TURKEY

3 Turkish defense firms listed among world’s 100 largest in 2016

3 TURKISH DEFENSE FIRMS LISTED AMONG WORLD’S 100 LARGEST IN 2016

Three Turkish defense firms made this year's list of the world's top 100 defense firms, with two climbing up the ranking, and a third making its debut.

Turkish giant Aselsan rose one spot to number 57 on Defense News magazine's Top 100 list, and Turkish Aerospace Industries is close behind, at number 61, leapfrogging 11 places from number 72 last year.

Missile-maker Roketsan also made the cut, entering the list this year at number 98.

The Defense News Top 100 is seen as the world's most prestigious defense industry list.

In a statement, Aselsan touted the move upwards, saying that last year the company's financial turnover topped $1 billion.

As late as 2006, the Ankara-based firm was number 93.

According to the company, Aselsan provides solutions to its customers in fields such as military and civil communication systems, radar and electronic war systems, avionic systems, defense and weapon systems, and naval and security systems.

New countries are being added to Aselsan's export portfolio every year, as the Turkish firm exports to at least 60 countries on five continents.

In addition, Aselsan has joint ventures in Azerbaijan, the United Arab Emirates, Kazakhstan, Jordan, Saudi Arabia, and Malaysia.

TAI and Roketsan

At number 61 on the list, TAI, also known as TUSAŞ, has distinguished itself with local products such as ANKA unmanned aerial vehicles, ATAK helicopters for the Turkish army, and HÜRKUŞ training planes.

The company, which aims to increase its revenue to $10 billion by 2026, offers its services in the areas of aircraft and space system as well as logistic solutions.

In 2011, its first year on the list, TAI came in at number 83. The firm's financial turnover rose from $886 million in 2015 to over $1 billion in 2016.

New list entry Roketsan had a financial turnover last year of $364 million.

Topping this year's Defense News Top 100 was U.S. aviation giant Lockheed Martin with a $43.4 billion turnover, followed by the U.S. Boeing with $29.5 billion, and British defense giant BAE Systems with $23.6 billion.

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