.){kind=link}
Three Turkish defense contractors significantly improved their revenue, by 24 percent, in arms sales among the world’s top 100 arms manufacturers in 2023, according to the latest report from the Stockholm International Peace Research Institute (SIPRI).
The combined revenue of Turkish defense contractors Aselsan, Baykar and Turkish Aerospace Industries (TUSAŞ) reached $6 billion in 2023, marking a 24 percent increase from the previous year, amid expanding domestic and international market presence.
In a notable advancement Baykar, known for its unmanned aerial vehicle (UAV) systems, rose from 79th place in 2022 to rank 69th in 2023. The company reported revenues of $1.9 billion, representing a 25 percent year-over-year increase. Significantly, 90 percent of Baykar’s revenue stemmed from international sales, with the report highlighting substantial exports to Ukraine and other countries supporting Ukraine’s defense capabilities.
President Recep Tayyip Erdoğan’s son-in-law Selçuk Bayraktar is the chairman of Baykar. Erdoğan personally promotes the drones manufactured by Baykar in the countries he visits.
Turkish Aerospace Industries (TUSAŞ) demonstrated the most substantial growth rate among Turkish firms, climbing from 88th place in 2022 to 78th in 2023, marking a 45 percent revenue increase. The company generated $1.7 billion in sales, with 31 percent derived from international markets.
Aselsan, Turkey’s largest defense electronics manufacturer, maintained its position near the middle of the rankings, moving from 56th to 54th place and reporting 12 percent revenue growth to $2.4 billion. The company’s revenue primarily originated from domestic sales to the Turkish security forces.
The SIPRI report emphasizes Turkey’s long-term strategic objective of achieving self-sufficiency in defense manufacturing. The growth in arms sales by Turkish companies is attributed to both increased domestic demand and the ongoing conflict in Ukraine, reflecting the expanding role of Turkish defense manufacturers in the international market.
This development underscores Turkey’s emerging position in the global defense industry, particularly in the unmanned aerial systems sector, where Turkish companies have established a significant international presence and demonstrated consistent year-over-year growth in global rankings.
Recent export data from the Turkish Statistical Institute (TurkStat) for November further validates this growth trajectory in the defense sector. According to Haluk Görgün, head of the Presidency of the Defense Industry (SSK), Turkey’s defense and aerospace exports showed remarkable growth, reaching $637.199 million in November 2023, marking a 32.3 percent increase compared to the same month in the previous year.
Görgün revealed on X that the cumulative defense exports for the first 11 months of 2024 reached $5.761 billion, representing a 19.4 percent increase compared to the same period in the previous year. The rolling 12-month export figure rose to $6.479 billion, showing an 18.4 percent year-over-year increase.
Notably, Turkish defense companies have expanded their global reach significantly, with exports to 178 different countries in 2024. “We are taking strong and confident steps towards our sustainable export targets,” Görgün said, emphasizing the commitment to ensuring a permanent increase in high value-added defense industry products.
The SIPRI Arms Industry Database was created in 1989. At that time, it excluded data for companies in China, the Soviet Union and countries in Eastern Europe. The data set has been updated over the years. The current version includes data for Russian companies from 2002 onwards and for some Chinese companies since 2015.