ASELSAN has announced its inflation-adjusted financial results for Q1’25. The company maintained its strong momentum in the first quarter of the year, with robust growth in all key financial indicators. According to results, revenues reached 22.8 billion TL with a real growth of 9% compared to the same period of last year supported by deliveries in air defense, weapon systems, radar, electronic warfare, electro-optics, naval systems, and military communications. New contracts worth 1.5 billion USD marked a 46% increase, while export contracts soared by 220%, reaching 372 million USD. The company’s total backlog grew by 35%, climbing to 15 billion USD. EBITDA reached 5.1 billion TL with a margin of 23%, while the book-to-bill ratio realized at 2.3.
Investments in R&D and production continued to rise, with R&D expenditures increasing by 33% to 250 million USD and investment expenditures growing by 70% year-over-year. In this period, financial debts were reduced by 8% and trade payables reduced by 37%. The company’s Net Debt/EBITDA ratio dropped from 1.07 to 0.60, maintaining its position well below the sector average.
ASELSAN President & CEO Ahmet Akyol evaluated the first quarter financial results: “ASELSAN’s financial results for the first quarter of 2025 clearly reflect that we have successfully maintained the strong momentum of 2024 in which we became one of the world’s fastest-growing defense companies. Reflecting on our success, the results of the first quarter of 2025 are a clear demonstration of our ongoing strong performance and customer satisfaction. We sustained a real revenue growth of around 10% and continued to improve our cash flow. Compared to the same period of the previous year, a 46% increase in received orders clearly reflects our customers' confidence in ASELSAN’s technologies and a remarkable 220% increase in international orders reflects the success of our export driven growth strategy. As a result of these achievements, ASELSAN is currently the most valuable company on the BIST-100 index.
On the technology front, we recorded several critical product and technology milestones in the first quarter. We continued the serial production deliveries of HİSAR-O Air and Missile Defense System, and completed the deliveries of PUHU 3-LT Electronic Support Systems, modernized ZMA-X unmanned land vehicles to our armed forces. Our GÖZDE Guidance Kit achieved a first by successfully striking a moving target from Bayraktar AKINCI. We conducted the first test of TOLUN, conducted within GÖKTAN system, demonstrating its newly integrated ground-to-ground engagement capability. Our electronic support pod ANTIDOT 2-U/S proved its capabilities with the successful tests conducted on Bayraktar TB-2. In addition, our GÖKSUR Point Defense Missile System conducted its first successful launch from a surface platform.
Our investments in R&D to date have positioned ASELSAN as a key global player with a high-value product portfolio. Today, we are witnessing a strong domestic and international demand, especially in our air defense, radar, and electro-optical systems. In order to enhance our mass production capabilities, we have launched three strategic investment projects totaling $616 million, covering critical areas such as photon detectors, radar technologies, and air defense systems. These projects, supported under the Ministry of Industry and Technology’s Project-Based Investment Incentive Program, are essential for our Steel Dome concept and will enable ASELSAN to deliver high value-added technologies at a large scale.”
ASELSAN has completed the BARBAROS-Class Frigates Mid-Life Upgrade (BARBAROS-MLU) Project, achieving a major milestone by modernizing 21 critical systems on TCG ORUÇREİS with advanced, indigenous technologies. Marking the world’s most comprehensive MEKO-class frigate modernization to date, the upgrade spans a wide range of critical capabilities, including radar and surveillance, electronic warfare and countermeasures, communication and satellite systems, electro-optics, weapon and fire control technologies, underwater detection and protection, and navigation support, all tailored to meet the evolving operational needs of the Turkish Naval Forces.
The upgraded systems developed by ASELSAN for TCG ORUÇREİS include:
Radar Systems:
Electronic Warfare Systems:
Communication Systems:
Electro-Optic Systems:
Weapon Systems:
Fire Control Systems:
Underwater Systems:
Navigation Systems:
In addition to renewing critical combat systems, ASELSAN also carried out extensive platform redesign efforts such as main mast modifications, structural reconfigurations above and below deck, and a series of technical analyses covering marine stability, HVAC systems, power distribution, and electromagnetic compatibility. With this milestone project, ASELSAN once again demonstrates its strength in delivering comprehensive, high-performance naval solutions that elevate both national defense and allied interoperability at sea.
