Turkish Aerospace and Defense Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 15.27 Billion |
| Market Size (2029) | USD 16.17 Billion |
| CAGR (2024 - 2029) | 1.15 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Turkish Aerospace and Defense Market Analysis
The Aerospace And Defense Industry Of Turkey Market size is estimated at USD 15.27 billion in 2024, and is expected to reach USD 16.17 billion by 2029, growing at a CAGR of 1.15% during the forecast period (2024-2029).
Turkey is one of the major hubs for transcontinental travel as the country is located between the West (Europe) and the East (Asia and the Middle East). The country is also located to the north of the globe, allowing quicker trans-artic travel to North America. This factor drives the aviation industry in Turkey. Turkey had 12% of commercial aircraft deliveries out of the total aircraft delivered in Middle East & Africa during 2018-2022. As of 2022, Turkey’s active business jets accounted for 12% of the Middle East and African fleet.
The growing passenger traffic in the country is propelling the demand for new commercial aircraft from the airlines operating in the country, such as Turkish Airlines, SunExpress, Pegasus Airlines, Onur Air, Corendon Airlines, and Anadolujet. Thus, the growth in passenger traffic is increasing the demand for new commercial aircraft in the country. The government's emphasis on domestic manufacturing has been increasing rapidly, and currently, the country's product portfolio includes UAVs, cruise missiles, and armored vehicles, among others.
However, the market may be marred by challenges such as brain drain, the ongoing currency crisis, dependence on foreign suppliers, and regional political disputes. Nevertheless, since Turkey is a part of the NATO alliance, its aerospace and defense industry is likely to be in sync with the adoption of advanced resources by the other NATO partners.
Turkish Aerospace and Defense Market Trends
Aerospace Segment to Witness Highest Grwoth During the Forecast Period
Turkey is one of the major hubs for transcontinental travel because the country is located right between the West (Europe) and the East (Asia and the Middle East). The country is located north of the globe, allowing quicker trans-artic travel to North America. This drives the aviation industry in Turkey. For instance, 128 million air passengers traveled through Turkey in 2022, compared to 112 million in 2021. The growth between 2022 and 2021 was 14.5%, and the growth between 2022 and 2020 was 187%. The country’s passenger revenue recorded an 81% growth in 2022 compared to 2021. It was 193% compared to 2020. The country’s air transport freight recorded a 47.69% growth in 2022 compared to 2021. It was 16% compared to 2020.
Regarding deliveries, the country’s commercial aircraft accounted for 12% of the total commercial aircraft in the Middle East and Africa from 2017-2022. Of these commercial aircraft deliveries, about 80% are narrowbody, 20% widebody, and no freighter aircraft were delivered during 2017-2022. For instance, Turkish Airlines SunExpress received four Boeing B737-8 MAX 8s in December 2021. With deliveries continuing through 2029, the airline has 42 aircraft on order. Furthermore, Pegasus Airlines has a 100 aircraft order with 25 options, amounting to a list price of USD 12 billion. Pegasus Airlines added to this in October 2021 with a six-aircraft order for more A321neos; deliveries to the Istanbul-based carrier will start in 2024.
Defense to Dominate Market Share During the Forecast Period
The defense segment is projected to continue its dominance during the forecast period. This is majorly due to the rapidly growing military expenditure of the country. The country is developing new and advanced combat aircraft, weapons, and ammunition (including missiles), naval vessels, UAVs, main battle tanks, and C4ISR equipment, among others, to support the country's armed forces.
In 2022, Turkey’s military spending was USD 15.4 billion. Out of the total government spending, the country has allocated 1.2% of its share to the military. According to the Defence Industry Manufacturers Association, in 2022, Turkey's defense and aerospace industry sales reached USD 12.2 billion, and exports totaled USD 4.4 billion, exceeding USD 2.6 billion in imports. There is an increase in all defense areas, with research and development (R&D) investments increased to USD 2.1 billion from USD 1.6 billion, a 25.72% increase from 2021.
In January 2022, the Turkish Defense Association (SSB) announced that it was conducting the final testing of its indigenous HISAR-O+ air defense missile system. It is a short-, medium-, and long-range surface-to-air missile system being developed by Roketsan and ASELSAN. HISAR-O includes mobile launcher units, a fire control system, mast-mounted air defense radar, and electro-optical/infrared (EO/IR) sensors and consists of a high explosive fragmentation warhead, which can be fitted with impact and proximity fuses to effectively destroy airborne targets flying at medium altitudes.
