Tag #Turkish Arms Industry

What is the significance of the increase in Turkish arms manufacturers' global market share?

Turkish companies increased their share of the global arms trade in 2023, with Aselsan, Baykar, and TUSAŞ seeing a combined revenue increase of 24% to $6 billion, according to the Stockholm International Peace Research Institute (SIPRI). Baykar's revenue surged by 25% to $1.9 billion, driven largely by exports, while TUSAŞ saw a 45% increase, reaching $1.7 billion. Aselsan's revenue grew by 12% to $2.4 billion.