Turkey slated to boost defense exports after major arms fair sees $6.2B in contracts
While the additional foreign revenue is good news for Ankara, experts warn that success in the defense industry sector comes with potential risks.
Turkish defense exports are expected to see a major boost after an international arms fair in Istanbul, potentially expanding Ankara's geopolitical and commercial influence, but experts also point to some of the pitfalls of rapid growth.
Held in Istanbul every two years since 2018, the Saha Expo took place this year Oct. 22–26. It alternates with the International Defense Industry Fair, organized and held by the Turkish Armed Forces Foundation in odd years.
In 2023, Turkish companies sold a total of $5.5 billion worth of defense products and services to foreign buyers, according to the Turkish Presidency's Defense Industries Directorate. Turkey’s defense exports for the first eight months of 2024 — prior to the Expo — have already reached $3.7 billion, official figures show.
Addressing the Saha Expo on Oct. 25, Turkish President Recep Tayyip Erdogan said contracts signed during the fair were expected to total $6.2 billion, including $4.6 billion in export agreements. Earlier in October, fair officials had predicted that the total contract amount at Saha Expo might reach $2 billion to $3 billion.
