ASELSAN signs €2.46bn deals for hybrid air-defence systems in its largest-ever contract

Turkish defence company ASELSAN has signed agreements worth €2.46 billion ($2.75 billion) with Türkiye’s Secretariat of Defense Industries for the procurement of hybrid air-defence systems, the company announced on Monday.

In a disclosure to the Public Disclosure Platform (KAP), ASELSAN said the agreements would have a positive impact on its revenues. The company listed October 5 as the expected start date of the new business relationship, but did not disclose a delivery schedule or further details about the systems covered.

The contracts are the largest single deal in ASELSAN’s 51-year history and bring its air-defence contracts signed since October 1 to nearly €4 billion, as Türkiye expands its “Steel Dome” integrated air-defence network. The Secretariat of Defense Industries accounted for 30.6% of ASELSAN’s net sales and 37.8% of its trade receivables in its latest disclosed financial statements.

Chief executive Ahmet Akyol said ongoing serial production efforts were further strengthening Türkiye’s Steel Dome air-defence system and enhancing protection of the country’s skies, describing Türkiye as one of the few countries capable of developing its own air-defence systems and pledging to keep working “day and night” towards an independent defence industry.