Forecast: Turnover in Manufacture of Weapons and Ammunition Sector in Turkey

The turnover in the Manufacture of Weapons and Ammunition sector in Turkey saw significant growth from 2013 to 2023, reaching 19.79 billion New Turkish Liras in 2023. The turnover increased by 26.57% from 2021 to 2022 and by 20.79% from 2022 to 2023. Over the last two years, the average annual growth rate was 23.68%. The compound annual growth rate (CAGR) from 2018 to 2023 was an impressive 35.59%, showcasing rapid sectoral expansion. Looking ahead, the forecast for the next five years suggests a CAGR of 9.41%, indicating a more moderate but steady growth, with an overall increase of 56.79% by 2028.

Future trends to watch for include technological advancements, increasing defense budgets, and potential geopolitical influences which may further impact the sector's growth trajectory. Continued investments in innovation and strategic partnerships could sustain the momentum in Turkey's weapons and ammunition manufacturing industry.