ROKETSAN Revenue: 2024-2025 Figures Explained
ROKETSAN’s 2024 defence revenue was about $1.55 billion according to the Defense News Top 100 (2025 list), placing it #71 among the world’s largest defence firms. According to statements by General Manager Murat İkinci, the company’s 2025 turnover exceeded $2 billion, and its total order book reached roughly $10 billion with new contracts. All of that revenue comes from defence sales.
| ROKETSAN Revenue — At a Glance | |
|---|---|
| Company | ROKETSAN Roket Sanayii ve Ticaret A.Ş. |
| Headquarters | Ankara (Elmadağ; Lalahan, Kırıkkale) |
| CEO/GM | Murat İkinci |
| Revenue source | 100% defence sales |
| 2024 defence revenue | ~$1.55B (Defense News 2025) |
| Defense News rank | #71 (same as prior year) |
| 2025 turnover | $2B+ (CEO statement) |
| Total order book | ~$10B (incl. new contracts) |
How much is ROKETSAN’s revenue?
To read ROKETSAN’s revenue correctly, it helps to separate two distinct figures: the past-year revenue rooted in audited reporting and the current-period estimate based on a management statement. The most frequently cited official benchmark is the Defense News Top 100 ranking. Its 2025 edition uses firms’ 2024 defence revenues and places ROKETSAN at #71 with roughly $1.55 billion in defence revenue. That is the same position as the previous year, meaning the company held its place in 2024.
The second figure is more recent and larger. According to statements by General Manager Murat İkinci, ROKETSAN closed 2025 with turnover above $2 billion. This is clearly higher than the 2024 figure in the Defense News list and points to a rapid growth trend. However, this $2 billion figure rests on management’s public statement rather than an audited annual financial report; the number is expected to be finalised once the audited report is published.
There is a third indicator: the total order book (backlog). With newly signed contracts, ROKETSAN’s total order book has reached about $10 billion. This is not a single year’s revenue but the aggregate value of a backlog that will be recognised over the coming years; management describes this magnitude as roughly threefold growth versus the earlier period. So revenue (annual realised income), order book (accumulated backlog) and ranking (Defense News) are complementary but measure different things.
Where the figures come from and how reliable they are
ROKETSAN is not listed on Borsa İstanbul and is not publicly traded. The majority of its capital belongs to the Turkish Armed Forces Foundation (TSKGV). Because it is not a public company, ROKETSAN is not obliged to publish quarterly financial statements, which makes its revenue relatively harder for the public to track. For that reason, the most reliable publicly available benchmark is the international reference of the Defense News Top 100 ranking.
The Defense News list counts only defence-derived revenue. For ROKETSAN this distinction is not decisive, because the company earns all of its revenue from defence sales and has no meaningful civilian revenue line. As a result, ROKETSAN’s defence revenue and total turnover largely coincide. Secondary sources such as Wikipedia have also cited 2024 revenue of about $1.39 billion; the differences between figures can stem from the exchange rate used, the reporting period, and the definition of defence versus total revenue. This article takes the Defense News 2025 figure (~$1.55 billion) as its primary benchmark.
- 2024 (official ranking): ~$1.55B defence revenue, Defense News #71.
- 2025 (CEO statement): turnover above $2 billion; no audited report published yet.
- Total order book: ~$10 billion; a backlog spread across future years.
- Revenue mix: 100% defence; no civilian revenue line.
In short, ROKETSAN’s revenue is a picture that can be tracked through open sources but cannot be reduced to a single audited number. The most accurate approach is to read it by distinguishing which figure belongs to which source and which year.
The table below summarises the official and open-source indicators of ROKETSAN’s revenue and financial size. The 2025 turnover figure rests on a CEO statement and should be updated when an audited annual report is published.
The dynamics behind the growth
Several concrete factors lie behind the rise in ROKETSAN’s revenue from 2024 to 2025 and the jump in its total order book. The first is a growing volume of orders: both the layered air-defence and guided-munition needs of the Turkish Armed Forces and newly signed contracts have expanded the backlog. The second is investment in production capacity. The company is investing more than $1 billion in its Lalahan (missile integration) and Kırıkkale (propellant production) facilities, aiming to increase missile-production capacity roughly fivefold. Capacity expansion is the precondition for turning a growing backlog into revenue.
