Turkey Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028
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Turkey Defense Market Report Overview
The Turkish defense market budget is worth $15.9 billion in 2023 and is expected to achieve a CAGR of more than 1% during 2024-2028. The Turkish defense market research report provides the market size forecast and the projected growth rate for the next five years.
Turkey Defense Market Outlook 2023 – 2028 ($ Billion)
The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.
Market Size (2023) | $15.9 billion |
CAGR (2024-2028) | >1% |
Historical Period | 2019-2023 |
Forecast Period | 2024-2028 |
Key Sectors | Military Fixed-Wing Aircraft, Naval Vessels and Surface Combatants, Military Rotorcraft, Military Land Vehicles, Missiles and Missile Defense Systems, and Submarines |
Leading Companies | Turk Telekomunikasyon AS, Aselsan Elektronik Sanayi Ve Ticaret AS, FNSS Savunma Sistemleri AS, Baykar Technologies, Bogazici Yazilim AS, Elektroland Defence, Esetron, Hoytek, Kale Holding AS, ROKETSAN A.S., Sefine Shipyard, Turkish Technic Inc, Turksat AS, and Turmaks Group |
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Turkey Defense Market Dynamics
The reduction in foreign dependency for military equipment has been an influential factor resulting the Turkey Defense market growth. By 2023, the country’s goal is to have 75% of Turkish military requirements met by the domestic defense industry. This goal has subsequently led to significant government R&D investment in a number of locally-produced projects. The push to develop new technologies will help Turkey put out unique and innovative products into the export market, keeping its offerings competitive in the global marketplace. However, one area of development is in UAVs.
Some of the major procurement programs in the Turkey Defense market include the development of TF-X and TF-2000-class fighter aircrafts. However, factors such as bureaucratic issues, corruption and malpractices, and tumultuous economic performances might cause hindrances to the Turkey defense market growth during the projected period.
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Turkey Military Doctrines and Defense Strategies
The primary objective of the Turkish Security Policy is the preservation and protection of the independence and the territorial and national integrity of the republic, and all its rights emanating from international law and treaties. The key objectives of Turkey’s Security Policy include the protection of sovereignty and territorial integrity, reduction of international tensions, prevention with credible deterrence through threats or use of force, and surge in emphasis on contributions and benefits of collective security systems.
The 2019–23 Strategic Plan, published by the SSB, looks at some of the key goals and objectives relating to the Turkish armed forces as well as the defense industry within the five-year period. Turkey’s National Security Policy Document (MGSB), informally known as the ‘red-book’, is one of the most significant policy documents in relation to the country’s security strategy. This document reflects the defense policy ascribed by the National Security Council (NSC), the government agency tasked with looking at developing national security policy which includes foreign policy, domestic threats, and other military-related concerns.
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Turkey Defense Market Segmentation by Sectors
The key sectors in the Turkey defense market are military fixed-wing aircraft, naval vessels and surface combatants, military rotorcraft, military land vehicles, missiles and missile defense systems, and submarines among others. Between 2023 and 2028, the military fixed-wing aircraft segment is expected to be the leading sector in the Turkey defense market, followed by naval vessels and surface combatants.
Turkey Defense Market Analysis by Sectors 2023-2028 (%)
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Turkey Defense Market - Competitive Landscape
Some of the leading defense companies in Turkey are Turk Telekomunikasyon AS, Aselsan Elektronik Sanayi Ve Ticaret AS, FNSS Savunma Sistemleri AS, Baykar Technologies, Bogazici Yazilim AS, Elektroland Defence, Esetron, Hoytek, Kale Holding AS, ROKETSAN A.S., Sefine Shipyard, Turkish Technic Inc, Turksat AS, and Turmaks Group among others.
Key Segments Covered in this Report.
Turkey Defense Sector Outlook (%, 2023-2028)
- Military Fixed-Wing Aircraft
- Naval Vessels and Surface Combatants
- Military Rotorcraft
- Military Land Vehicles
- Missiles and Missile Defense Systems
- Submarines
Scope
The report provides an in-depth analysis of the following –
- Turkey defense budget: detailed analysis of the Turkey 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
- Regulation: the procurement policy and the process is explained. This is coupled with an analysis of the Turkey military doctrine and strategy to provide a comprehensive overview of Turkey military procurement regulation.
- Security Environment: political alliances and perceived security threats to Turkey are examined; there help to explain trends in spending and modernization.
- Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
- Competitive landscape and strategic insights: analysis of the competitive landscape of Turkey’s defense industry.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the Turkey defense market over the next five years.
- Gain an in-depth understanding of the underlying factors driving demand for different defense and internal security segments in the Turkey market and identify the opportunities offered.
- Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others.
- Identify the major threats that are driving the Turkey defense market providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
- Channel resources by focusing on the ongoing programs that are being undertaken by the Turkey government.
- Make correct business decisions based on an in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available.
Gölcük Naval Shipyard
BMC Otomotiv Sanayi ve Ticaret AS
Otokar Otomotiv ve Savunma Sanayi AS
Table of Contents
Frequently asked questions
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What is the Turkey defense market size in 2023?
The defense market size in Turkey is valued at $15.9 billion in 2023.
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What is the Turkey defense market growth rate?
The defense market in the Turkey is expected to achieve a CAGR of more than 1% during 2024-2028.
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What are the key sectors in the Turkey defense market?
The key sectors in the Turkey defense market are military fixed-wing aircraft, naval vessels and surface combatants, military rotorcraft, military land vehicles, missiles and missile defense systems, and submarines.
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Which are the leading companies in the Turkey defense market?
Some of the leading companies in the Turkey defense market are Turk Telekomunikasyon AS, Aselsan Elektronik Sanayi Ve Ticaret AS, FNSS Savunma Sistemleri AS, Baykar Technologies, Bogazici Yazilim AS, Elektroland Defence, Esetron, Hoytek, Kale Holding AS, ROKETSAN A.S., Sefine Shipyard, Turkish Technic Inc, Turksat AS, and Turmaks Group.
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