Baykar, TUSAŞ among world’s top 50 aviation companies

ISTANBUL

Baykar and state-owned aerospace and defense company TUSAŞ have been named among the world’s top 50 aviation companies based on 2023 sales.

TUSAŞ ranked 38th with $2.67 billion in sales, while Baykar debuted in 49th place with $1.8 billion in sales on the list.

Counterpoint Market Intelligence gathers information from companies’ annual reports and publicly available documents to compile data on the global aviation industry for FlightGlobal.

Drone maker Baykar made it to the list for the first time.

Baykar owns the title of the largest exporter of unmanned combat aerial vehicles in the world with its TB2 drones. It was also the largest exporter in the Turkish defense and aerospace sector for three consecutive years from 2021 to 2023.

In recent years, Baykar has generated more than 90 percent of its revenue from exports, with 97.5 percent of its current contracts aimed at exports.

Having signed export agreements with 35 countries for Bayraktar TB2 and Bayraktar AKINCI, Baykar is developing Bayraktar TB3 and Bayraktar KIZILELMA platforms with these revenues.

TUSAŞ continues to develop key aerospace platforms such as ANKA III, HÜRJET, and the National Combat Aircraft KAAN.

Boeing topped the list with $77.8 billion in sales in 2023, followed by Airbus with $70.8 billion.

Defense companies RTX and Lockheed Martin ranked third and fourth with $68.9 billion and $67.6 billion in sales, respectively.

Northrop Grumman placed fifth in the list with $39.3 billion in sales, while SpaceX ranked 28th with sales amounting to $4.54 billion.