Manufacturing Turkey holds 65% of global drones market By Pramod Kumar December 16, 2024, 11:49 AM Reuters/Aziz Karimov Turkey's Baykar is supplying TB2 drones to 34 countries and the Akıncı heavy combat drone to 10 Turkey accounts for 65 percent of the global unmanned aerial vehicle (UAV) market, a senior executive with drone maker Baykar has said. The company alone commands nearly 60 percent of this market, Daily Sabah reported, citing chairman and chief technology officer Selcuk Bayraktar. Baykar has been the world’s largest drone company for three consecutive years and is three times larger than its closest American competitor, he said. The company contributed one-third of the sector’s record $5.5 billion worth of sales last year. Baykar’s TB2 drones are among the most exported combat drones in the world, Bayraktar said, adding that 90 percent of Baykar’s revenue came from foreign markets. Turkish builders sense opportunity in Syria Turkish arms exports up 19% year on year Turkish electric vehicle sales up 39% in a year The Istanbul-headquartered company increased its exports to $1.8 billion in 2023, up from $1.2 billion a year earlier. By August, the company signed agreements to supply TB2 drones to 34 countries and the Akıncı heavy combat drone to 10 nations, expanding its global footprint. Additionally, the company has started mass production of the TB3 drone, Bayraktar said. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
