ASELSAN increased R and D spending 25 pct in 2013

The research and development (R and D) spending of Turkey’s largest defense contractor, Military Electronic Industries (ASELSAN), totaled TL 728 million in 2013, an increase of 25.3 percent over the previous year.

ASELSAN has significantly increased its investment in R and D in recent years. The company’s R and D spending was at TL 378 million in 2010, TL 447 million in 2011 and TL 581 in 2012. The number of employees working at ASELSAN’s R and D center has also increased over the years, standing at 1,469 in 2009 and 2,293 in 2013.

Meanwhile, the firm’s sales totaled TL 2.17 billion in 2013 with a net profit of TL 238 million. ASELSAN has spent TL 132 million on 240 university projects since 2009.

With a booming defense industry in recent years, Turkey’s defense exports may well exceed the $2 billion target figure for 2016 set by the Undersecretariat for the Defense Industry (SSM).

SOURCE: TODAY’S ZAMAN