Türkiye's aerospace sector has marked a historic achievement as two of its national companies, Turkish Aerospace Industries (TAI) and Baykar, have earned spots among the world’s top 50 largest aerospace companies, based on 2023 revenue rankings by Counterpoint Market Intelligence for FlightGlobal.

TAI placed 38th, reporting $2.67 billion in revenue, while Baykar debuted at 49th with $1.8 billion.

TAI’s 38th position reflects steady growth, bolstered by platforms such as ANKA III, the HURJET jet trainer, and the National Combat Aircraft KAAN.

Known for its cutting-edge R&D and commitment to high-tech solutions, TAI has focused on exports and delivering structural products to civil aviation giants.

The company's international collaborations with prominent players in civil and military aviation have strengthened its global reputation, contributing to its competitive edge in both sectors.

In addition to high-profile defence products, TAI's civilian aviation partnerships have solidified its role as a critical supplier and innovator.

Baykar's debut on the list

Baykar, a major player in the unmanned aerial vehicle (UAV) market, entered the rankings at 49th place with a significant $1.8 billion in revenue.

Known for its Bayraktar TB2, Baykar has earned a reputation as the world’s leading armed UAV exporter, with its technology in high demand across the globe.

Baykar has signed export agreements with 35 countries for its Bayraktar TB2 and Bayraktar AKINCI UAVs.

With exports accounting for over 90 percent of its income, Baykar has not only redefined Türkiye’s defence sector but also maintained its position as the country’s top defence exporter for three consecutive years.

Both TAI and Baykar are further investing in new technologies.

TAI continues to develop its KAAN fighter aircraft, while Baykar is focusing on pioneering platforms such as the Bayraktar TB3, a shipborne UAV, and the highly anticipated Bayraktar Kizilelma, Türkiye’s first unmanned fighter aircraft.

Global market dynamics

The rankings place TAI and Baykar among industry giants like Boeing and Airbus, who led the list with $77.8 billion and $70.8 billion in revenue, respectively.

The list’s leaders—primarily based in the US and Europe—highlight the dominance of American and European companies in the aerospace sector, particularly those focused on civilian and defence technologies.

This year, prominent players such as RTX, Lockheed Martin, and Northrop Grumman have also reinforced the significant role of the US defence industry globally.

However, the appearance of companies like Baykar and TAI signals a shift, with non-Western companies climbing the ranks in what has traditionally been a Western-dominated field.