Aselsan, Turkish Aerospace Industries (TUSAŞ), Baykar, Roketsan and MKE — have secured places in the Stockholm International Peace Research Institute’s (SIPRI) 2024 ranking of the world’s top 100 arms-producing and military services firms, marking a significant milestone in Türkiye’s growing influence in the global defense sector.
Aselsan rose to 47th place from 52nd the previous year, with arms revenues of $3.47 billion — a 24.4 percent increase compared with 2023. TUSAŞ climbed to 65th from 75th, with arms revenues of $2.16 billion, marking an 11.3 percent year-on-year increase.
Baykar, renowned for its drone production, recorded $1.9 billion in arms revenues and ranked 73rd on the list. Roketsan advanced from 92nd to 87th, boosting its arms revenues by 13 percent to $1.39 billion.
MKE made one of the most notable jumps, rising from 102nd to 93rd as its arms revenues grew 17.4 percent to $1.21 billion.
According to SIPRI, total revenues from arms and military services among the world’s 100 largest defense companies increased by 5.9 percent in 2024, reaching a record $679 billion.
The surge was driven by heightened demand linked to the wars in Ukraine and Gaza, escalating geopolitical tensions and rising military expenditures worldwide.
Lockheed Martin of the United States topped the list with $64.65 billion in arms revenues. It was followed by fellow U.S. firms RTX with $43.6 billion and Northrop Grumman with $37.85 billion. The U.K.-based BAE Systems ranked fourth with $33.79 billion, while General Dynamics of the U.S. rounded out the top five with $33.63 billion.