Skip to content

Defense industry exports reach $5.5B, target $7B, says Turkish VP Yilmaz

Defense industry exports reach $5.5B, target $7B, says Turkish VP Yilmaz Türkiye's Vice President Cevdet Yilmaz speaks during a press conference to unveil a savings measures package in Ankara, Türkiye, May 13, 2024. (Reuters)
By Ihlas News Agency
Jul 10, 2024 2:45 PM

Vice President Cevdet Yilmaz announced that defense industry exports have reached $5.5 billion, stating: “As of last year, our defense industry exports amounted to $5.5 billion.

This year, we expect it to rise to $7 billion. This is truly significant. While Türkiye was once a technology market, it has now become a technology-exporting country.”

Yilmaz attended the opening ceremony of the METU Research Centers. In his speech at the ceremony, Yilmaz emphasized that Türkiye was 80% dependent on foreign sources in the defense industry 20 years ago, saying: “This is very important not only for our country’s security but also for its independence.

The advancements and developments we have achieved in this field are processes that support and strengthen our country’s true independence. In this regard, we consider the defense industry very important.”

Defense industry export target: $7B

Describing the technological developments in the last 20 years as a revolution, Yilmaz said: “As of last year, our defense industry exports amounted to $5.5 billion. This year, we expect it to rise to $7 billion. This is truly significant. While Türkiye was once a technology market, it has now become a technology-exporting country.”

“These advancements not only reinforce our security in the fight against terrorism or international competition but also contribute greatly to building a high value-added economy,” he added.

‘We will continue with our projects’

Yilmaz emphasized that the advancements in the defense industry eventually contribute to civilian production, which in turn raises the country’s prosperity, stating: “These developments are very valuable not only for our security but also for our prosperity. We will continue with these projects.”

Defense industry exports reach $5.5B, target $7B, says Turkish VP Yilmaz
Vice President Cevdet Yilmaz, Ankara, Türkiye, July 10, 2024 (IHA Photo)

“Our economic goal is to build a high value-added production and export structure and to permanently increase social welfare through this. I would like to express that these projects significantly contribute to our goals,” Yilmaz continued.

“In 2002, we had only 62 defense industry projects and a project portfolio worth $5.5 billion. Today, we have thousands of projects, and the ongoing projects have a total value exceeding $96 billion,” the vice president concluded.

Last Updated:  Jul 10, 2024 3:25 PM