Three Turkish defence firms rank in global top 100, Israel leads region

Turkish defence companies Aselsan, Turkish Aerospace Industries (TAI) and Roketsan were ranked among the world’s top 100 defence firms by revenue for 2022.

Aselsan was listed 49th with $2.25 billion in income from its defence business last year, up from $2.18 billion in 2020, Defense News said in its 2022 rankings published on Monday.

TAI stood in 67th position with income of $1.3 billion, an increase from $1.26 billion in 2020. Roketsan entered the list in 86th -- its revenue rose an annual 42 percent to $814 million.  

Turkish President Recep Tayyip Erdoğan is seeking to expand the size of Turkey’s defence industry and render it more independent by developing indigenous products and technology and selling weapons abroad. The industry has become globally renowned for the Bayraktar armed drones produced by Baykar, which was not ranked in the list.

Ankara-based Aselsan, majority owned by the Turkish military, was ranked fourth in the Middle East region after Elbit Systems, Israel Aerospace Industries and Rafael Advanced Defense Systems. The three Israeli companies had income of $4.77 billion, $3.87 billion and $3.06 billion, respectively. The combined $11.7 billion revenue of the firms compared with $4.36 billion earned by the Turkish companies.

Lockheed Martin topped the global 100 with revenue of $64.5 billion, followed by Raytheon Technologies with $41.9 billion. The five largest companies were all based in the United States. The 10th-ranked firm, L3Harris Technologies, had revenue of $14.9 billion.

Three Chinese companies and one U.K. company -- BAE Systems -- were the non-U.S. firms ranked in the top 10. The largest Chinese contractor, the Aviation Industry Corporation of China, had revenue of $30.2 billion. BAE Systems earned $25.8 billion.

Defense News has been publishing the annual list since 2000.

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