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Turkish Defence & Aerospace Sector Has Managed to Increase Its Exports by 45.5% During First Six Months of 2021!

Issue 108

Exporting its defence products to over 140 countries around the world Turkey is targeting to become a top six country in the world in terms of defence and aerospace exports. According to “Strategic Plan 2019-2023,” document issued by the SSB on December 4, 2019, Turkish Defence and Aerospace Sector’s annual turnover will rise to US$26.9 Billion, from US$8.761 Billion in 2018, defence and aerospace (both military and commercial) exports to US$10.2 Billion and the local content rate in defence and aerospace projects will reach to 75% by the end of 2023, the year that will mark the first centennial of the Republic of Turkey. 

Having closed the year 2020 with an exports revenue of US$2.279 Billion (TIM figure, according to SASAD 2020 Performance Report the total of export revenue in 2020 was US$2.266 Billion), which represents a 16.8% decrease in export of defence and aerospace products compared to 2019, Turkish Defence and Aerospace Industry has managed to increase its exports with considerable figures during the first five months of 2021. As per the monthly export data announced by the Turkish Exporters Assembly (TIM), Turkish Defence and Aerospace Industry exports has increased 3.7% in January, 34.1% in February, 74.6% in March, 47.8% in April, 51.6% in May and 32.6% in June compared to the same period of the previous year, despite the negative effects of the COVID-19 pandemic. Export revenues are expected to increase further in 2021 and even exceed 2019 (US$2.740,144 Billion according to TIM data), which closed at record high.