Baykar’s Saudi drone deal includes tech transfer and joint production.
Exciting News: Saudi Arabia Signs Accord to Buy Turkish Drones
The recent accord between Saudi Arabia and Turkey for the purchase of Turkish drones goes beyond a simple transaction. According to a statement by the Turkish company Baykar, the agreement involves cooperation in technology transfer and joint production.
“With the comprehensive agreement, there will be cooperation on technology transfer and joint production in order to advance the high technology development capability of the two countries,” the statement said.
This deal was signed during Turkish President Tayyip Erdogan’s visit to Saudi Arabia, marking one of several lucrative agreements he has secured during his Gulf trip. This trip follows a diplomatic push to repair ties with Gulf Arab powers.
Baykar, a leading Turkish company in drone research and development, has seen remarkable success in exports. Since starting their drone R&D in 2003, 75% of their revenues have come from exports. Last year alone, their exports amounted to $1.18 billion, with a total turnover of $1.4 billion.
Baykar has already signed export agreements with 30 countries for their Bayraktar TB2 combat drone and with six countries for the larger Bayraktar Akinci combat drone.
(Reporting by Can Sezer; Writing by Daren Butler; Editing by Huseyin Hayatsever and Alison Williams)
