Türkiye’s Aselsan achieves record financial performance with increased exports
ASELSAN, a leading Turkish defense company, showcases its advanced naval weapon systems at the IDEX and NAVDEX 2025 International Defense Exhibition and Conference in Abu Dhabi, United Arab Emirates, on Feb. 17, 2025 (AA Photo)
One of Türkiye’s leading defense companies, Aselsan, has reached record-breaking financial results in 2024, fueled by increased international contracts and new defense technology exports.
Record-breaking contracts and revenue growth
Aselsan reported $1 billion in international contracts, marking a 70% increase compared to the previous year.
The company’s total signed contracts in 2024 grew by 32%, reaching $6.5 billion. Backlog orders rose 28%, reaching $14 billion, reflecting continued global demand for Aselsan’s cutting-edge defense products.
Expansion into new markets
In 2024, Aselsan expanded its global footprint by securing agreements with seven new countries and signing export contracts for 31 new products.
The company strengthened its partnerships with local platform manufacturers while forming new agreements with six foreign platform manufacturers, further boosting its international presence.
Key defense technology exports
Aselsan’s exported technologies in 2024 include:
- Radar and electro-optical systems
- Vehicle-mounted signaling equipment
- Smart munitions
- Air defense systems
- Friend-or-foe identification systems
Major defense contracts signed
Aselsan’s significant 2024 contracts include:
- Air defense and smart munitions supply agreements with the Ministry of National Defense and the Secretariat of Defence Industries (SSB).
- Export of electronic warfare, radar, and sonar systems to customers in Asia and the Middle East.
- Collaboration with Turkish Aerospace Industries (TAI) for satellite payloads, warship combat systems, and security systems.
- Integration of remote-controlled weapon systems for land and naval platforms with international partners.
Aselsan’s financial success
- Export revenue increased by 67%, reaching $508 million.
- Net profit surged to ₺15.2 billion ($417.3M), with a margin increase from 10% to 13%.
- Domestic customer base grew from 180 to 394, while international customers increased from 47 to 76.
Future outlook and industry impact
Aselsan continues to lead Türkiye’s defense sector, expanding into new global markets while maintaining strong domestic partnerships.
With its growing portfolio of advanced defense technologies, the company is poised for further international success in the coming years.
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