$6.2 billion worth of agreements inked at SAHA defence expo

The SAHA Expo, Türkiye's flagship defense and aerospace event, witnessed the signing of agreements totaling $6.2 billion.

Some 1,478 companies, 178 foreign buying delegates and 312 officials, as well as 24 government ministers, participated in the event, organized by the Istanbul Defense and Aerospace Cluster Association (SAHA) last week.

The five-day event at the Istanbul Expo Center showcased cutting-edge defense products from Türkiye and 120 foreign nations.

"In the 133 signing ceremonies we held at SAHA Expo 2024, a total of $6.2 billion worth of contracts, $4.6 billion of which was exports, were signed in just four days," said Haluk Bayraktar, board chair of SAHA Istanbul.

Locally developed 200 new products were exhibited for the first time at the SAHA Expo, according to Bayraktar.

Türkiye's defense exports, which were only $240 million in 2001, reached $5.5 billion as of last year, he said, adding that the number of companies in the local defense industry, rose from 17 in 2002 to exceed 3,500.

Commenting on the success of Turkish companies, Bayraktar noted that Arca, the main sponsor of the SAHA Expo, has become one of the world's largest artillery ammunition manufacturers, producing more artillery shells than the U.S. and exporting its products to many countries.

Among important deals inked during the expo, is the cooperation agreement signed between Turkish drone maker Baykar and the United Arab Emirates' Edge, one of the world's leading advanced technology and defense groups.

ASSAN Group, the manufacturer of ammunition and aircraft bombs in Türkiye, signed three agreements with Edge entity LAHAB.