Market Size of Aerospace And Defense Industry Of Turkey
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 15.27 Billion |
| Market Size (2029) | USD 16.17 Billion |
| CAGR (2024 - 2029) | 1.15 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Turkish Aerospace and Defense Market Analysis
The Aerospace And Defense Industry Of Turkey Market size is estimated at USD 15.27 billion in 2024, and is expected to reach USD 16.17 billion by 2029, growing at a CAGR of 1.15% during the forecast period (2024-2029).
Turkey is one of the major hubs for transcontinental travel as the country is located between the West (Europe) and the East (Asia and the Middle East). The country is also located to the north of the globe, allowing quicker trans-artic travel to North America. This factor drives the aviation industry in Turkey. Turkey had 12% of commercial aircraft deliveries out of the total aircraft delivered in Middle East & Africa during 2018-2022. As of 2022, Turkey’s active business jets accounted for 12% of the Middle East and African fleet.
The growing passenger traffic in the country is propelling the demand for new commercial aircraft from the airlines operating in the country, such as Turkish Airlines, SunExpress, Pegasus Airlines, Onur Air, Corendon Airlines, and Anadolujet. Thus, the growth in passenger traffic is increasing the demand for new commercial aircraft in the country. The government's emphasis on domestic manufacturing has been increasing rapidly, and currently, the country's product portfolio includes UAVs, cruise missiles, and armored vehicles, among others.
However, the market may be marred by challenges such as brain drain, the ongoing currency crisis, dependence on foreign suppliers, and regional political disputes. Nevertheless, since Turkey is a part of the NATO alliance, its aerospace and defense industry is likely to be in sync with the adoption of advanced resources by the other NATO partners.
Turkish Aerospace and Defense Industry Segmentation
The study accounts for the Turkish aerospace and defense industry developments on critical systems and components of aircraft, UAVs, armored vehicles, air defense systems, naval vessels, and satellites, among others.
The Turkish aerospace and defense market is segmented by industry and type. Based on industry, the market is segmented into manufacturing, design and engineering, and maintenance, repair, & overhaul (MRO). Based on type, the market is segmented into aerospace and defense. The report offers the market size in value terms in USD for all the abovementioned segments.
| Industry | |
| Manufacturing, Design, and Engineering | |
| Maintenance, Repair, & Overhaul |
| Type | |
| Aerospace | |
| Defense |
Aerospace And Defense Industry Of Turkey Size Summary
The Turkish aerospace and defense industry is positioned as a significant player in the global market, driven by its strategic geographical location that facilitates transcontinental travel and its growing passenger traffic. The country's aviation sector benefits from its central position between Europe, Asia, and the Middle East, as well as its northern location, which enhances trans-arctic travel to North America. This strategic advantage has led to a substantial demand for new commercial aircraft, with major airlines like Turkish Airlines, SunExpress, and Pegasus Airlines expanding their fleets. The government's focus on increasing domestic manufacturing capabilities has resulted in a diverse product portfolio, including UAVs, cruise missiles, and armored vehicles. Despite challenges such as brain drain, currency fluctuations, and regional political tensions, Turkey's membership in NATO aligns its aerospace and defense industry with the advanced technological standards of other NATO countries.
The defense segment of Turkey's aerospace and defense industry is expected to maintain its dominance, supported by the country's increasing military expenditure and development of advanced military technologies. Turkey is actively producing combat aircraft, naval vessels, and various defense systems to bolster its armed forces. The market is characterized by a fragmented landscape with key players such as ASELSAN, BMC Otomotiv, TUSAS, KOC Holding, and HAVELSAN. The removal from the F-35 program has intensified Turkey's efforts to enhance its domestic manufacturing capabilities, aiming for independence from foreign suppliers by 2023. The government's robust initiatives and investments in research and development are anticipated to strengthen the market presence of Turkish companies, furthering their share in the global aerospace and defense industry.
Aerospace And Defense Industry Of Turkey Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Turkish Economy Outlook
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1.2 Import and Export of Aerospace and Defense
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1.3 Airport Infrastructure Investment
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1.4 Commercial and General Aviation Procurement Plans
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1.5 Defense Spending Analysis
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1.6 SWOT Analysis
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2. MARKET SEGMENTATION
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2.1 Industry
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2.1.1 Manufacturing, Design, and Engineering
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2.1.2 Maintenance, Repair, & Overhaul
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2.2 Type
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2.2.1 Aerospace
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2.2.2 Defense
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Aerospace And Defense Industry Of Turkey Market Size FAQs
How big is the Aerospace And Defense Industry Of Turkey Market?
The Aerospace And Defense Industry Of Turkey Market size is expected to reach USD 15.27 billion in 2024 and grow at a CAGR of 1.15% to reach USD 16.17 billion by 2029.
What is the current Aerospace And Defense Industry Of Turkey Market size?
In 2024, the Aerospace And Defense Industry Of Turkey Market size is expected to reach USD 15.27 billion.
