ASELSAN Hits Historic Milestone With $30 Billion Order Backlog
Turkish defense giant ASELSAN has announced its financial results for the first nine months of 2026, revealing that the company has shattered its own records by exceeding a $30 billion order backlog. According to the official statement released to the Public Disclosure Platform (KAP), the company increased its revenue by 28% in real terms compared to the same period last year, reaching 151.5 billion TL. This historic performance is underscored by a record-breaking $30.7 billion in total order backlog, with new contracts signed during this period alone amounting to $14 billion. Additionally, the firm successfully expanded its global footprint, with new export agreements surging by 34% to $1.9 billion.
- ASELSAN successfully surpassed a $30 billion order backlog for the first time in its history.
- The company increased its EBITDA by 38% to 40.6 billion TL through rigorous financial discipline.
- Research and development investments grew by 36% to reach a total of $1.3 billion.
- The firm achieved a 34% increase in new international export contracts during the nine-month period.
Financial Performance and Operational Efficiency Are Improving
The company continues to translate its global operational growth into strong profitability and efficiency metrics. ASELSAN’s EBITDA reached 40.6 billion TL, reflecting a 38% increase over the previous year, while the EBITDA margin rose to 26.8%. These figures demonstrate the firm’s commitment to maintaining a robust balance sheet amidst rapid expansion.
Operational discipline is further evidenced by a 23 billion TL cash flow and an effective debt management strategy that reduced financing expenses by over 10%. With an equity-to-asset ratio remaining steady at 55%, the company maintains a stable financial foundation while simultaneously improving its return on equity and assets.
Production Infrastructure and R&D Capabilities Are Expanding
To meet the demands of its growing order book, ASELSAN has increased its investments in high-technology production by 228%, totaling $684 million. A major milestone in this expansion is the activation of the first phase of the Oğulbey Technology Base, which stands as the largest single-phase defense facility in Turkish history. Furthermore, the company has integrated advanced robotic automation across its land, sea, and air system production lines.
As the leader in Turkish research and development, ASELSAN continues to prioritize innovation. R&D expenditure reached $1.3 billion, with a specific focus on high-barrier fields such as quantum computing, underwater technologies, and high-power microwave systems.
Global Market Positioning is Being Strengthened
ASELSAN General Manager Ahmet Akyol noted that the company’s strategic transformation program, aselsaneXt, has proven highly effective. With a book-to-bill ratio of 4.4, the company has effectively secured its production schedule for the coming years. Akyol emphasized that the company is no longer just focused on the volume of growth but on its quality, as evidenced by its inclusion in the Forbes Global 2000 list and its rising rank in the Defense News Top 100.
Beyond traditional defense sectors, the company is also expanding into space-based technologies with the ASTRALINK project. By integrating its communication infrastructure with low-earth orbit satellite concepts, ASELSAN is positioning itself to provide seamless connectivity across all domains of modern warfare.
As ASELSAN continues to secure major international contracts and invest heavily in next-generation technologies, what do you think this growth means for the future of the global defense industry? Share your thoughts in the comments below.
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