Aselsan surges to record valuation, outpacing global defense giants

ISTANBUL

Aselsan delivered a remarkable performance on Borsa Istanbul last year, rewarding its investors with a 220 percent gain and surpassing the stock market returns of many of the world’s leading defense companies.

The Turkish defense giant became the first company listed on the exchange to exceed a market capitalization of 1 trillion Turkish Liras, closing the year at 1.06 trillion liras and securing the top spot in the BIST 100 index.

Aselsan’s success was driven by its cutting-edge portfolio, which includes AESA radar technology, electro-optical systems, electronic warfare solutions, and artificial intelligence–powered platforms. The company has distinguished itself in areas where only a handful of firms worldwide are capable of production, cementing its reputation as a global leader in advanced defense technologies.

This momentum propelled Aselsan into the ranks of the world’s 20 most valuable defense companies and among the top 10 in Europe. Its international footprint expanded further as exports reached 95 countries, with three new markets added during the year.

Other Turkish defense stocks showed more modest gains, with Papilon Savunma rising 21 percent and Otokar edging up just 0.3 percent.

Globally: South Korea’s Hanwha Aerospace climbed 188.2 percent, Germany’s Rheinmetall 152.7 percent, Sweden’s Saab 130 percent, the U.K.’s Rolls-Royce 102.3 percent, Italy’s Leonardo 89.6 percent, Japan’s Mitsubishi Heavy 72.7 percent and the U.S.-based RTX Corporation 58.5 percent.

BAE Systems advanced 49.2 percent, France’s Safran 40.2 percent, Dassault Aviation 38.8 percent, Lufthansa 37 percent, Airbus 28.2 percent, General Dynamics 27.8 percent, Boeing 23.3 percent and Northrop Grumman 21.5 percent.