ASELSAN Reports Record Backlog Exceeding 30.7 Billion Dollars

Ender Öztürk

October 27, 2026

Turkish defense industry leader ASELSAN has officially released its financial performance report for the first nine months of 2026, highlighting a period of significant expansion. During this timeframe, the company achieved a major milestone as its total backlog surpassed the 30 billion dollar threshold for the first time, reaching a record 30.7 billion dollars. Driven by a surge in new international and domestic contracts totaling 14 billion dollars and sustained investments in production infrastructure, ASELSAN continues to solidify its role as a global defense player. The firm also reported a 28 percent real increase in revenue, reflecting its successful execution of complex, high-technology projects across the defense electronics and aerospace sectors.

Backlog Orders Have Surpassed 30.7 Billion Dollars

The most prominent metric in the company’s financial disclosure is the backlog figure, which represents the total value of signed projects yet to be delivered. Reaching 30.7 billion dollars, this portfolio indicates a robust pipeline of future production activity. While this amount does not represent immediate liquid profit, it serves as a reliable indicator of the long-term workload and operational stability of the organization. These projects span critical areas such as radar systems, electronic warfare, and advanced communication technologies, which are essential for modern military requirements.

New Contracts Have Reached 14 Billion Dollars

ASELSAN’s growth is further supported by the 14 billion dollars in new agreements secured within the first nine months of the year. The company’s book-to-bill ratio, a key industry metric measuring the speed of incoming orders against current delivery rates, climbed to 4.4. This high ratio signifies that the company is winning new business at a rate significantly faster than its current revenue realization, ensuring a healthy pipeline for years to come.

Revenue Has Increased by 28 Percent in Real Terms

The firm achieved a revenue of 151.5 billion Turkish Liras during the reporting period, marking a 28 percent increase after accounting for inflation. This growth demonstrates the company’s ability to convert its vast order book into actual deliveries. By maintaining a steady output in sectors like air defense and electro-optics, ASELSAN has managed to balance its expanding project commitments with timely deliveries to both domestic and international clients.

Research and Development Expenditures Have Hit 1.3 Billion Dollars

Innovation remains the core strategy for the company as it raised its R&D spending by 36 percent to 1.3 billion dollars. These investments are directed toward developing indigenous solutions for critical sub-components and next-generation defense technologies. By focusing on areas such as underwater systems and microelectronics, the company aims to maintain its competitive edge in the global defense market.

Operational Efficiency Has Improved Through Higher Margins

The EBITDA margin rose to 26.8 percent, reflecting an improvement of 190 basis points compared to the previous period. Despite the heavy capital expenditure directed toward production facilities and R&D, the company has successfully optimized its operational costs. This indicates that the firm is effectively managing its resources while scaling its operations to meet the increasing demand for high-end military equipment.

Given the substantial growth in ASELSAN’s order backlog and its focus on indigenous technology development, how do you see the company’s role in the global defense market evolving over the next few years? We invite you to share your thoughts and insights in the comments section below.