Turkish defense industry companies will sign more than 10 agreements on the sidelines of the 2019 Langkawi International Maritime and Aerospace Exhibition (LIMA 2019), which is the Asia-Pacific region’s most important exhibition in its field, according to Presidency of Defense Industry (SSB) Chairman İsmail Demir.
Leading Turkish defense companies are taking steps towards cooperation with local partners under the coordination of the SSB’s export development group. LIMA 2019, the 15th edition of the event first organized in 1991 under the coordination of the Ministry of Defense of Malaysia, kicked off on March 26 and will last until Saturday in Langkawi, Malaysia.
Turkish Aerospace Industries Inc. (TUSAŞ/TAI), ASELSAN, Defense Technologies Engineering and Trade Inc. (STM), HAVELSAN, ROKETSAN and TAIS have been introducing and promoting their products and services in aerial platforms, marine systems, weapons systems, electronic systems, ammunition, simulators and logistics support.
Demir pointed to the importance of the region in terms of maritime trade, adding that Turkey’s maritime companies have also taken part in the exhibition to undertake new collaborations.
“Various agreements will be signed in Malaysia, particularly on the introduction of some technologies here, the co-production of light and speed boats, some technological and scientific cooperation and collaborations with existing structures on design,” he said. “Our companies within TAIS and Istanbul Shipyard will sign various agreements. These will prove our steps here, paving the way for us to step into the region.”
The SSB chairman on Wednesday said Turkey’s defense industry now wants to set an export target of over $3 billion for this year. As a result of accelerating efforts, sector export performance in 2018 increased by 17 percent compared to 2017. The industry broke its own record of $1.7 billion in November and moved the record to $2.03 billion at the end of the year.
Turkey’s total defense and aerospace exports saw a 35.3 percent year-on-year increase in the first two months of this year, reaching $346.5 million, according to the Turkish Exporters’ Assembly (TİM).