Otokar secures $1.47 billion contract to export wheeled armored vehicles
Turkish defense firm Otokar announced a $1.47 billion export agreement for wheeled armored vehicles and logistics support, with deliveries slated to start in 2027.
Otokar, a Turkish automotive and defence manufacturer, revealed on Oct. 1 that it has signed an export contract valued at $1.47 billion. The agreement covers multiple types of wheeled armored vehicles along with comprehensive logistics support, as reported to Türkiye’s Public Disclosure Platform (KAP). Before the contract is finalized, the company must obtain official approvals, complete guarantee letter procedures, and receive an advance payment.
Otokar will provide guarantee letters totaling $441.6 million to secure its obligations. Vehicle deliveries are scheduled to commence in 2027 and will be completed in several batches over a three-year period, with the overall contract remaining effective for seven years.
Why it matters
The contract expands Turkey's defence exports and boosts Otokar's global market presence.
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