Aselsan signs $35.5 million avionics deal

ISTANBUL

Turkish defense giant Aselsan has struck a $35.5 million avionics systems export deal, according to a statement issued to the Public Disclosure Platform (KAP) on May 20.

The statement did not identify the foreign company involved in the agreement.

Deliveries as part of the deal will be made next year, and in 2023, it said.

The deal will affect the company’s total turnover positively, it added.

According to U.S. magazine Defense News, leading Turkish defense systems producer Aselsan ranks 48th among its global competitors.

Aselsan made 1.2 billion Turkish Liras ($147 million) in profits in the first quarter of the year, some 34 percent more compared to the same period of 2020.

Turkey’s defense and aviation exports were around $3 billion last year. In terms of annual revenues, the country’s seven defense firms are among the top 100 defense firms globally.