Türkiye’s defence major Aselsan moved five spots up on Defense News’ annual “Top 100 Defence Companies List,”, from 47th last year to 42nd this year, but Ahmet Akyol, President & CEO of the company, has set his sights higher. Akyol...
To read the full article, please log in or enter your email below:
Türkiye’s defence major Aselsan moved five spots up on Defense News’ annual “Top 100 Defence Companies List,”, from 47th last year to 42nd this year, but Ahmet Akyol, President & CEO of the company, has set his sights higher.
Akyol says the company’s goal is to be one of the top 30 defence firms in the world by 2030. “It is an achievable goal if we continue our 10 percent growth rate and I am confident that we will,” Akyol said. “With nearly 11,000 employees, 16 local subsidiaries and 18 international offices, we are well-positioned to achieve even greater rankings.”
The exponential growth of the Turkish defence industry is one of the major reasons why Akyol is optimistic that Aselsan, producer of military electronics and defence systems, will reach its 2030 goal. “Turkey was earlier known for sub-systems, but over the last 4-5 years, many indigenous Turkish platforms such as aircraft, helicopters, UAVs and ships have been acquired and deployed with our payloads, not only by the Turkish military but also by many international customers. We can therefore showcase our combat-proven products to international customers. That is a big advantage.”
Aselsan’s defence revenue last year was nearly US$3 billion; the company registered a revenue growth of about 30% in 2023. Its total turnover reached US$3.2 billion, with defence accounting for 94% of the total. The company also secured new export contracts worth US$601 million and expanded its global footprint to 88 countries.
The first half of 2024, if anything, has turned out to be even better. During the period, Aselsan’s revenues reached 35.7 billion TL (over US$1 billion) with an 8% growth rate, while net profit grew by 133% to 3.6 billion TL. The total backlog of the company stands at US$12.3 billion, including US$2.6 billion worth of new contracts. Of the new contracts, international deals amount to US$365 million.
In July, the company made its debut as an exhibitor at the Farnborough Airshow, one of the two biggest tradeshows in the world, displaying capabilities in seven different technological areas such as electro-optical reconnaissance, surveillance, and targeting systems, radar systems, guided munitions, integrated avionics systems, communication systems, and electronic warfare (EW) systems.
“We are now ready to showcase our proven products in the air domain to the international market,” says Akyol. “We are looking to collaborate with international partners from friendly countries. We offer products that are not only superior in quality compared to that of the competition but also cost-effective.”
Aselsan is now among the world’s 10 fastest growing defence companies. In recent years, the company has had great success exporting its products to a growing list of countries. According to Akyol, Aselsan signed export deals for the first time for eight of its products, including Korkut, Cenk, Fersah, Aselflir 500, and Gozde. The company also exported its products to three new countries during the period.
On the home front, Aselsan delivered its ALP 300 G Portable Early Warning Radar System and its AESA Aircraft Nose Radar to the country’s security forces. Besides launching the 8×8 vehicle integrated version of the Korkut Air Defence Weapon System in Europe, the company equipped TÜRKSAT 6A with its advanced communication payloads and continued work on development of the Goksur Close in Air Defense System. Among the other milestones in the first half of the year were the completion of the extended range firing tests of its medium range Hisar-O missile, and the test of the Tolun guided munition fired from Akinci UCAV.
“With our vast range of products, we are equipped to support all platforms, including aircraft, helicopters, tanks, unmanned aerial vehicles (UAVs), submarines, ships and even the space domain,” says Akyol. “We have a very vibrant and hardworking workforce; the average age of our employees is 34. In the next 30 years, we are going to progress significantly.”
ANA Holdings and CFM International have announced an order for more than 75 LEAP engines, including both installed and spares.…
General Atomics Aeronautical Systems, Inc. (GA-ASI) recently demonstrated the first-ever Anti-Submarine Warfare (ASW) capability on an MQ-9B SeaGuardian. In a…
ANA Holdings has ordered 15 E190-E2s aircraft from Embraer with options for an additional five aircraft. Deliveries are expected to…
The French Defence Procurement Agency (DGA) has awarded the third phase of the Naval Force IP Network (RIFAN 3) contract…
Indonesia is proceeding with its plan to acquire Russian-made Sukhoi Su-35 fighter jets, according to Brigadier General TNI Frega Wenas,…
All Nippon Airways (ANA) Holdings Inc. has placed an order for 15 Embraer E190-E2 aircraft, with options for an additional…
Gebrüder Weiss, an Austria-based international transport and logistics company, has expanded its transport and logistics services in Poland, introducing national…
Semi Conductor Devices (SCD) has secured an order for hundreds of its Crane Mid-Wave Infrared (MWIR) detectors from a leading…
ELT Group has renewed its strategic partnership with the UAE by signing a Letter of Intent (LOI) with EDGE at…
EDGE and Fincantieri have signed a new Memorandum of Understanding (MoU) that extends and builds upon an earlier agreement in…
The U.S. Marine Corps successfully demonstrated an L3Harris Technologies solution for long-range precision fires from a vertical takeoff and landing…
ENEOS Corporation and Mitsubishi Corporation have agreed to carry out a Front-End Engineering Design (FEED) study for a Sustainable Aviation…
FNSS has secured a contract to produce new-generation PARS ALPHA 8x8 and 6x6 armoured vehicles for the Turkish Land Forces…
SpearUAV has announced the appointment of Yiftach Kleinman as its new Chief Executive Officer (CEO). He replaces the company's founder,…
HAVELSAN has developed a new unmanned aerial vehicle (UAV), BULUT, for reconnaissance and surveillance operations. The UAV has been added…
The Royal Thai Navy (RTN) has selected Navantia SA, SME, a Spanish state-owned shipbuilding company, to enhance the combat system…
The European Space Agency’s (ESA) Biomass satellite, built by Airbus, has departed from Toulouse and is en route to Kourou,…
American Rheinmetall Vehicles has rebranded as American Rheinmetall, a change intended to reflect its commitment to serving customers across all…
EDGE, an advanced technology and defence group, has signed a memorandum of understanding (MoU) with Emirates Cable Corporation Interconnect (ECCI)…
The International Defence Exhibition (IDEX) and the Naval Defence & Maritime Security Exhibition (NAVDEX) will be held at the ADNEC…
Abu Dhabi Ship Building (ADSB), part of the EDGE Group, has signed a Memorandum of Understanding (MoU) with German sensor…
The Brazilian National Secretariat for Penal Policies (SENAPPEN) has signed an initial contract worth R$7 million with CONDOR Non-Lethal Technologies,…
The Philippine Army (PA) has confirmed plans to acquire short-range air defence missile systems, with funding already allocated in the…
The Brazilian Navy has signed an agreement for the integration of MANSUP anti-ship missiles onto its Tamandaré-class stealth frigates. The…
CARACAL Light Ammunition, a subsidiary of the UAE’s EDGE Group, has signed a Letter of Intent (LOI) with PT Pindad,…
Milrem Robotics has partnered with Abu Dhabi-based SteerAI to enhance the UAE land forces' capabilities with autonomous unmanned ground vehicles…
The European Union Aviation Safety Agency (EASA) has issued a Type Certificate for the Airbus A321XLR equipped with Pratt &…
The Israeli Ministry of Defence's Directorate for International Defence Cooperation (SIBAT), in collaboration with leading Israeli defence firms, participated in…
Israeli company Smartshooter and German company IEA Mil-Optics have received another significant order to supply a mid-three-digit number of Smartshooter…
Algeria has formally acknowledged that it has acquired Russian Su-57 stealth fighter aircraft, making it the jet's first international customer.…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2025 GBP all rights reserved.