Turkish defense giant Aselsan signs $2.75B deals for hybrid air defense systems

Agreements with Türkiye’s defense industries authority expected to boost company revenues

Turkish defense company Aselsan signed agreements worth €2.46 billion ($2.75 billion) with Türkiye’s Secretariat of Defense Industries for the procurement of hybrid air defense systems, the company announced on Monday. In a disclosure to the Public Disclosure Platform (KAP), Aselsan said the agreements would have a positive impact on its revenues. The company listed Oct. 5 as the expected starting date of the new business relationship. The Secretariat of Defense Industries accounted for 30.6% of Aselsan’s net sales and 37.8% of its trade receivables in its latest disclosed financial statements. Aselsan did not disclose a delivery schedule or further details about the systems covered by the agreements. CEO Ahmet Akyol said on Turkish social media platform NSosyal that ongoing serial production efforts were further strengthening Türkiye’s Steel Dome air defense system and enhancing protection of the country’s skies. Describing Türkiye as one of the few countries capable of developing its own air defense systems, Akyol pledged to continue working “day and night” toward an independent defense industry.