Annualized data in defense and aviation exports signals a record
The year-on-year increase in Turkey's defense and aviation sector export figures draws attention.
Turkey's annualized defense and aviation exports reached 10 billion 941 million dollars with a 30 percent increase, signaling a new record.
Record Signal in Annualized Exports
Turkey's annualized defense and aviation exports showed a 30 percent increase and reached 10 billion 941 million dollars. This amount, reached at the end of the third quarter, strengthened the probability that exports will exceed 10 billion dollars.
September and Nine-Month Data
According to TIM data, defense and aviation exports in September were recorded at 634.1 million dollars, with an increase of 10.7 percent compared to the same month of the previous year. Exports in the nine-month period of the year increased by 15.6 percent to reach 6.9 billion dollars.
Leadership in Growth Among Sectors
As of September, annualized exports became the area with the highest export growth among all sectors, with an increase of 29.9 percent. This figure indicated that the sector's record broken in the previous year would be refreshed.
Position in Global Ranking
With these figures in defense and aviation exports, Turkey rose to the 11th position in the global ranking. Countries such as Russia, the USA, France, Germany, and China carry the majority of global exports.
Diversity of Exported Products
The main items, which in the past consisted of land vehicles and general aviation products, have diversified in recent years with the strong contribution of ammunition, unmanned aerial vehicles, naval platforms, and air defense systems.
Change in Global Market Share
According to SIPRI analyses, Turkey's share in global defense and aviation exports rose from 0.8 percent to 1.8 percent alongside the 10-year change.