Otokar, one of Turkey's leading military land vehicle manufacturers, announced in a statement to the Public Disclosure Platform (KAP) that it has signed a landmark defense export agreement that has drawn global attention.
The company announced that it has concluded a mega-deal worth a total of $1,472,080,360 with an undisclosed international customer, encompassing the supply of wheeled armored vehicles of various types and their associated integrated logistic support services.
Deliveries are projected to begin as of 2027 and be completed in batches over a 3-year period. The agreement will remain in effect for a total of 7 years.
It was stated that the contract will officially enter into force following the receipt of official regulatory approvals, the completion of letter of guarantee procedures, and the disbursement of the advance payment. To secure its obligations and the advance payment to be collected, Otokar will provide the customer with letters of guarantee totaling $441,624,108.
Operating under the umbrella of Koç Holding, Otokar has long been among the leading players in the global market with its proprietary-designed wheeled armored vehicles, most notably the Cobra and Arma families. This massive-scale $1.47 billion contract has once again certified the Turkish defense industry's competitive edge in international markets and its capacity to undertake projects exceeding the billion-dollar threshold.
Successfully deployed in numerous missions—including border security, internal security, and peacekeeping operations—and having long been among the land vehicle suppliers of NATO and the United Nations, Otokar has over 33,000 military vehicles actively serving in the inventories of more than 80 end users across roughly 50 countries.