Turkish drone producer and global leader in the exports of uncrewed aerial vehicles (UAVs), Baykar, was crowned once again as the top company exporting the most in the domestic defense and aviation sector, according to a statement on Saturday.
Baykar achieved slightly over $1.8 billion in exports in 2024, according to the statement by the Presidency of Defense Industries (SSB), thus being positioned as the first among the top 10 exporters.
The company, which secured the same amount in exports a year prior to that, was also in the position of the leader in the sector in terms of shipments in 2023 as well, thus continuing its dominance and success.
With exports of $1.8 billion in 2024, Baykar earned 90% of its revenues from exports last year, the company said.
"Today, with $1.8 billion in exports in 2024, Baykar stands as the undisputed leader in the global UAV export market and a high-tech powerhouse, generating 90% of its revenue from exports," Haluk Bayraktar, the chief executive of Baykar said in a post on X.
"I extend my deepest gratitude to the entire Baykar family for their dedication to this success," he added.
Baykar, which realized one-third of the sector's exports in 2023, also accounted for one-fourth of the total exports of the defense and aviation sector in 2024, the data shared by the SSB revealed.
Turkish defense exports soared to a new record high of $7.15 billion last year, up nearly 30% compared to a year earlier.
The country's defense industry witnessed an upward momentum in outbound sales in recent years, having achieved $5.5 billion in exports in 2023, which was also a new record at the time.
Becoming one of the top players in the defense and aerospace sector in Türkiye, Baykar has gained significant attention and popularity in recent years. Its Bayraktar TB2 combat drones gained prominence globally after being used by Ukraine's military against Russian forces as well as in campaigns in Azerbaijan and North Africa.
Along with Turkish Aerospace Industries (TAI), Baykar secured a place among the world's top 50 aviation companies in 2023, based on their performance in the ranking compiled by Counterpoint Market Intelligence on behalf of the global aviation publication "FlightGlobal."
Thanks to Baykar’s success on a global scale, Türkiye has left behind the U.S., Israel and China in terms of UAV exports. Türkiye commanded 65% of the world’s UAV export market, according to a U.S.-based think tank Center for New American Security (CNAS) report in September 2024.
Building on its performance, Baykar recently acquired Italian aviation giant Piaggio Aerospace, while media reports and the CEO of another prominent Italian defense maker, Leonardo, signaled potential cooperation between the duo.
Shares of Leonardo have been soaring in January amid reports on the possibility of a partnership with Baykar and its acquisition of Piaggio.
So far, the company has signed agreements with 34 countries for its popular Bayraktar TB2 and 10 countries for its heavy Akıncı combat drones.
Currently, it is also developing a Bayraktar TB3 drone, tailored for the country's first aircraft carrier and an unmanned fighter jet, Kızılelma.
Boasting the ability to fold its wings, the Bayraktar TB3 drone late last year became the first of its kind in the world to take off successfully and land on a short-runway warship.
According to a list shared by SSB, the companies that exported the most in the field of defense and aviation in Türkiye last year were Baykar, TAI, ASFAT, MKE, ARCA Defense, TUSAŞ Engine Industries Inc. (TEI), Aselsan, RAM Dış Tıcaret (Otokar), Roketsan and Samsun Yurt Savunma, respectively.
Considering export value, TAI followed Baykar with $750 million and ASFAT came in third with $644 million.
Commenting on the list, the head of SSB, Haluk Görgün, said: "Today, we proudly announce our 10 major companies that play a leading role in Türkiye's defense and aviation exports. These companies, which fly our flag on the global stage, reflect the common sense, synergy and innovation culture in our sector."
Thanking all the companies and highlighting the leadership of President Recep Tayyip Erdoğan, Görgün pledged to "continue to work on this path toward greater goals and a stronger Türkiye!"
