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Turkish Defense & Aerospace Sector Increased Exports by 47.8% During the First Four Months of 2021!

Issue 106

Exporting its defense products to over 140 countries around the world Turkey is targeting to become a top six country in the world in terms of defense and aerospace exports. According to the “Strategic Plan 2019-2023,” document issued by the SSB on December 4, 2019, the Turkish Defense and Aerospace Sector’s annual turnover will rise to US$26.9 Billion, from US$8,761 Billion in 2018, defense and aerospace (both military and commercial) exports to US$10.2 Billion and the local content rate in defense and aerospace projects will reach 75% by the end of 2023, the year that will mark the first centennial of the Republic of Turkey. 

The Turkish Defence and Aerospace Industry closed the year 2020 with export revenues of US$2.279 Billion, which represents a 16.8% decrease in exports of defense and aerospace products compared to 2019, and has managed to increase its exports with impressive figures during the first four months of 2021. As per monthly export data announced by the Turkish Exporters Assembly (TIM), Turkish Defence and Aerospace Industry exports increased by 3.7% in January, 34.1% in February, 74.6% in March and 47.8% in April compared to the same period 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’s numbers (US$2.740.144 Billion according to TIM data), which closed at record high.