Turkey has increased its investments in the arms market, stepping up to be a global player.
The combined arms sales of two top Turkish defense companies, ASELSAN and the Turkish Aerospace Industries (TAI), soared 24 percent in 2017 year-on-year, according to a report published by the Stockholm International Peace Research Institute (SIPRI) on Monday.
They were both enlisted in the "Top 100 arms producing and military services companies" rating list for 2017.
The report, which includes both domestic and foreign sales, said ASELSAN and TAI's sales in 2017 amounted to $1.42 billion and $1.22 billion, respectively.
“This significant increase reflects Turkey’s ambitions to develop its arms industry to fulfil its growing demand for weapons and become less dependent on foreign suppliers,” said a senior research in Arms and Military expenditure programs at the Stockholm International Peace Research Institute.
SIPRI also listed Turkey in the "emerging producers" category, along with Brazil and India.
U.S. company Lockheed Martin remained the world's largest arms producer in 2017, with sales of $44.9 billion.
