TUSAŞ expanding into foreign markets, sets sights on $4.3 billion in revenues
Turkish Aerospace Industries (TUSAŞ) has unveiled a 10-year strategic vision aimed at bolstering revenue, expanding market presence, and accelerating aircraft production. Mehmet Demiroğlu, the company's general manager, disclosed these ambitious plans during the presentation of TUSAŞ's long-term strategy.
Key to this growth strategy is an ambition to increase TUSAŞ's revenue from around $3 billion last year to $4.3 billion by 2025. Demiroğlu further outlined a more ambitious long-term goal to reach $12 billion in revenue by 2034.
Expansion into new markets is a crucial part of TUSAŞ's growth strategy. In this regard, Demiroğlu highlighted ongoing efforts to establish a footprint in Algeria, Saudi Arabia, Nigeria, and Brazil, in addition to existing offices in the US, Germany, France, Spain, Azerbaijan, Kazakhstan, Pakistan, Malaysia, and Indonesia.
The KAAN project, TUSAŞ's homegrown fighter jet, is a major focus for the company. Demiroğlu stated that the production of two prototypes was ongoing, with the second prototype expected to take flight by the end of 2025 or early 2026, followed by the third prototype shortly thereafter. By 2025, TUSAŞ plans to have at least two KAAN jets airborne, with the ultimate goal of three operable by the end of the year. After thorough testing, the company plans to produce another three KAAN jets, with deliveries to the Turkish Air Force scheduled to commence by the end of 2028 or early 2029.
The company currently has 83 ANKA unmanned aerial vehicles and 92 ATAK helicopters in service. Additionally, TUSAŞ has secured 55 orders for the HÜRKUS training aircraft, with 10 of these orders set to be fulfilled this year. Spain recently signed an agreement to purchase those aircraft, keeping with TUSAŞ's hope to sign contracts with both Spain and the Turkish Air Force for over 100 units this year.
TUSAŞ aims to produce 500 KAAN, HÜRJET, and HÜRKUS aircraft by 2034, and an additional 350 GÖKBEY, ATAK, and ATAK-2 helicopters and similar platforms. The company expects to produce nearly 600 platforms, including the ANKA-3, ANKA-1, Aksungur, and similar models.
The strategic vision of Turkish Aerospace Industries (TUSAŞ) encompasses a significant increase in revenue from the current $3 billion to $12 billion in the finance sector by 2034, with a fast-tracked aircraft production rate in the aerospace industry. To achieve this growth, TUSAŞ plans to penetrate new markets such as Algeria, Saudi Arabia, Nigeria, and Brazil, while nurturing existing business relationships in countries like the US, Germany, France, Spain, Azerbaijan, Kazakhstan, Pakistan, Malaysia, and Indonesia.
