Turkish defence major Aselsan's backlog increased to a record high US$ 11.1 Billion, according to the company's 2024 first quarter financial report. Net sales grew by 5% compared to the first quarter of 2023, touching 15.1 Billion TL, while gross...
To read the full article, please log in or enter your email below:
Turkish defence major Aselsan's backlog increased to a record high US$ 11.1 Billion, according to the company's 2024 first quarter financial report. Net sales grew by 5% compared to the first quarter of 2023, touching 15.1 Billion TL, while gross profit increased to 4.4 Billion TL, up 3% from the same period last year.
The company's EBITDA rose by 3%, reaching 3.4 Billion TL, with an EBITDA margin of 22%. Aselsan's equity to assets ratio remained robust at 63%.
“As Aselsan, we made a strong start to 2024 in line with our export-oriented growth strategy," said CEO Ahmet Akyol. "We made a great contribution to both our national defence ecosystem and our economy in the first quarter. We reached the highest backlog figure in our history. We left behind a productive period in which we have accomplished firsts in terms of Türkiye's technological independence.
"Within the scope of the Project of Adding Additional Capabilities to Tanks, we equipped our M60T tanks with Aselsan's advanced technology," Akyol added. "We witnessed Türkiye's first national combat aircraft KAAN, powered by our superior avionics systems, making his first flight. We introduced the Low Frequency Active Sonar System (DÜFAS), our country's first national anti-submarine warfare sonar, to our navy. We have successfully completed the first diving tests of the Autonomous Underwater Vehicle DERİNGÖZ, which will create a huge force multiplier for our dominance in the seas. Recently, we added MARLİN Unmanned Marine Vehicle and YENER Mine Detection System to the inventory. "
The company has integrated its MURAD Aircraft Nose Radar into the F-16 platform and started test flights, Akyol said. "We signed the first export contract for our TOLUN Guided Munition. We made the first export of the ASELFLIR-500 EO Reconnaissance, Surveillance and Targeting System, which provides higher performance than its equivalents, at the beginning of the year. We delivered the Portable Early Warning Radar System (ALP 300-G), which is the longest-range radar of our country. In addition, we have presented game-changing systems to our country in the civilian field as well. In this context, we developed Mobile X-Ray Device (ADR-M100) for our clients."
Currently, more than 500 products made by the company are used in Türkiye and around the world. The company has a global presence, from Malaysia to Chile, from South Africa to Kazakhstan.
"We have created roadmaps that we will follow until 2030 in our products and technologies.," Akyol said. "We initiated four major investments exceeding 400 Million USD to increase our mass production capacity and capabilities. Our primary goal is to make Aselsan one of the top 30 defence industry companies in the world. We will achieve this goal with our state-of-the-art technology, highest quality and efficient production, and exponential export growth.”
Scoot, the low-cost subsidiary of Singapore Airlines, is ramping up its flight frequencies and increasing passenger capacity across its Asia-Pacific…
Bangkok Airways Public Company Limited and PTT Oil and Retail Business Public Company Limited (OR) have signed a Letter of…
Deutsche Aircraft has selected American Data Solutions (ADS) to provide technical publication management solutions for its next-generation regional turboprop, the…
Mongolia's Hunnu Air has commenced scheduled services using the Embraer E195-E2 aircraft, with its inaugural flight from Ulaanbaatar to Beijing…
The Philippines and South Korea are reportedly close to finalising an agreement for the acquisition of 12 additional FA-50PH Block…
Malaysia's Lumut Naval Shipyard (LUNAS) has confirmed that the second vessel in the Royal Malaysian Navy’s Maharaja Lela-class Littoral Combat…
New Horizon Aircraft, developer of one of the world's first operationally-focused hybrid-eVTOL (electric Vertical Take-Off and Landing) aircraft, announced that…
Rheinmetall and ICEYE signed a memorandum of understanding (MoU) on 8 May 2025, to establish a joint venture (JV) focused…
FLUX GmbH, a Germany-based manufacturer of high-precision encoders, has appointed SEUM Tronics as its distribution partner in South Korea as…
Korean Air and Delta Air Lines will acquire minority stakes in Canadian carrier WestJet, further deepening their respective partnerships with…
The Singapore Airlines (SIA) Group has signed separate agreements with renewable fuel producers Neste and World Energy to purchase Sustainable…
The UK’s Military Aviation Authority has issued a Military Type Certificate to the Royal Air Force’s Protector RG Mk1 uncrewed…
In a decisive escalation of hostilities, India Thursday struck key Pakistani air defence systems in response to a major overnight…
thyssenkrupp Marine Systems has signed a contract with Singapore’s Defence Science and Technology Agency (DSTA) for the construction of two…
Terma and Lockheed Martin have signed a Memorandum of Understanding (MoU) aimed at expanding their cooperation across defence and aerospace…
HENSOLDT has concluded a second round of data collection as part of the European research and development initiative STORE (Shared…
The Emirates Group has reported its strongest financial performance to date for the year ending 31 March 2025, with record…
The Indian Navy is participating at the ongoing IMDEX with its Anti-Submarine Warfare Corvette INS Kiltan, which is part of…
Israeli firm DSIT Solutions Ltd. (DSIT) launched an advanced version of its PointShield System, for detection of manned and unmanned…
Saab Australia (Saab) and ST Engineering have entered into a teaming agreement at the ongoing IMDEX to deliver deployable health…
ST Engineering announced at the recent IMDEX that it has been awarded contracts by MINDEF to deliver a Suite of…
EUROATLAS, headquartered in Bremen, Germany, has debuted a full-scale mockup of its Greyshark Autonomous Underwater Vehicle (AUV), at the ongoing…
In the wee hours of May 7, India executed a coordinated, multi-branch military operation named Operation Sindoor, striking nine terrorist-linked…
ELT Group is participating in AOC Europe 2025, which takes place in Rome from 6 to 8 May. The company…
The inaugural day of the ongoing IMDEX Asia witnessed the participation of two Indonesian Navy (TNI Angkatan Laut – TNI…
ELT Group is showcasing its solutions for protecting naval and maritime assets, enhancing power projection at sea, and contributing significantly…
Saab (Saab Kockums AB) and ST Engineering’s Marine business entered into a Memorandum of Understanding on the inaugural day of…
Rafael Advanced Defence Systems is eyeing regional requirements for its new Typhoon Mk30 C-UAS Remote Controlled Weapon System (RWCS) which…
The 14th International Maritime Defence Exhibition and Conference Asia (IMDEX Asia) has grown dramatically from its modest origins in 1997,…
After saving numerous unmanned and manned aerial systems by operating an automatic parachute recovery system, Israeli company ParaZero has applied…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2025 GBP all rights reserved.