Arms industry

Türkiye was among the world's top military spenders in 2023, according to a new report by the Stockholm International Peace Research Institute (SIPRI).

The country's military spending amounted to $15.8 billion last year, ranking 22nd in the world, climbing one spot from 2022.

Türkiye's share in global arms exports increased from 0.7 percent in 2014-2018 to 1.6 percent in 2019-2023, according to a report by the Stockholm International Peace Research Institute (SIPRI).

This marked a staggering 106 percent change between the two periods.

Türkiye ranked 11th largest exporter in the world in 2019-2023.

Bulgaria has experienced a staggering increase in arms imports, rising by 920% between 2019 and 2023 compared to the period of 2014 to 2018. This significant surge in arms procurement was revealed in a report by the Stockholm International Peace Research Institute (SIPRI), highlighting a notable shift in Bulgaria's defense strategy.

Some 63 Turkish companies attended the second edition of the World Defense Show that was held in Saudi Arabia's Riyadh between Feb. 4 and 8.

Türkiye was the second-largest country in terms of the number of companies present at the fair, said Haluk Görgün, the president of Defense Industries.

Canada announced Monday it would no longer bar certain arms exports to Türkiye, a move that comes approximately a week after Ankara ratified Sweden's NATO membership.

Permits for military items and certain types of weapons destined for Türkiye "will now be reviewed on a case-by-case basis," the Canadian government said in a notice to exporters.

Türkiye has increased its annual exports of defense industry products by 27 percent in the year 2023, the head of the defense industry presidency has said, informing that around 230 different products were sold to 185 countries in the world.

The Turkish defense and aerospace industry's exports climbed to an all-time high of $5.55 billion last year.

The industry's export revenues increased by 27 percent in 2023 from 2022, capturing a 2.3 percent share in Türkiye's total exports last year.

In 2023, the country's exports hit a record $255.8 billion, rising from $254.2 billion in 2022.

With a combined arms revenue of $5.5 billion, four Turkish companies, namely Aselsan, Baykar, Turkish Aerospace Industries and Roketsan, have made it to the Stockholm International Peace Research Institute's (SIPRI) Top 100 list for 2022 — two more than in 2021.

Baykar (ranked 76th) and Roketsan (ranked 100th) entered the Top 100 for the first time.

Global military spending rose to a record last year because of Russia's war on Ukraine. Annual military spending in Europe is at its highest level since the end of the Cold War three decades ago. This was announced in a statement today by the Stockholm International Peace Research Institute (SIPRI), quoted by Reuters.

Russia's cyber war against Ukraine has largely failed, and Moscow is increasingly targeting Kyiv's European allies, US and French analysts say.

French defense firm Thales said in a report that Russia is striking Poland, the Nordic and Baltic countries with an arsenal of cyber weapons aimed at sowing division and promoting anti-war messages.