Borsa Istanbul’s most valuable company since the first half of 2025, Aselsan has agreed a set of record-breaking contracts in recent months.
The contract signed between Aselsan and the Presidency of Defense Industries (SSB) for the supply of hybrid air defense systems valued at 2.46 billion euros was disclosed to the Public Disclosure Platform (KAP) on Oct. 5, marking the largest single contract in the company’s 51-year history.
In its filing, Aselsan did not share the names, quantities, or delivery schedule of the systems to be procured. According to information obtained by Turkey in Depth from sources close to the matter, the hybrid air defense system that Aselsan will produce for the Turkish Armed Forces (TSK) will be Gürz, which combines the very low-altitude Korkut and the low and medium-altitude Hisar technologies on a single platform.
Aselsan exhibited the serial-production version of Gürz for the first time at SAHA 2026.
Having undergone test firing on Sept. 5, Gürz will be mounted on 6x6 and 8x8 vehicles and enter the TSK inventory in 2027.
Aselsan designed Gürz as an advanced version of Russian Pantsir and manufactured it to be compatible with NATO systems.
CONSECUTIVE MULTI-BILLION DOLLAR CONTRACTS
One of the prime contractors for Turkey’s multi-layered Steel Dome (Çelik Kubbe) air defense project, Aselsan received 4.2 billion euros in air defense system orders in 2026 from both the TSK and foreign countries.
Aselsan signed a contract totaling 1.47 billion euros with the SSB on July 10, in addition to ongoing serial production projects for air defense systems; a 1.23 billion euro contract with Roketsan on Sept. 23 for the supply of sub-components to be used in air defense systems; a 1 billion euro contract with the SSB on Oct. 1 for the serial production of long-range air defense systems; and a 488.5 million euro contract on Oct. 2 with an undisclosed overseas end-user regarding the export of air defense systems.
President Recep Tayyip Erdoğan announced during the NATO summit in Ankara in July that an additional budget of 24 billion dollars had been allocated to air and missile defense capabilities for the Steel Dome Project.
Also, Aselsan announced on Oct. 6 that it signed sales contracts for its overseas end-users with a total amount of $157.9 million regarding the export of electronic warfare, electro-optic, seeker head, surveillance and reconnaissance, communication, and weapon systems, and in addition on Oct.7 regarding the procurement of radar systems, $195 million agreement with the SSB.
Finally, on Oct 8, Aselsan announced that it has signed a sales contract with a total value of $125 million for the export of weapon and electronic warfare systems to an overseas end-user.
TWO AGREEMENT SIGNED WITH AZERBAIJAN
At ADEX 2026 held in Baku, Aselsan signed a memorandum of understanding to supply the Alp 100 active electronically scanned array (AESA) air surveillance radar to the Azerbaijani Air Force.
A preliminary agreement was also signed between Aselsan, Aselsan Baku LLC, and Novasis MMC regarding the establishment of a production facility in Azerbaijan. Under the agreement, which includes technology transfer, LGK laser guidance kits, Tolun precision-guided munition, and Korkut air defense systems will be produced at the facility to be established in Nakhchivan.
“We are currently one of the three or four fastest-growing companies in the world. We rank first or second in Europe. While everyone else is walking, we are running ahead,” CEO of Aselsan Ahmet Akyol said at the Teknofest aviation and technology event held in Şanlıurfa last week.
