Justin Vela

Turkish defence industry aims high // The FT’s beyondbrics…

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Published by beyondbrics on Mar 8, 2013

Turkey is moving up in defence manufacturing with the commercial development of the ANKA, its first domestically-made drone (pictured).

It’s the product of an industry that’s largely state-owned but one that is expanding its $14bn-a-year revenues, and creating investment opportunities through privatisation. First for a likely stock market launch is ANKA’s maker, Turkish Aerospace Industries (TAI), the second largest company in the sector.

Like most Turkish defence contractors, TAI is a subsidiary of the country’s Armed Forces Foundation (TSKGV). It is expected to be listed on the Istanbul Stock Exchange (ISE) later this year, according to Arda Mevlutoglu, a Turkish defence analyst, who says the pioneering sale could pave the way for others.

“Going [public] is part of a wider strategic plan to make TAI a global player,” Mevlutoglu said. “If the formula works well, it may be applied to other major contractors as well.”

TAI didn’t respond to a request for comment in time for publication. The ANKA unmanned aerial vehicle (UAV) is one of TAI’s latest developments, with a 56-foot wingspan, a top speed of 75 knots per hour, and a maximum altitude of 30,000 feet.

The Anka completed military testing in late January and is set for serial production. Turkey aims to export the drone around the region, with the Egyptian government reportedly signing an agreement last November to buy 10 of the drones.

Read the full article here

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