Turnover of Turkish defense giants exceeds TL 10B in 2017

Published 07.09.2018 21:11 Modified 07.09.2018 21:11

Defense companies which are the subsidiaries of the Turkish Armed Forces Foundation (TSKGV) and are named "flagships" of the Turkish defense industry reached a turnover of TL 10.5 billion ($1.62 billion) last year.

TSKGV, which establishes, develops and partners up with defense companies in order to contribute to the war power of the Turkish Armed Forces (TSK), undertakes significant responsibilities in this area with its subsidiaries of more than half of the capital of which it owns.

ASELSAN, Turkish Aerospace Industries (TAI) and Roketsan, which are the subsidiaries of the foundation, are among the 100 largest defense industry companies in the world. ASELSAN ranked 55th in the Defense News list, TAI 64th and Roketsan 96th with their performances last year.

The sales conducted by ASELSAN, TAI, Roketsan, Havelsan, İŞBİR and Aspilsan last year amounted to TL 10.5 billion, with an increase of 34 percent compared to the previous year. The size of the sales conducted by foundation companies abroad stood at TL 3 billion with an increase of 24 percent in the same period. In 2013, the total foreign sales by foundation subsidiaries had amounted to TL 1.4 billion.

According to the list prepared by the Turkish Exporters Assembly (TİM) on the basis of export revenues, TAI, ASELSAN and Roketsan ranked 22nd, 68th and 424th, respectively, among Turkey's largest exporter companies last year.

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