Turkey Aerospace And Defense Industry Overview
The Turkish aerospace and defense market is fragmented, and some of the major players in the market are ASELSAN AS, BMC Otomotiv Sanayi ve Ticaret AS, TUSAS (Turkish Aerospace Industries), KOC Holding AS, and HAVELSAN AS. The country is planning to increase its dependence on international players and boost its domestic manufacturing. The removal of the country from the F-35 program has further propelled the country's need to develop a strong domestic manufacturing industry. The country aims to become independent of foreign suppliers in the defense industry by 2023. The robust plans of the government are anticipated to help the companies increase their share in the market. The development of new and advanced products by companies is expected to help the companies increase their presence in the market.
Turkish Aerospace and Defense Market leaders
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ASELSAN A.S.
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BMC Otomotiv Sanayi ve Ticaret A.S.
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TUSAS (Turkish Aerospace Industries)
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KOC Holding AS
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HAVELSAN A.S.
*Disclaimer: Major Players sorted in no particular order
Turkish Aerospace and Defense Market News
- September 2023: Turkish Airlines placed an order for ten Airbus A350-900 aircraft. Currently, Turkish Airlines operates a fleet of 14 A350-900s.
- July 2022: Turkish Airlines received delivery of an Airbus A350. In August 2022, two more Airbus A350s were added to the fleet of Turkish Airlines. The aircraft was manufactured for Aeroflot (Russian Airlines), but due to sanctions on Russia, Aeroflot did not take delivery of the aircraft; instead, Turkish Airlines took the delivery.
- July 2022: The Turkish Defense Association (SSB) announced that the Turkish Armed Forces (TSK) received the first batch of the Sungur Weapon System, a portable air defense missile system effective against unmanned aerial vehicles (UAVs), jets, and helicopters. The Sungur Weapon System was developed by Roketsan, a local weapons manufacturer and defense contractor.
Turkish Defense & Aerospace Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Turkish Economy Outlook
4.2 Import and Export of Aerospace and Defense
4.3 Airport Infrastructure Investment
4.4 Commercial and General Aviation Procurement Plans
4.5 Defense Spending Analysis
4.6 SWOT Analysis
5. MARKET SEGMENTATION
5.1 Industry
5.1.1 Manufacturing, Design, and Engineering
5.1.2 Maintenance, Repair, & Overhaul
5.2 Type
5.2.1 Aerospace
5.2.2 Defense
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 TUSAS (Turkish Aerospace Industries)
6.1.2 ROKETSAN AS
6.1.3 ASELSAN AS
6.1.4 Turkish Technic
6.1.5 BMC Otomotiv Sanayi ve Ticaret AS
6.1.6 FNSS Savunma Sistemleri AS
6.1.7 Mechanical and Chemical Industry Company (MKEK)
6.1.8 KOC Holding AS
6.1.9 HAVELSAN AS
6.1.10 STM Savunma Teknolojileri Muhendislik ve Ticaret AS
6.1.11 Airbus SE
6.1.12 The Boeing Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Turkish Aerospace and Defense Industry Segmentation
The study accounts for the Turkish aerospace and defense industry developments on critical systems and components of aircraft, UAVs, armored vehicles, air defense systems, naval vessels, and satellites, among others.
The Turkish aerospace and defense market is segmented by industry and type. Based on industry, the market is segmented into manufacturing, design and engineering, and maintenance, repair, & overhaul (MRO). Based on type, the market is segmented into aerospace and defense. The report offers the market size in value terms in USD for all the abovementioned segments.
| Industry | |
| Manufacturing, Design, and Engineering | |
| Maintenance, Repair, & Overhaul |
| Type | |
| Aerospace | |
| Defense |
Turkish Defense & Aerospace Market Research FAQs
How big is the Aerospace And Defense Industry Of Turkey Market?
The Aerospace And Defense Industry Of Turkey Market size is expected to reach USD 15.27 billion in 2024 and grow at a CAGR of 1.15% to reach USD 16.17 billion by 2029.
What is the current Aerospace And Defense Industry Of Turkey Market size?
In 2024, the Aerospace And Defense Industry Of Turkey Market size is expected to reach USD 15.27 billion.
Who are the key players in Aerospace And Defense Industry Of Turkey Market?
ASELSAN A.S., BMC Otomotiv Sanayi ve Ticaret A.S., TUSAS (Turkish Aerospace Industries), KOC Holding AS and HAVELSAN A.S. are the major companies operating in the Aerospace And Defense Industry Of Turkey Market.
What years does this Aerospace And Defense Industry Of Turkey Market cover, and what was the market size in 2023?
In 2023, the Aerospace And Defense Industry Of Turkey Market size was estimated at USD 15.09 billion. The report covers the Aerospace And Defense Industry Of Turkey Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aerospace And Defense Industry Of Turkey Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Turkey Defense & Aerospace Industry Report
Statistics for the 2024 Turkey Defense & Aerospace market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Turkey Defense & Aerospace analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
