Aerospace And Defense Industry Of Turkey Companies (2024 - 2029)

Aerospace And Defense Industry Of Turkey Companies Summary

Turkey's aerospace and defense market is a significant hub for transcontinental travel due to its strategic location between Europe and Asia, and the Middle East. This factor propels the aviation industry in the country, with an increase in passenger traffic demanding new commercial aircraft from airlines operating in the country. The government's emphasis on domestic manufacturing is growing rapidly, with the country's product portfolio including unmanned aerial vehicles, cruise missiles, and armored vehicles, among others. Despite challenges such as brain drain, currency crisis, dependence on foreign suppliers, and regional political disputes, the industry is expected to align with the adoption of advanced resources by other NATO partners due to Turkey's NATO alliance membership. The country's aerospace and defense market is fragmented, with several major players. The government plans to increase its dependence on international entities and boost domestic manufacturing. The country's removal from a significant defense program has further propelled the need to develop a robust domestic manufacturing industry. The government aims to become independent of foreign suppliers in the defense industry. The government's robust plans are anticipated to help firms increase their market share. The development of new and advanced products by corporations is expected to help these entities increase their presence in the market.