Defense exports already hit a record $5.8 billion this year

Defense exports already hit a record $5.8 billion this year

ISTANBUL
Defense exports already hit a record $5.8 billion this year

The Turkish defense and aviation industry’s export revenue already hit an all-time high of $5.76 billion in the first 11 months of 2024, marking a 19 percent increase from the same period of 2023.

The 12-month trailing exports of Turkish defense companies surged 18.4 percent to $6.5 billion as of November.

Last month, the industry’s exports leaped 32.3 percent annually to $637.2 million.

“With our large and dynamic ecosystem, with our systems that have proven themselves in the field, and our ever-growing export potential, we are showing the world that Türkiye is now an important player in the industry,” said Haluk Görgün, head of the Defense Industry Agency.

Turkish defense companies exported their products to a record number of 178 countries in 2024, according to Görgün.

“In the coming period, the agency will continue its international activities that embrace both large-scale companies and SMEs, increase the number of exporting companies, and make exports the anchor of sustainability for the entire sector,” he said.

ASELSAN, Baykar, and TUSAŞ ranked among the world’s top 100 arms-producing and military services companies in 2023, according to a report unveiled earlier this week by the Stockholm International Peace Research Institute (SIPRI).

The three Turkish companies had combined arms revenues of $6 billion in 2023, a year-on-year increase of 24 percent.

Last year, the Turkish defense and aviation sector’s exports climbed to a record $5.55 billion.