Financial growth of the Turkish defense industry : an explanatory analysis

Abstract

The importance of the Turkish defense firms that sell various products to the Turkish Armed Forces has been gradually increasing in the last decade, especially after the September 11, 2001. Turkey has to pay more attention to the national defense industry, because of the threats and serial crisis in the region. The companies in defense industry have very important role in economy however; decreasing the defense expenditures will accelerate the rate of economic growth. As a result, the strategies for the financial growth of defense firms are very crucial. The purpose of this study is to identify how Turkish Defense Industry financed growth in sales and assets during the fiveyear period and how they should finance growth in order to realize a respectable sustainable growth rate.