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Interview

``Export-Oriented Growth is at the Core of ASELSAN`s 2030 Goals!``

During the Farnborough 2024 International Airshow (FIA24), I had the opportunity to conduct an exclusive interview with Ahmet AKYOL, the CEO of ASELSAN, the flagship of Türkiye`s Defense and Aerospace Industry, after a long break. We want to extend our gratitude to Mr. Ahmet AKYOL on behalf of our readers for taking the time out of his busy schedule at Farnborough to answer my questions and share information about the company`s 2030 goals and critical ongoing projects.

Date: Issue 134 - October 2024

ASELSAN, who had previously attended Farnborough as a visitor, participated as an exhibitor for the first time this year with a 250 square-meter booth. The company showcased scale models of more than 50 indigenous products across six different technology areas: Electronic Warfare Systems, Radar Systems, Avionics Systems, Guidance Kits, Communication Systems, and Electro-Optical Systems. As one of the few companies in the world capable of providing end-to-end solutions for Land, Sea, and Air Platforms, ASELSAN achieved a revenue of $3,186 Billion in 2023 (94% of which came from defense product sales). This achievement led to ASELSAN rising five places on the world’s top 100 defense companies list, securing the 42nd position (it was ranked 47th based on 2022 sales). Currently operating in 18 countries globally, ASELSAN is set to expand its international presence to 22 countries soon.

Thanks to its dedicated efforts, ASELSAN has become one of the world's top 10 fastest growing defense companies. On September 10, 2024, the company released its "2024 First Half-Year Financial Results Note," which included inflation-adjusted financial outcomes for the first six months of 2024. According to the data, ASELSAN's revenue in the first half of 2024 grew by 8% compared to the same period last year, reaching TRY 35,7 Billion. The company's net profit also increased significantly, rising by 133% compared to the same period last year, reaching TRY 3,6 Billion. In addition, the value of new contracts signed in the first half of 2024 increased by 124% compared to the same period last year, reaching $2,6 Billion. As a result, ASELSAN's backlog, which was $11 Billion at the end of 2023, increased by 11%, reaching $12,3 Billion. When we look at the customer distribution of the 2024 First Half-Year Backlog, we see that 37% of the orders come from the Secretariat of Defense Industries (SSB), 5.8% from the Ministry of National Defense (MSB), 23.3% from TUSAŞ, 11.1% from BMC, 6.1% from the TAIS OG and STM Partnership, 4.5% from other sources, and 12.2% from international orders. Regarding the distribution of international orders, 4.7% of these come from the Middle East and Asian countries, 3.8% from Europe and the Americas, 0.8% from African countries, and 2.9% from Turkic Republics.