ASELSAN participated in the Latin America Aerospace and Defense Exhibition (LAAD 2025) held in Rio de Janeiro, Brazil, presenting its latest technologies in defense systems, public security solutions, and modernization programs. With a strong focus on the needs of Latin American countries, ASELSAN reinforced its strategic commitment to the region by introducing tailored, field-proven technologies and expanding cooperation with its stakeholders in the region.
At the event, ASELSAN showcased a broad range of systems, including SADAK 2T smart twin carriage rack, TOLUN GPS/INS-guided munition, and GÖZDE 82 and LGK 82 laser guidance kits. Public safety and surveillance solutions also drew significant attention, with ASTELA 3710 mission-critical hand-held radios, MİDAS intrusion detection system, and the AI-powered ODAKAN “CityGuard” urban security platform all featured at ASELSAN’s stand.
The company’s participation at LAAD comes amid its growing footprint in the region, supported by its ongoing contributions to defense modernization and regional security. ASELSAN continues to pursue new opportunities through its Santiago office, offering life-cycle extending upgrade programs for land, air, and naval platforms. Committed to long-term collaboration, ASELSAN remains a trusted partner in Latin America, contributing to regional defense and public safety through technology transfer, joint development, and localized engagement.
ASELSAN participated in the Adriatic Sea Defense, Aerospace and Security Exhibition (ASDA 2025) held in Zagreb for the first time; presenting a wide range of advanced defense systems and strengthening its strategic presence in the Balkans and Eastern Europe. The company introduced many of its cutting-edge solutions to the Croatian market while reinforcing its long-standing cooperation with the Croatian Navy and aiming to deepen future partnerships in the region.
At the event, ASELSAN showcased products spanning naval systems, air defense solutions, electronic warfare technologies, and electro-optical systems. Highlights included FULMAR 200-A AESA-based SAR Pod, ANTIDOT Electronic Warfare Pods, ASELFLIR 500 Electro-Optical Reconnaissance, Surveillance and Targeting System, KORKUT Air Defense Gun System, SERDAR 100-Co Coastal Surveillance Radar, İHTAR Counter-UAV System, SMASH Remote-Controlled Weapon Systems and ASELSAN’s border security solutions.
ASELSAN’s booth drew strong interest from high-level delegations including Croatian Minister of Defense Ivan Anusic, Turkish Deputy Minister of National Defense Musa Heybet, Vice President of the Secretariat of Defense Industries Mustafa Murat Şeker, and Turkish Ambassador to Croatia Hayriye Nurdan Erpulat Altuntaş.Through ASDA, ASELSAN also sought to strengthen its partnership with the Croatian Navy, which has successfully deployed ASELSAN’s SMASH systems on OOB-31 class patrol vessels since 2018.
Türkiye’s first indigenously developed communication satellite, TÜRKSAT 6A, has officially entered service during a historic ceremony attended by President Recep Tayyip Erdoğan. ASELSAN was a key contributor to this landmark project, which was developed in collaboration with TÜBİTAK UZAY, TUSAŞ, and CTECH. As the provider of the satellite’s most critical components such as Ku-Band and X-Band communication payloads, ASELSAN delivered these systems entirely with indigenous engineering capabilities. This achievement marks a major milestone for both ASELSAN and Türkiye’s technological independence in space, placing Türkiye among the 11 countries in the world capable of designing and manufacturing their own communication satellites.
ASELSAN’s contributions to the Ku-Band payload include Ku-Band Communication Subsystem, Receiver Unit, Payload Interface Unit (FYAB), Input Multiplexer (INET), and a Reflector Antenna dedicated to Türkiye’s coverage area. For the X-Band payload, ASELSAN developed X-Band Communication Subsystem, including Frequency Down Converter, Channel Amplifier, and Harmonic Filter (DOCON-L Unit), all produced with space-qualified and indigenous technologies.