The third dynamic is exports. ROKETSAN’s management has stated that it aims, over the medium term, to raise the export share of total turnover above 50%. For a company that earns all of its revenue from defence sales, there are two paths to growth: capturing a larger share of the domestic defence budget or increasing exports. Management prioritises exports for sustainable growth, so the composition of revenue is gradually evolving from a domestically weighted structure toward a more balanced domestic-export mix.
The way these dynamics feed into revenue is gradual. A signed contract generates income spread over several years depending on the production and delivery schedule. So the current ~$10 billion order book is not all one year’s revenue; it is a backlog that will feed the revenue of coming years. This structure is typical in the defence industry and is one factor that improves the company’s revenue visibility.
Its place in Türkiye’s defence industry
ROKETSAN’s revenue should be read alongside the broader rise of Türkiye’s defence industry. In 2025, five firms from Türkiye entered the Defense News Top 100: ASELSAN (43), TUSAŞ/TAI (47), ROKETSAN (71), ASFAT (78) and MKE (80). This picture shows that Turkish defence firms are growing on a global scale and that ROKETSAN is one of the group’s established players. As the country’s pioneer in rockets and missiles, ROKETSAN operates in high-value segments such as layered air defence, anti-tank systems and guided munitions.
In terms of revenue size, ROKETSAN is one of the largest Turkish defence companies after ASELSAN and TUSAŞ. But a pure revenue ranking does not fully reflect the company’s strategic importance; the missile and guided-munition systems ROKETSAN produces are considered critical for deterrence and operational capability. For that reason, the strategic weight of its product portfolio should be assessed alongside its financial size.
Looking ahead, management expects revenue to keep rising. Higher production capacity as new facilities come online, growth in exports, and the conversion of backlog into revenue are all factors that should support higher figures in the period ahead. Even so, the extent to which these expectations are realised will become clearer as audited annual reports and updated Defense News rankings are published. The figures in this article rest on data verified as of 22 July 2026.
ROKETSAN’s 2024 defence revenue (~$1.55B, Defense News #71) rests on an official ranking. Its 2025 turnover ($2B+) and total order book (~$10B) rest on management statements; these figures will be updated when an audited annual financial report is published. Because ROKETSAN is not publicly traded, it does not publish quarterly financial statements.
Frequently Asked Questions
How much is ROKETSAN’s revenue?
ROKETSAN’s 2024 defence revenue was about $1.55 billion according to the Defense News Top 100 (2025 list). According to General Manager Murat İkinci, the company’s 2025 turnover exceeded $2 billion; that figure rests on a management statement rather than an audited annual report.
Where does ROKETSAN rank in Defense News?
ROKETSAN ranked #71 in the 2025 edition of the Defense News Top 100, corresponding to roughly $1.55 billion in defence revenue. That is the same position as the previous year. Five Turkish firms appear on the list.
What is ROKETSAN’s total order book?
With newly signed contracts, ROKETSAN’s total order book (backlog) has reached about $10 billion. This is not one year’s revenue but a total of orders spread across future years, and management describes it as roughly threefold growth.
Where does ROKETSAN’s revenue come from?
ROKETSAN earns all of its revenue from defence sales; it has no meaningful civilian revenue line. As a result, its defence revenue and total turnover largely coincide.
Is ROKETSAN publicly traded, and how is its revenue tracked?
ROKETSAN is not listed on Borsa İstanbul and is not publicly traded; it has no obligation to publish quarterly financial statements. Its revenue is most reliably tracked through the Defense News Top 100 ranking and CEO statements.
Why does ROKETSAN’s revenue appear different across sources?
Defense News gives 2024 revenue as ~$1.55 billion, while some secondary sources cite ~$1.39 billion. The differences stem from the exchange rate used, the reporting period, and the definition of defence versus total revenue. The $2 billion figure for 2025 rests on a CEO statement.
Sources
- ROKETSAN official — roketsan.com.tr
- Defense News — Top 100 Defense Companies (2025 list)
- Turkish Armed Forces Foundation (TSKGV) — tskgv.org.tr
- Anadolu Agency, Daily Sabah and Al Jazeera reports (2026)
- Company and OSINT records verified 22 July 2026
