Who owns Roketsan? Ownership structure and shares
The main owner of Roketsan is the Turkish Armed Forces Foundation (TSKGV), which owns 55% of the shares, followed by Aselsan with 15% and MKE with 15%, and VakıfBank with 10%, with 5% for other entities. The company is under the control of a government institution and is not listed on the stock exchange.
| Roketsan Ownership — Quick Overview | |
|---|---|
| Full Name | Roketsan Missile Industries and Trade Inc. (ROKETSAN A.Ş.) |
| Main Owner | Turkish Armed Forces Foundation (TSKGV) — 55% |
| Type of Ownership | Government Foundation |
| Listed on Stock Exchange | No — Not listed on Istanbul Stock Exchange (BİST) |
| Established | June 14, 1988, Ankara |
| General Manager | Murat İkinci |
| Company Headquarters | Ankara (Elmadağ; Lalahan, Kırıkkale) |
| Number of Employees | Approximately 5000 (of which about 2000 in research and development) |
Who Owns Roketsan?
The dominant owner of Roketsan is the Turkish Armed Forces Foundation (TSKGV), a government foundation that holds 55% of the capital. This means that the company is not owned by individuals or private sector investors, but is effectively under the control of the Turkish state through this foundation.
Alongside the institution, several major Turkish industrial and financial entities participate in the ownership: ASELSAN with 15%, MKE (Mechanical and Chemical Industry Corporation) with 15%, VakıfBank with 10%, while the remaining 5% belongs to other parties. This structure makes Roketsan a company fully owned by public and institutional entities, with no independent foreign or private capital.
For this reason, when the question “Who owns Roketsan?” is asked, the accurate answer is: the Turkish state through the TSKGV institution as the largest shareholder, along with defense and finance companies owned by or linked to the public sector. There is no individual owner, family, or foreign investor that controls the company, nor is there a share available for public trading.
Roketsan was established on June 14, 1988, in Ankara by a decision of the Defense Industries Executive Committee, to be the leading institution in the design, development, and production of missiles and munitions in Turkey. Since its inception, its ownership has been linked to the government defense system, which has remained constant to this day despite the significant growth in its business volume and its workforce, which has exceeded 5,000 employees, including about 2,000 in research and development.
Ownership Structure and Share Distribution
The capital of Roketsan is distributed among five main entities, led by the government institution with a share exceeding half. The following table accurately illustrates this distribution:
The 55% share grants the TSKGV institution a clear majority, allowing it to make strategic decisions and control the major directions of the company, from investment policies to export priorities. Because this share exceeds half, the institution effectively retains the final say in the general assembly, ensuring that Roketsan remains in service of national defense objectives.
The presence of ASELSAN and MKE with equal shares (15% each) provides industrial integration within the Turkish defense system; as the sensor, radar, and defense electronics systems at ASELSAN integrate with the missile and guided projectile systems developed by Roketsan, while MKE’s expertise in munitions and explosives contributes to the supply chain. The participation of VakıfBank with a 10% share adds a financial and institutional dimension that enhances the capital base of the company. This overlap among the shareholders makes Roketsan an organic part of the national defense industry, rather than an isolated entity; each partner represents a complementary link in the Turkish defense value chain.
What is the TSKGV Foundation?
The Turkish Armed Forces Foundation (Türk Silahlı Kuvvetlerini Güçlendirme Vakfı), commonly known as TSKGV, is a Turkish foundation established to support the Turkish Armed Forces and enhance its defensive capabilities by building a strong and self-sufficient national industry. This foundation serves as the primary incubator for several of Turkey’s largest defense companies and is a key tool in the state’s policy aimed at reducing reliance on imports and building local capabilities in the design and production of defense systems.
The foundation holds controlling or significant stakes in major defense companies such as Aselsan and Roketsan, making it a fundamental pillar in the Turkish defense system. Through its 55% stake in Roketsan, the foundation plays the role of controlling shareholder that directs the company’s public policies and strategic plans, while the day-to-day executive management remains in the hands of the company’s team led by General Manager Murad Ekinci. This model separates ownership and strategic direction on one hand, from operational management on the other.
As a public foundation, TSKGV does not seek profit as an end in itself; rather, the returns are directed towards enhancing national defense capabilities and reinvesting in research and development and industrial infrastructure. This distinguishes Roketsan’s ownership model from traditional public joint-stock companies that are subject to pressures for profit distribution to shareholders; here, the priority is on industrial sustainability and national security rather than short-term returns.
Is Roketsan a government company? Can its shares be purchased?
Yes, Roketsan can be considered a publicly controlled company since the majority of its shares (55%) belong to a government institution, and the remaining shares are distributed among state-owned or affiliated entities such as Aselsan, MKE, and VakıfBank. Therefore, Roketsan is not a private company, but a national strategic entity.
Regarding the possibility of investment, Roketsan is not listed on the Istanbul Stock Exchange (BİST) or any other stock exchange. Thus, individuals or investors cannot purchase shares directly in the company, and its shares are not traded in the open market. Ownership remains confined between the government institution and its institutional partners.
In terms of financial performance, the company generates all its revenue from defense sales, with its defense revenue for 2024 reaching approximately $1.55 billion according to the Defense News list of the top 100 defense companies (2025 edition), ranking 71st globally. The management announced that the business volume exceeded the $2 billion threshold by the end of 2025, with a total contracted business volume of around $10 billion thanks to new contracts. However, these figures do not change the nature of ownership: the company remains unlisted and unavailable for public trading.
In summary, the only way for an ordinary investor to benefit from Roketsan’s growth is not through direct ownership of its shares — as this is not possible — but possibly indirectly through publicly listed partner companies, primarily Aselsan, which is traded on the Istanbul Stock Exchange. Roketsan itself remains a strategic entity owned by the state through the institution, and the company or its owners have not officially announced any plans for a public offering; any talk to the contrary remains unconfirmed and “has not been officially disclosed.”
The ownership structure (TSKGV 55%, Aselsan 15%, MKE 15%, VakıfBank 10%, Others 5%) is based on officially announced data. Any uncertain detail is explicitly stated as “not officially disclosed.” Roketsan is not listed on the stock exchange.
Frequently Asked Questions
Who owns Roketsan?
The main owner is the Turkish Armed Forces Foundation (TSKGV) with a 55% share, followed by Aselsan (15%), MKE (15%), and VakıfBank (10%), with 5% for other entities. This means the company is under public control.
Is Roketsan a government or private company?
It is a publicly controlled company; a government institution (TSKGV) owns the majority of its shares, and the other partners are state-owned entities or linked to the state. It is not a private company owned by individuals.
Is Roketsan listed on the stock exchange? Can its shares be purchased?
No. Roketsan is not listed on the Istanbul Stock Exchange (BİST) and its shares are not traded in any market, and individuals cannot purchase stakes in it directly.
What is the TSKGV Foundation?
It is the Turkish Armed Forces Foundation, a government endowment institution that supports the national defense industry and holds stakes in major Turkish defense companies, including a 55% stake in Roketsan.
What is Aselsan’s share in Roketsan?
Aselsan owns 15% of Roketsan’s shares and is an institutional partner providing industrial integration in electronics and sensor systems.
Who manages Roketsan on a daily basis?
The executive management of the company is led by General Manager Murad Ekinci, while the owning institution plays the role of the controlling shareholder guiding public policy.
Sources
- Official Roketsan website — roketsan.com.tr
- Turkish Armed Forces Foundation — tskgv.org.tr
- Defense News list of the top 100 defense companies (2025 edition)
