Aselsan’s order backlog tops $30 billion

ISTANBUL

Aselsan’s order backlog exceeded $30 billion for the first time at the end of September, as the Turkish defense company expanded production capacity to meet growing demand.

The company secured $14 billion in new contracts in the first nine months of 2026, according to financial results released on Oct. 27.

New export contracts rose 34 percent from a year earlier to $1.9 billion.

Revenue increased 28 percent in real terms to 151.5 billion Turkish Liras, supported by demand for air defense, radar, electronic warfare, guided munitions and communications systems.

Investment in production capacity and technology rose 228 percent to $684 million.

The first phase of the Oğulbey Technology Base began operating during the period, while other investments included new production facilities and expanded robotics and automation.

“We are not waiting for orders to outstrip our capacity,” Chief Executive Ahmet Akyol said, adding that the priority was to turn the growing order book into timely deliveries.

Research and development spending increased 36 percent to $1.3 billion, with investment focused on satellite technology, quantum computing, underwater systems and microelectronics.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 38 percent to 40.6 billion liras.

The margin widened by 1.9 percentage points to 26.8 percent.