The Defense News journal published the Defense News Top 100 list on Wednesday, concerning overall defense revenues of the Top 100 defense companies in the world, based on sales for the previous year. Two Turkish companies were on the rise in this year's list.
ASELSAN jumped four places to become 58th, while Turkish Aerospace Industries Inc. (TUSAŞ/TAI) suddenly jumped six places to become 72nd on the list. ASELSAN, a subsidiary of the Turkish Armed Forces Foundation, had turnover of $1.26 billion. ASELSAN, which was 93rd on list in 2006, jumped 35 places in 10 years. TAI, the other Turkish company on the list, had revenue of $886.5 million.
Every year for the past decade, Lockheed Martin, which had revenue of $40.6 billion, has been the top defense contractor. Lockheed was $10 billion ahead of second-place Boeing with $30.4 billion. U.K. giant BAE Systems came in third at $25.3 billion.
ASELSAN, founded by the Turkish Army Forces Federation in 1975, produces tactical military radios and defense electronic systems for the Turkish Armed Forces. ASELSAN designs, develops and manufactures modern electronic systems for military and industrial customers in Turkey and abroad.
TUSAŞ/TAI, established in 1984 by Turkish and U.S. partners, is the center of technology in design, development, manufacturing, integration of aerospace systems, modernization and after sales support in Turkey. The company has a modern aircraft facility furnished with high technology machinery and equipment that provides extensive manufacturing capabilities ranging from parts manufacturing to aircraft assembly, flights tests and delivery.