Turnover of Turkish defense and aviation industry increases 9% to USD 5bn in 2012.

By bne IntelliNews May 20, 2013

Turnover of the Turkish defense and aviation industry increased by 9% to USD 4.75bn in 2012, according to data of the Undersecretariat of Defense Industries (SSM). Turnover and export volume of the industry are expected to reach USD 8bn and USD 2bn in 2016. The value of the projects awarded by SSM increased by 85% over the past five years to USD 45.4bn.

It was reported earlier this month that SSM was in talks to produce Sikorsky’s Black Hawk helicopters in Turkey. Turkey’s largest defence company Aselsan will supply parts and software for Sikorsky’s Black Hawk military helicopters. Aselsan expects annual USD 100mn revenue over the next five to six years from the Black Hawk project, the company’s general manager Cengiz Ergeneman told Reuters. The project covers 109 helicopters and there will also be an export order of around the same amount, which will bring Aselsan combined business worth around USD 100mn annually for the next five to six years, Ergeneman said. The main contractor of the project will be TAI (Turkish Aerospace Technologies).

Last week, Ali Koc, board member of one the country’s largest conglomerates Koc Holding, said that the holding company wanted to grow in the defence industry. Koc Holding is currently active in defence industry through its 44.68% carmaker subsidiary Otokar and its 40.53% ship builder subsidiary RMK Marine.

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