Selçuk Bayraktar, the Chief Technology Officer (CTO) of Türkiye’s drone magnate Baykar, became the highest taxpayer in the country in 2021 and 2022, Anadolu Agency (AA) reported, based on the data revealed by Türkiye’s revenue agency.
Bayraktar paid a total of TL 153,345,596 ($18,94 million) in taxes for the year 2021, while he paid TL 564,124,318 for 2022, based on the income he earned from Baykar.
As one of the leading defense firms with the highest export figures, Baykar has signed deals to sell TB2 to at least 30 countries to date, including four NATO and two European Union member states. Around 86% of the company’s turnover in 2022 came from export revenues, reaching $1.2 billion.
The company accounts for 25% of Türkiye’s defense exports and does not use subsidies or loans.
Türkiye's defense industry has undergone a profound transformation over the last two decades, in a breakthrough that has been spurred by a score of Western embargoes. It aimed at reducing external dependency on Western arms through innovative engineering initiatives and domestically developed technologies and ensuring self-sufficiency.
The drive has prompted the development of homegrown air, land and marine platforms, which eventually helped Türkiye seal billions of dollars worth of deals in recent years.
The capabilities of its vehicles, spearheaded by its combat drones, triggered unprecedented demand that saw Türkiye's defense industry exports hit a record of more than $4.4 billion in 2022.
The localization drive helped Türkiye lower its foreign dependency in the defense industry from around 80% in the early 2000s to some 20% today.
Bayraktar TB2 has made a name for itself globally and demand for the drone soared after it featured in conflicts in Syria, Libya and Azerbaijan. Interest increased further following its use by Ukraine’s military to thwart Russian forces.
Baykar has signed deals to sell TB2 to at least 30 countries to date, including four NATO and two European Union member states. It lastly signed a contract worth $367 million with Kuwait for TB2s last month.