These communication payloads, which are developed entirely through national expertise are now fully operational, delivering secure and uninterrupted services to both national security units and civilian users. Developed under the leadership of the Ministry of Transport and Infrastructure/TÜRKSAT (Ku-Band, GEOKu-100) and the Presidency of Defence Industries (X-Band, GEOX-100), the systems are designed to meet all mission-critical requirements of Türkiye’s communication infrastructure in the orbit.
Building on its strong technological capabilities in defense, ASELSAN is transforming its expertise in developing critical technologies that add value to life in the fields of security, health, smart systems, transportation and energy. Reinforcing its growing presence in civilian industries, ASELSAN’s nationally developed Heart Lung Machine was officially launched at the Expomed Fair in Istanbul, following the successful completion of its blood tests. Designed to take over the functions of the heart and lungs during open-heart surgeries, the device marks a major milestone in Türkiye’s healthcare technology. This breakthrough device represents a pivotal achievement in ASELSAN’s healthcare journey, demonstrating how the company’s engineering legacy is shaping the future of medical technologies in Türkiye and on a global stage
As a result of the studies started by ASELSAN in 2020, Heart Lung Machine stands out with its ergonomic and innovative design, created in close collaboration with specialist doctors and perfusionists. The device has already earned international recognition with industrial design awards from iF Design, A’Design, and IDA Design.
Currently undergoing clinical studies in partnership with the Turkish Health Institutes (TÜSEB), Heart Lung Machine is expected to be available in hospitals next year. Developed with a high rate of domestic production, the device is not only set to contribute to reducing Türkiye’s current account deficit but also to position ASELSAN as a key player in the healthcare technology sector.
ASELSAN’s ALP 100-G Low Altitude Radar System has successfully completed its first system acceptance, proving its high-performance detection, tracking, and mobility capabilities after months of rigorous testing. Ready to join Türkiye’s air defense network, ALP 100-G combines cutting-edge AESA technology with rapid deployment features, marking a major leap forward for national radar solutions and paving the way for serial production.
The temporary acceptance tests, which began on December 2, 2024, were concluded successfully. After more than six months of rigorous infrastructure, installation, and system testing, ALP 100-G proved its reliability under demanding operational conditions, demonstrating exceptional target detection and tracking capabilities. Equipped with advanced detection algorithms and high-precision tracking, the system’s success marks a significant milestone achieved through the dedication and collaboration of the project team and all stakeholders involved, once again highlighting ASELSAN’s commitment to delivering cutting-edge radar solutions for national defense.
Following its intensive test and validation phase, ALP 100-G is now set to enhance Türkiye’s air defense architecture. Leveraging AESA (Active Electronically Scanned Array) technology, the system offers three-dimensional tracking of aerial threats, along with high mobility and rapid deployment capabilities in the field. The acceptance of ALP 100-G not only underlines its operational maturity but also paves the way for broader deployment and the acceleration of serial production in the near future.
ASELSAN proudly took part in the launching ceremony of BRP Diego Silang, a new Philippine Navy corvette built by HD Hyundai Heavy Industries, celebrating the successful integration of its GÖKDENİZ 100/35 Close-In Weapon System onboard. The event marks another important step in ASELSAN’s growing cooperation with the Philippine Navy.
The launching ceremony was held at HD Hyundai Heavy Industries’ shipyard in Ulsan, South Korea, and gathered high-ranking Philippine officials including Armed Forces of the Philippines (AFP) Chief Gen. Romeo Brawner Jr., Philippine Navy Chief Vice Admiral Jose Ma. Ambrosio Ezpeleta, Department of National Defense Undersecretary Salvador Melchor Mison Jr., and senior executives from HD Hyundai Heavy Industries. ASELSAN was represented at the ceremony by Ali Kuran, Director of Business Development and Marketing for Asia-Pacific.
Following the successful completion of installation and integration activities, ASELSAN’s GÖKDENİZ 100/35 Close-In Weapon System is now ready to serve as a key component of the ship’s defense capabilities. ASELSAN is proud to support the Philippine Navy with this advanced system and looks forward to contributing to the country’s naval security in the years ahead.