ASELSAN surges ahead of global defense giants in first quarter

ISTANBUL

Türkiye’s leading defense contractor ASELSAN has emerged as a standout performer in the first quarter of 2026, surpassing many of its international counterparts with remarkable gains on the stock market.

Investor sentiment was shaped by heightened geopolitical tensions worldwide, which boosted defense and aerospace shares across multiple regions.

ASELSAN delivered a return of 38.2 percent to shareholders during the quarter, closing with a market capitalization of 1.46 trillion Turkish Liras. The company now holds the top spot on the Borsa Istanbul BIST 100 index in terms of market value. Beyond its financial strength, ASELSAN continues to play a pivotal role in advancing Türkiye’s defense technology, reinforcing its position as both an industrial and strategic leader.

The company’s 2025 revenue reached 180.4 billion liras, reflecting a 15 percent increase in real terms compared to the previous year. Export performance was equally striking, with ASELSAN securing more than $2 billion in new contracts, a 104 percent jump year-on-year. Its backlog also expanded significantly, climbing 46 percent to $20.4 billion.

Global defense firms also posted strong results, though ASELSAN’s performance outpaced many.

South Korea’s Hanwha Aerospace recorded a gain of 32.7 percent. BAE Systems followed with an increase of 28.4 percent. Lockheed Martin rose 25 percent, while Northrop Grumman advanced 19.6 percent. Italy’s Leonardo achieved 18.1 percent, and France’s Dassault Aviation climbed 16.6 percent. Türkiye’s SDT Space and Defense delivered a 15.3 percent return. Saab added 14.8 percent, and Mitsubishi Heavy posted a 10 percent rise. By comparison, RTX Corporation in the U.S. managed only 5.2 percent, while General Dynamics saw a modest 1.9 percent gain.