Turkey Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

Turkey Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

Summary

Turkey Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028 report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

Turkey’s defense budget has grown by 2% from 2023, to reach $15.9 billion in 2023. This follows a run of years where the budget decreased, from $14.1 billion in 2019 to $13.2 billion in 2021. However, the budget over this period was growing when taken in Turkish Lira (increasing from TRY80.0 billion to TRY116.5 billion over the same period).

Key Highlights

• By 2023, the country's goal is to have 75% of Turkish military requirements met by the domestic defense industry. This goal has subsequently led to significant government R&D investment in a number of locally-produced projects.
• The Russian threat came to the fore after Russia’s illegal annexation of Crimea in 2014. The following years of Russia’s aggressive militaristic posturing in Eastern Europe and now full-scale invasion of Ukraine pose a significant threat to Turkey.
• Relations between the country's domestic defense industry and high-level military officials remains strong, and therefore military officials influence the procurement process.
• Some entrants to the Turkish market experience issues relating to inconsistent or contradictory policies, as well as very high standards of documentation requirements.

Who Should Buy

• Defence Startups, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
• The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
• The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.

Scope

This report offers detailed analysis of the Turkish defense market with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following -

• Turkey defense budget: detailed analysis of the Turkish 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
• Regulation: the procurement policy and process is explained. This is coupled with an analysis of the Turkish military doctrine and strategy to provide a comprehensive overview of Turkish military regulation.
• Security Environment: political alliances and perceived security threats to Turkey are examined; there help to explain trends in spending and modernisation.
• Competitive landscape and strategic insights: analysis of the competitive landscape of Slovenia's defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the Turkish defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Turkish market and identify the opportunities offered.
• Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
• Identify the major threats that are driving the Turkish defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the Turkish government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available