Turkiye’s Defense Industry Head Highlights 12.6% Year-on-Year Growth, Reaching $3.738 Billion in the First 8 Months of 2024
Turkish Defense and Aviation Industry Achieves Record Growth in Exports
In August 2024, Turkiye’s defense and aviation industry made significant strides by achieving $423 million in exports, marking a 12.6% increase compared to the same month last year. The President of Defense Industries, Haluk Görgün, emphasized that this growth reflects the industry’s ongoing commitment to expanding Turkiye’s global reach.
Strong Performance in 2024
Over the first eight months of 2024, the defense and aviation sector’s exports surged by 9.8% compared to the same period last year, reaching a remarkable $3.738 billion. Görgün highlighted that, on an annual basis, the industry has witnessed a 13.4% increase in exports, showcasing consistent growth and resilience in the global market.
- Key Statistics:
- August Exports: $423 million
- Year-on-Year Growth: 12.6%
- First 8 Months of 2024: $3.738 billion
- Annual Growth Rate: 13.4%
Expanding Global Presence
Görgün noted that one of the key objectives of Turkiye’s defense industry is to ensure a sustained increase in the export of high-value products. In 2024 alone, Turkish companies successfully exported products to 171 different countries, a testament to the industry’s broad and diversified export strategy. This global expansion is a crucial factor in the industry’s success, moving beyond regional markets to achieve a truly international presence.
- Key Markets: 171 countries worldwide
- Export Strategy: Focus on high-value products and diversified global reach
Commitment to Future Growth
Looking ahead, Görgün stated that the focus will be on increasing the number of exporting companies, particularly by supporting small and medium-sized enterprises (SMEs). The aim is to make the defense and aviation sector’s export growth sustainable across the entire industry. This inclusive approach will help Turkiye’s defense sector remain competitive and continue its upward trajectory in the global market.
- Future Goals:
- Increase the number of exporting companies
- Support SMEs in the defense sector
- Ensure sustainable export growth
The achievements of Turkiye’s defense and aviation industry in 2024 underscore the sector’s vital role in the nation’s economy. As the industry continues to grow, it solidifies Turkiye’s position as a key player in the global defense market, driving innovation and economic prosperity.
Source: Trthaber / Prepared by Irem Yildiz