Companies that lead Türkiye’s 2023 R&D expenditure rankings

A recent analysis of Türkiye’s top 250 companies with the highest research and development (R&D) expenditures in 2023 reveals a growing trend toward innovation within the country’s defense, automotive, and electronics sectors.

The data, compiled by Turkishtime magazine, underscores Türkiye’s commitment to technological advancement and its ambitions to become a global leader in innovation.

TUSAS/TAI tops R&D expenditure list

Turkish Aerospace Industries (TUSAS) emerged as the leader with an R&D expenditure of ₺28.187 billion ($826 million).

The company, known for its significant contributions to the aerospace industry, conducted 105 R&D projects with a workforce of 4,898 dedicated R&D personnel. TUSAS plans to increase its R&D spending to ₺49.294 billion in 2024.

Aselsan secures second place

Aselsan, a prominent defense electronics company, ranked second with 19.486 billion Turkish lira in R&D expenses. The firm led a remarkable 982 R&D projects and employed 6,447 R&D staff. For 2024, Aselsan has allocated ₺43.311 billion for R&D activities.

Ford Otomotiv takes third spot

Ford Otomotiv came in third, spending ₺5.31 billion on R&D. The company is a key player in the Turkish automotive industry, focusing on innovative vehicle technologies.

Other notable entries

Roketsan secured the fourth spot with ₺4.17 billion in R&D expenditures, followed by Arcelik with ₺3.34 billion. Havelsan and TUSAS Engine Industries (TEI) also made it to the top 10, reflecting the significant R&D activities in Türkiye’s growing defense sector.

Turkish telecom operator Turkcell and Turkish white goods firm Vestel ranked seventh and eighth, respectively, with R&D expenditures exceeding ₺2 billion each.