Aselsan aims to grow abroad.

Aselsan's New Goals

During the weekend in Antalya, Aselsan General Manager Ahmet Akyol answered Bloomberg's questions, announcing that the company's foreign sales, which increased by %89 from 508 million dollars to 958 million dollars last year, aim to rise the number of countries it operates in from 25 to 30. Akyol stated that they are bidding for projects across NATO and Europe to achieve this goal.

New Export Contracts

Akyol expressed that they expect new export contracts to reach 2.69 billion dollars in 2025. “So far, we have conducted many joint ventures abroad. However, we have not made direct acquisitions of foreign companies. Turkey and Aselsan are just starting to reach those levels,” he said.

Development of the Military Industry

NATO member Turkey has increased its military presence in the Middle East in recent years, while Aselsan has accelerated its efforts to develop the domestic defense industry by producing fighter jets, frigates, unmanned aerial vehicles, and ballistic missiles. This strategy has made Aselsan the center of major defense projects.

Investors' Interest: Aselsan

HSBC Investment Analyst Cenk Orcan stated in his report dated January 30, “Aselsan is well-positioned to benefit from the global environment with its export growth.” Aselsan’s Steel Dome project stands out as an air defense system that integrates local systems against various threats, from unmanned aerial vehicles to ballistic missiles.

2023 Performance

The Borsa Istanbul 100 Index has increased by %24 this year, and Aselsan has been the biggest contributor to this rally due to its weight in the index. Akyol noted that %70 of this rise belongs to foreign investors and stated that the company does not have plans for a secondary public offering in the near future.

Future Vision

Akyol emphasized that the first phase of the new technology base Oğulbey, which was started in Ankara, will be put into operation this year and that over 10 thousand jobs are targeted to be created there. In total, a minimum investment of 1.5 billion dollars is expected.