ASELSAN shines as defense stocks ride global rally

ISTANBUL

Defense and aerospace companies have delivered strong returns to investors as countries increase defense budgets and continue major projects, with Türkiye's ASELSAN standing out for its remarkable performance.

Following the Russia-Ukraine war and heightened security threats, many European nations have decided to boost defense investments. This surge in spending has fueled rapid gains in the share prices of defense and aerospace firms. NATO leaders’ decision to raise defense expenditures to 5 percent of GDP by 2035 has further strengthened the sector’s momentum in global markets.

Against this backdrop, stock performance over the first nine months of the year shows significant gains for investors: South Korea’s Hanwha Aerospace rose 239 percent, Germany’s Rheinmetall 221.9 percent, Türkiye’s ASELSAN 196.6 percent, Sweden’s Saab 145.8 percent, the U.K.’s Rolls-Royce 109.3 percent, Italy’s Leonardo 108.3 percent and the U.K.’s BAE Systems 79.3 percent.

ASELSAN continues to play a pioneering role in the development and transformation of Türkiye’s defense technologies while also impressing with its financial results. The company became the first listed firm on Borsa Istanbul to surpass a market capitalization of 1 trillion Turkish Liras.

ASELSAN is working toward its goal of ranking among the world’s top 30 defense companies by 2030. Currently, it holds the highest market value within the BIST 100 index.

Meanwhile, on Borsa Istanbul, shares of Onur Yüksek Teknoloji remained unchanged, while SDT Space and Defense fell 3.1 percent and Altınay Defense dropped 11.8 percent. Other Turkish defense companies also showed mixed performances over the nine-month period. Papilon Savunma gained 26.2 percent, Otokar advanced 5.8 percent, Onur Yüksek Teknoloji ended flat, SDT Uzay ve Savunma declined 3.1 percent and Altınay Savunma recorded a sharper loss of 11.8 percent.