9/16/2009

Turkey sets its sights on defense exports worth USD 1 billion by 2011

Hurriyet Daily News - Turkey's domestic defense industry is expected to export weapons, equipment and services worth USD 1 billion in 2011, up more than USD 400 million from last year's figure, the country's procurement agency said in this year's report on its strategic objectives. The Turkish defense industry's exports totaled USD 576 million last year. The balance comes from commercial sales by private and public defense companies. Tusas Aerospace Industries, or TAI, and military-electronics company Aselsan lead Turkish firms in offset foreign sales, exporting goods worth hundreds of millions of dollars annually in recent years. The commercial exports of several other Turkish defense firms are rapidly increasing, particularly those operating in the field of armored vehicles. Turkey's privately owned armored-vehicle manufacturers exported vehicles worth USD 120 million in 2007. This figure is expected to rise to USD 300 million by the end of 2010. Additionally, the publicly owned military factories produce and modernize vehicles. Turkish-made armored vehicles find buyers mostly in the Middle East and Asia.