Editörden - Defence Turkey Magazine


How COVID-19 will Impact the Defense Industry?

The impact of the COVID-19 pandemic has brought forth an unprecedented state of uncertainty for all business circles as well as the defense industry.  Executives and officials are struggling to understand the new situation with new challenges to tackle.

Most global and Turkish defense companies are taking some actions to protect staff from the COVID-19 outbreak. I believe that the most comprehensive scenario-based analyses on how to survive and achieve stability should be conducted by defense organizations and defense authorities to protect local industries with a re-evaluation of business strategies.

The major concerns that have arisen in the defense industry with the spread of COVID-19, are as follows:

How will manufacturing facilities and the supply chain be affected?

What new challenges will marketing and business development face?

What are the new market scenarios that we need to be aware of in order to implement realistic changes in our strategies?

What approaches can be considered to effectively reposition businesses for stability and growth?

What are the government’s policies and the steps taken to help local defense companies to mitigate the effects of the unprecedented challenges caused by the outbreak?

Overall, when compared to consumer-based sectors, the defense industry will most likely see less of an impact thanks to its long-term program protected by budgeted government expenses. However, many companies in the supply chain are financially vulnerable and it may impact the procurement of the material and equipment.

While it is too early to predict whether the industry will be stable, of if it will take a major or minor dip, it is significant that defense companies define what the major impact points are and to assess their potential to reposition and adjust future plans.

Moreover, I personally believe that the whole world is facing many of the same problems during this calamitous time. It is as if the pause button of the whole world was pressed in an instant. Events, fairs, the visits of official delegations, and meetings have come to a full stop. Business travelers who once could not catch their breath between daily, weekly and monthly travel for meetings, are now thinking and pondering life from the balcony of their home, perhaps taking that much needed breath of fresh air. What did human beings miss out on while they were focused on corporate goals, contracts, new markets, competition, ambition of success, and making more money? Now, it is as if an environment was created for everyone to slow down, a time for introspection, to think about... who I am, what do I want from life, what do I love and what is really important to me? The only thing we cannot earn more of, to gain, no matter how hard we try, is time.  During this unusual time I too hope to quiet my mind.  Our personal lives extend to our business lives with the full of energy of our intent and we can all use this important time to calmly reflect, learn new skills and to look at life with a different perspective…  

Enjoy this issue..

Ayşe Akalın
Publisher & Editor in Chief