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09:39, 21 June 2018 Thursday
14:30, 14 June 2017 Wednesday

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Turkish defense industry sees over 20 percent growth
Turkish defense industry sees over 20 percent growth

US and Europe were Turkey's top destinations for its military exports in 2016 with sales of $585M and $450M, respectively

World Bulletin / News Desk

The U.S. and Europe were Turkey's top destinations for its military exports last year with sales of $585 million and $450 million, respectively, as the Turkish industry grew by over 20 percent last year, according to a defense industry report late Tuesday.

The Defense and Aerospace Industry Manufacturers Association's 2016 performance report said Turkish defense industry was valued at $6 billion in 2016, an increase of 22 percent over the previous year.

Turkey's exports in the defense and aviation industries sectors was nearly $1.7 billion last year, the report said.

It also said the country spent $1.25 billion in 2016 on product and technology development activities, marking a 40-percent growth compared with 2015.

In 2016, Turkey received $12 billion worth of new orders, an increase of 55 percent compared with previous year's $7.7 billion orders, it said.

Land platforms with $6 billion and air platforms with $3.4 billion held major shares in new orders, of which 90 percent were taken from domestic customers, it said.

The report also said the defense industry employed more than 35,000 employees, including over 10,000 engineers in the year. 



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