Turkish revenues from export of defense-related products grow
The Turkish defense industry has been looking increasingly promising in recent years, as the country's defense product exports continue to grow. Come read our article to learn more.
Turkey has exported $233 million worth of defense equipment in the first two months of 2020, jumping to $400 million in the next two. The amount in these four months corresponds to 1.4% of the total Turkish products.
Therefore, the Turkish defense industry is gaining more potential, and many startups are remaining active in an organized industrial zone in Ankara. There is also a regionally pioneering company producing unmanned aerial vehicles in Istanbul. All these companies are interested in using high technology in their products, from drone technologies to artificial intelligence (AI).
Prospects for Turkey
The Turkish Army started using domestically produced weapons and other defense products to observe the Syrian border, which has created desired results. As a result, the Turkish government is providing incentives to develop this promising industry.
Turkey has increased investments in its army as a result of armed conflicts intensifying in the Middle East, which is a significant threat to the country. In particular, The Turkish government has followed a policy to improve the national defense services. The policy includes creating incentives for companies producing high technology and innovative products. Subsequently, the arms industry has also become attractive to startup businesses in the last decade.
Turkish defense companies have exported their products to Middle East countries and some Turkish republics, in which unmanned aerial vehicles have been an important product. With high technology, these vehicles enable national armies to easily carry out surveillance over a large area, and the Turkish defense industry can make a technology transfer to its country.
Canon CR-2 AF Digital Non-Mydriatic Retinal Camera
Obstacles for the Whole Industry
While the industry has made significant strides in recent years, there is still a significant challenge of imported inputs that are critical to the production of defense products. Because of its reliance on imports, the industry is unable to reach its full potential. Canada and Germany, for instance, have stopped exporting defense products to Turkey due to political conflicts in the area. As a result, in order to develop their arms industry, Turkish defense contractors must find effective solutions to this barrier.
Stay in the Loop with Export Portal
To find out more about how you can successfully trade at an international level, make sure to check out Export Portal’s Blog Page today!
Comments 2