Defense sector’s exports climb to $5.6 billion last year

ISTANBUL

The Turkish defense and aerospace industry’s exports climbed to an all-time high of $5.55 billion last year.

The industry’s export revenues increased by 27 percent in 2023 from 2022, capturing a 2.3 percent share in Türkiye’s total exports last year.

In 2023, the country’s exports hit a record $255.8 billion, rising from $254.2 billion in 2022.

In December alone, defense exports rose more than 11 percent year-on-year to $719 million, which marked the highest monthly figure last year, according to the data from the Türkiye Exporters’ Assembly (TİM), which revealed the numbers for 2023 on Jan. 2.

The local defense and aerospace industry’s exports stood at only $248 billion, surpassing the $1 billion mark in 2011 for the first time, and climbing above $2 billion in 2018. The $3 billion mark in export revenues was surpassed in 2019.

According to the latest numbers from the Defense Industry Agency (SSB), the industry’s total turnover climbed from $1.1 billion in 2002 to $12.2 billion in 2022.

The number of projects carried out by Turkish companies soared from 62 in 2002 to more than 850 in 2023.

With a combined arms revenue of $5.5 billion, four Turkish companies, namely Aselsan, Baykar, Turkish Aerospace Industries and Roketsan, made it to the Stockholm International Peace Research Institute’s (SIPRI) Top 100 list for 2022, which was unveiled in December 2023.

Baykar (ranked 76th) and Roketsan (ranked 100th) entered the Top 100 for the first time.

Aselsan ranked 60th on the list, with arms revenues totaling more than $2 billion. The company’s total revenues were $2.13 billion.

Meanwhile, Aselsan said on Jan. 2 that an international sales contract valued at $58.9 million was signed between Aselsan and one of its international clients through Aselsan's foreign subsidiary for the supply of intelligent transportation systems.