September 2026
Largest Defense Systems Public Companies in Turkey
Benchmark revenue and EBITDA valuation multiples for public comps like
ASELSAN, Tera Yatırım Teknoloji Holding, Altınay Savunma, SDT Uzay & Savunma Teknolojileri and Katmerciler.
 | Aselsan Elektronik Sanayi Ve Ticaret AS provides defense technologies to the Turkish armed forces. Additionally, it exports systems and solutions to clients in other countries and has taken on civil projects. Its products may help with communications, radars, sensing, or other defense systems to enhance proficiencies within the industrials sector. Marketing efforts may be geared toward a specific customer or specific segment in the market, and plans are implemented to showcase product capabilities. | $8 | +51% | $36B | $36B | 9.8x | 53.9x | ||
| Tera Yatırım Teknoloji Holding (traded on Borsa İstanbul under the ticker TEHOL) is a multi-sector Turkish investment holding company that transformed from a real estate investment trust (formerly Pera GYO) into a technology, defense, and industrial-focused group in 2025. | $1 | +22% | $1B | $970M | 11.9x | 32.4x | ||
| Altinay Savunma Teknolojileri AS is a company which has has been providing products and solutions in the fields of Motion Control Systems, Unmanned Systems, Stealth Systems, Weapon Systems, Ammunition Destruction, and Production Systems to various stakeholders in the government, private sector, and international markets. | $0 | -31% | $282M | $339M | 5.3x | 36.3x | ||
| SDT Uzay Ve Savunma Teknolojeleri operates as a defense sector company that develops domestic products and capabilities in R&D-based fields. It engages in producing defense electronics and software products. Its solutions consist of Radar, electronic warfare, and communication systems. It also engages in analyzing, designing, coding, and testing various software components, from embedded software to enterprise solutions. | $0 | -8% | $227M | $241M | 5.4x | (3867.2x) | ||
| Katmerciler Arac Ustu Ekipman Sanayi ve Ticaret AS is a manufacturer of automobiles like fighting vehicles, environmental vehicles, transport vehicles, defense Industry vehicles, construction industry vehicles and more. These products include onboard equipment with different functions, which are indispensable for easier life in safer, cleaner, humanitarian standards, from garbage trucks from fire engines, ducting vehicles from tankers, rescue vehicles from tankers, mobile maintenance vehicles from dumper. | $0 | -- | $72M | $117M | 2.5x | 5.6x | ||
| Escort Teknoloji Yatirim AS is engaged in providing information technology solutions in Turkey. The company's product portfolio includes Digital products and services, Venture Investments, the Internet of Things, Business Intelligence and Enterprise Solutions, Payment and E-Commerce, Health Solutions, Consumer electronics, and Renewable Energy. | $0 | -- | $68M | $68M | 2.0x | 2.9x | ||
| Onur Yuksek Teknoloji AS is a Company whose main activity is the design and engineering services of high-tech electronic hardware products for mission critical voice and data communication systems to be used in military projects for both civilian and defense industry. | $0 | -- | $55M | $54M | 2.6x | 142.9x | ||
| Gate Group Teknoloji Medya ve Siber Guvenlik Hizmetleri AS is engaged in the business of Electronic Security Systems. The company's business scope include electronic security systems, energy-related services, entertainment media, giftware, toys, jewellery and artistic products, software and computer technology services, etc. | $3 | -- | $37M | $39M | 69.4x | 214.1x | ||
| Papilon Savunma Teknoloji Ve Ticaret AS is engaged in the research, development, production, and integration of end-to-end integrated public security systems, fingerprint scanners, palm scanners, access control systems, biometric workstations, mobile devices, facial recognition, virtual reality platform devices, and iris recognition devices, as well as the construction of value-added holistic systems for domestic and international public institutions and private commercial organizations. | $0 | -- | $37M | $39M | 13.7x | (28.1x) | ||
| Median | $0 | +7% | $72M | $117M | 5.4x | 32.4x |
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