Aselsan inks deal with Baykar

Aselsan, Türkiye's largest defense company, has signed an agreement with Baykar, the maker of Bayraktar drones, for electro-optical systems.

"An order has been received from Baykar Makina for electro-optical system deliveries with a total amount of $17.55 million," Aselsan announced in a filing with Borsa Istanbul.

Deliveries of the systems will be made in 2023 and 2024, the statement added.

"Canada had imposed an embargo because of our support for Azerbaijan which fought to liberate Karabakh. We are now using the electro-optical systems developed by Aselsan on our unmanned combat aerial vehicles, which we export," said Haluk Bayraktar at Baykar.

To date, locally developed CATS (common aperture targeting systems) have been exported to 12 countries, Bayraktar said.

The deal signed with Baykar Makina corresponds to 2.1 percent of the net sales disclosed in Aselsan's latest income statement, the filing explained.

Earlier this month, Aselsan announced another large agreement it sealed with the Turkish Presidency of Defense Industries, amounting to 501 million Turkish Liras and $27 million regarding the stationary early warning radar system project to be delivered in 2026 and 2027.