The Stockholm International Peace Research Institute (SIPRI) has published its new report, covering data for 2023. The report highlights the performance of Turkish defense companies. A total of five Turkish companies were listed among the world’s largest.

Turkish defense companies increased their revenues

According to the published report, the total revenue of the companies included in the list increased significantly compared to the previous year. Turkish companies’ arms and military service sales increased by 11 percent, bringing their total revenue to $10.1 billion.

ASELSAN maintained its leadership position, ranking 47th on the list with revenue of $3.47 billion. Turkish Aerospace Industries (TAI) ranked 65th with revenue of $2.16 billion. Baykar also ranked 73rd with a sales volume of $1.9 billion.

Roketsan, another prominent representative on the list, ranked 87th with revenue of $1.39 billion. Machinery and Chemical Industries (MKE) entered the list at number 93 with $1.21 billion in sales. With these results, Turkey became one of the countries with the most companies on the list.

So, what are your thoughts on the Turkish defense industry? Share your thoughts with us in the comments!