Three Turkish Companies Make SIPRI's List of Top 100 Arms Manufacturers

According to the Stockholm International Peace Research Institute (SIPRI), only six companies from the world's top 100 defense equipment manufacturers are based in the Middle East, three of which are from Turkey. The Turkish companies that made the list are Aselsan (IS:ASELS), Baykar, and TUSAŞ.

The arms sales revenue of the three companies based in Turkey rose by 24% in 2023, reaching $6.0 billion, benefiting from exports triggered by the war in Ukraine and the Turkish government's ongoing progress toward self-sufficiency in arms production.

Aselsan, which ranked 62nd in the list in 2022, moved up to 54th, while Baykar climbed from 79th to 69th, and TUSAŞ improved its position from 88th to 78th.

The arms revenue of the three Israeli companies in the top 100 reached $13.6 billion, marking the highest figure recorded by Israeli firms in the SIPRI Top 100 to date.

Dr. Diego Lopes da Silva, Senior Researcher at the SIPRI Military Expenditure and Arms Production Program, stated, "The largest Middle Eastern arms producers in the Top 100 saw their arms revenues reach unprecedented levels in 2023, and growth seems likely to continue." In particular, Israeli arms manufacturers are not only achieving record arms revenue in 2023 but are also receiving significantly more orders as the conflict in Gaza continues and expands.