THE DEFENCE INDUSTRY OF TURKEY IS A BOOMING INDUSTRY IN THE NATION

THE DEFENCE INDUSTRY OF TURKEY IS A BOOMING INDUSTRY IN THE NATION

INTRODUCTION TO THE DEFENSE INDUSTRY

Defense includes a range of activities which includes manufacturing and production of various defense systems which are capable to provide protection to a country from all forms of danger. Multiple types of equipment are made in order to target enemies in air, land, or water. Other support and surveillance equipment such as radars, sonars, and satellites also come under defense equipment.

A dedicated report is formed in every country with the name of ‘Defense Research Report’ where everything related to the trade of defense personnel is recorded. Details such as statistics related to the defense market, market size, share of each region, competitors’ analysis, new opportunities, etc. are available in this detailed Defense research report.



Based on the Global Trade Data of the previous year, the global market of defense grew by almost 8%, i.e., from USD 535 billion to USD 577.2 billion. Due to the Russian-Ukraine fight, the global recovery slowed down due to inflation and disruption in supply chains. It has been expected that by 2027, the Global Trade Data for the defense industry will touch USD 718.12 billion at an approximate CAGR of 5.6%.

THE DEFENSE INDUSTRY IS BOOMING IN TURKEY – REPORT

As per Turkey Export Data for the year 2022, it has been noted that the exports of defense equipment crossed a mark of USD 4 billion first time in its history. According to Ismail Demir who is the leader of the country’s defense agency, Turkey achieved a mark of USD 4.3 billion in exports in 2022, and in the year 2023, this number has to reach USD 6 billion. In 2021, the total exports from the defense sector were worth USD 3.2 billion.

According to the updates and values entered in Turkey Export Data of 2022, in the month of October, exports were close to USD 464 million, and in November, these exports reached USD 503 million. The owner of the drone manufacturing company Baykar, Selcuk Bayraktar said that his company sold its drones to nearly 27 countries in the year 2022.

If we talk only about the exports of land vehicles, then vehicles worth USD 430 million were exported from Turkey and BMC was the leading company in these exports to the globe. The same insights are mentioned in Turkey Export Data of that duration.

Now, as per the President of Turkey, Recep Tayyip Erdogan, the total budget of the defense industry in the nation is more than USD 60 billion with R&D alone having a share of USD 1.5 billion per annum.

Erdogan sees the defense industry as one of those industries of Turkey that can help to grow the turnover from total exports of the nation in the near future. He states that the defense industry of the nation has broken the chains and is on the road to growing and becoming one of the most profitable industries in the country.

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