Defence and aerospace sector turnover reaches $12 billion

The third “Defence Sector Meeting”, held online, was organized by the İstanbul Chamber of Industry (İSO) and SAHA İstanbul, the largest defence cluster in Turkey, with a view to contributing to the “national and indigenous” structure of the defence sector. The online meeting, hosted by Erdal Bahçıvan, Chairman of ISO, on Thursday 21 January, 2021, was attended by Mustafa Varank, the Minister of Industry and Technology, and Prof. Dr. İsmail Demir, the President of Defence Industries, as well as members of the ISO Council and Professional Committees, and representatives of defence sector companies. Speaking at the meeting, Varank said: “The turnover of the Turkish defence and aerospace sector has increased to $12 billion, and our exports have reached $3 billion, compared to the $340 million recorded in 2005. Our local participation rates are increasing day by day, and we are targeting 75% local participation in 2023. Our investments over the last five years will make Turkey a giant in the field of defence.” Prof. Dr. Demir, the President of Defence Industries, said: “We aim to achieve nearly $27 billion in revenues and nearly $10 billion in exports, and to create more than 80,000 jobs in the defence sector by 2023. To this end, we are working at full speed to increase the competitiveness and technological development of the sector.”