Five Turkish defence manufacturers — Aselsan, Turkish Aerospace Industries (TUSAŞ), Baykar, Roketsan and MKE — have been ranked among the world’s top 100 arms producers, according to the Stockholm International Peace Research Institute’s (SIPRI) 2024 report, underscoring Türkiye’s expanding role in the global defence industry.
Aselsan rose to 47th place from 52nd a year earlier, posting $3.47 billion in arms revenues, a 24.4% increase from 2023. TUSAŞ climbed to 65th from 75th with $2.16 billion in revenues, up 11.3% year-on-year.
Baykar, known for its combat drones, reported $1.9 billion in arms sales and ranked 73rd. Roketsan advanced to 87th from 92nd after growing its revenues by 13% to $1.39 billion. MKE, which moved from 102nd to 93rd place, recorded a 17.4% rise in arms revenues to $1.21 billion.
SIPRI said total arms and military services revenues among the world’s 100 largest defence firms rose 5.9% in 2024 to a record $679 billion, driven by increased demand linked to the wars in Ukraine and Gaza, as well as heightened geopolitical tensions.
U.S. companies dominated the list. Lockheed Martin ranked first with $64.65 billion in arms revenues, followed by RTX with $43.6 billion and Northrop Grumman with $37.85 billion. Britain’s BAE Systems was fourth with $33.79 billion, while U.S.-based General Dynamics placed fifth at $33.63 billion.