
It is just a question of time and not if, KSA becomes largely self-sufficient on most critical fronts in terms of a weapons industry.
Arabs were already the main vehicle during the Islamic Golden Age that lasted for 500 years and almost ended 1000 years ago, as well as a rich and ancient civilization, so I have no doubt that they can excel again.
We see Arabs excelling in the US and West. You would be surprised to see the amount of Arabs working for Western defense firms in France, UK, USA and even nowadays Germany. Similar story with Pakistanis. Unlike Pakistan, the Arabs have unlimited money and political will to reach their goals eventually.
And the good thing with KSA, unlike UAE (which is normal given UAE's small population) is that most of the progress is done by local hands, not hired foreigners.
Anyway we will see, this is one of many good steps in recent times.
As people can see in this thread, they are "cooking" a lot of dishes lately and I love to see it.
General Dynamics turns the tables on Biden with a giant aircraft engine factory inside Saudi Arabia
defence.pk