Turkish defense companies sign deals with Saudi firms
ISTANBUL
Turkish defense companies Baykar, Aselsan and Roketsan have signed agreements with Saudi Arabian firms.
Drone maker Baykar inked an agreement with state-owned Saudi Arabian Military Industries (SAMI) for the local production of unmanned aerial vehicles in Saudi Arabia.
The strategic localization agreement is a continuation of the acquisition contracts signed by the kingdom’s ministry with Baykar, aiming to enhance the readiness of the armed forces and bolster the Kingdom's defense and manufacturing capabilities, SAMI said.
In July, Saudi Arabia agreed to buy drones from Baykar in the biggest defense and aerospace contract in Türkiye’s history. The deal was signed during President Recep Tayyip Erdoğan’s visit to the kingdom.
Moreover, Aselsan, Türkiye’s largest defense firm and the National Company for Mechanical Systems (NCMS) signed a memorandum of understanding on electro-optical systems and guidance kit technologies.
Roketsan, which produces missiles and rockets, also inked a memorandum of understanding on smart munitions and guidance kit technologies with NCMS.
The Turkish defense and aeronautics sector’s export revenues climbed to a record $4.4 billion last year.
In the first seven months of 2023, exports rose 35 percent from a year ago to more than $3 billion, capturing a 2.4 percent share in the country’s total export revenues.
The industry’s export revenues were only $248 million in 2002, breaching the $1 billion-mark in 2011 for the first time.
Türkiye has been investing heavily in the defense sector to become self-reliant.
The number of projects carried out by local firms rose from 62 in 2002 to more than 750 in 2022 with the size of those projects increased from $5.5 billion to $60 billion.
