Newsletters
Defense technology giant Aselsan became the first company on the Borsa Istanbul 100 index to surpass a ₺1 trillion ($24.11 billion) market value this week, a milestone driven by record financial performance and strong investor confidence.
The achievement follows a significant surge in the company's stock price, which climbed from ₺72.5 ($175) at the start of the year to ₺220.8.
This performance outpaces a broader rally in Turkish markets, where the BIST 100 index reached a record 11,605.30 points on Aug. 26 amid easing global risks and a favorable domestic economic environment.
Aselsan's growth is bolstered by its export-focused strategy, notably the aselsaneXt program launched in 2024. The initiative, announced by Chief Executive Officer Ahmet Akyol, centers on developing best-in-class products, pioneering game-changing technologies, and expanding international sales.
The company has successfully positioned itself as a leader in high-value defense technologies. Unlike conventional arms manufacturers, Aselsan specializes in advanced systems, such as new-generation AESA radars, electro-optical systems, and artificial intelligence-supported platforms, according to company documents.
This focus on technology has attracted significant interest from investors. The company's research and development expenditures nearly doubled from $500 million in 2020 to almost $1 billion in 2024.
This investment yields products with extremely high export value, with some systems exceeding $20,000 per kilogram, compared to the national average of $1.5.
1 min read
Aselsan has secured a historic $16 billion in order backlogs. The company signed $6.5 billion in new contracts in 2024 and an additional $2.8 billion in the first half of 2025. Export agreements also reached a record $1 billion in 2024, with an additional $1.3 billion signed in the first six months of this year.
Financially, the company's net profit grew 45% in 2024 to ₺15.2 billion. In the first half of 2025, revenue increased 11% to ₺53.7 billion, while net profit rose 30% to ₺6.4 billion.
This robust performance has provided a 247% return in U.S. dollar terms to its shareholders since the beginning of 2024, significantly outperforming the Dow Jones Defense Index’s 61% gain.
As it works toward its goal of becoming a top 30 global defense company by 2030, the firm's impressive Aselsan market value reflects its critical role in both the Turkish defense industry and its capital markets.
2 min read
