Aselsan signs $106 million deal for pipeline security

Aselsan, Türkiye's leading defense company, has inked a new deal with the Presidency of Defense Industries (SSB) regarding oil and natural gas pipeline security.

Deliveries under the agreement will be made through 2025-2028, the company said in a filing with the stock exchange.

In December, Aselsan signed other deals with SSB worth $171 million and 1.95 billion Turkish Liras for the procurement of air defense radar systems, with deliveries scheduled for 2026-2031.

Earlier this week, Aselsan announced an export contract worth $42 million.

It signed an agreement with "a customer in the Middle East" regarding the sales of air platform payloads. The company did not provide other details.

Aselsan ranked 42nd in the Defense New Top 100 list in 2023, climbing from the 47th spot in the previous year.

Along with drone maker Baykar and TUSAŞ, Aselsan made it to SIPRI's top 100 arms-producing and military services in 2023.

The total revenues of Aselsan, ranked 54th on the list, were $2.56 billion in 2023.

The Turkish Armed Forces Foundation owns 74.2 percent of the defense company, while 25.8 percent of its shares are traded on Borsa Istanbul.

As of the end of third quarter of 2024, Aselsan's backlog was $12.6 billion, according to a presentation on the company's website.