Turkey’s leading defense company, Aselsan, has signed a new agreement with the Secretariat of Defense Industries (SSB) to enhance security for oil and natural gas pipelines.

According to the agreement announced in a stock exchange filing, Aselsan will deliver the project between 2025 and 2028.

This deal follows several other recent contracts for Aselsan, including a $171 million contract signed with SSB in December and 1.95 billion Turkish Liras (approx. $60 million USD based on current exchange rates) to procure air defense radar systems, with deliveries scheduled from 2026 to 2031.

Earlier this week, Aselsan also announced a $42 million export contract with a customer in the Middle East for the sale of air platform payloads. However, the company did not disclose further details about the customer or the specific nature of the payloads.

Aselsan’s global standing has been on the rise, with the company ranking 42nd on the 2023 Defense News Top 100 list, up from 47th the previous year. 

Aselsan and drone manufacturer Baykar and TUSAŞ were also included in the Stockholm International Peace Research Institute’s (SIPRI) top 100 arms-producing and military services companies in 2023. SIPRI ranked Aselsan 54th, reporting total revenues of $2.56 billion for the year.

The Turkish Armed Forces Foundation holds a 74.2 percent stake in Aselsan, with the remaining 25.8 percent traded on Borsa Istanbul.

As of the end of the third quarter of 2024, Aselsan’s order backlog stood at $12.6 billion, according to information available on the company’s website.