Latest news with #Kaan
The Star
5 hours ago
- Business
- The Star
Erdogan says Indonesia to buy nearly 50 fighter jets from Turkey
ISTANBUL: Turkey will sell 48 fighter jets to Indonesia in the coming decade, President Recep Tayyip Erdogan said, as Ankara pushes to build its defence industry and increase exports of military hardware. The agreement to sell the Kaan fifth-generation planes, which Turkey is still developing, is a "record-breaking' military deal for the country, Erdogan said, without disclosing financial details. It "clearly reflects the progress and capabilities of our domestic and national defence industry,' he added. A spokesperson for Indonesia's defence ministry didn't immediately respond to a request for comment. President Prabowo Subianto's office said he witnessed the signing of a memorandum of understanding on fifth-generation jet procurement, without providing further details. Amid a global rise in defence spending, driven in part by wars in Ukraine and the Middle East, Turkey boosted such expenditure by 12 per cent last year to US$25 billion, according to the Stockholm International Peace Research Institute. As well as the Kaan project, Erdogan wants Turkey to be a leader in the fields of drones and armoured vehicles. Turkey has been trying to develop Kaan jets - which flew for the first time last year - with other countries including Saudi Arabia, Bloomberg has reported. Ankara has also asked for US permission to make GE Aerospace F110 engines, which power the twin-engined Kaan warplane. Indonesia, South-East Asia's largest economy, is diversifying military partnerships beyond its traditional allies in the West, exploring cooperation with countries such as Turkey and China as part of President Prabowo's push to strengthen the armed forces. Turkey and Indonesia have deepened their military ties recently. In April, they said they will establish a joint venture between their strategic defence companies, partly to develop submarines. The Kaan deal with Turkey comes shortly after Indonesia revealed that China had offered to sell it J-10 fighter jets - aircraft recently battle-tested in Pakistan's clashes with India over Kashmir. Indonesia's plans to modernise its fighter fleet haven't always gone smoothly. In 2023, under Prabowo's leadership as defence minister, Jakarta signed a preliminary deal with Boeing Co. for 24 F-15EX jets but it hasn't yet been finalised. Budget limitations also present a potential hurdle. Indonesia allocated about US$8.2 billion to its military last year, with more than a quarter of that for upgrades to equipment and infrastructure. Major acquisitions such as fighter jets are typically funded through a separate foreign loans programme, which had a five-year budget of US25 billion through 2024. Indonesia already has an active contract with France's Dassault Aviation SA for 42 Rafale jets, signed in 2022 with an estimated value of US$8.1 billion. The country is also a partner in South Korea's KF-21 fighter jet programme, aimed at producing a next-generation supersonic aircraft. - Bloomberg
Express Tribune
17 hours ago
- Business
- Express Tribune
Turkiye secures $10b fighter jet deal with Indonesia
Listen to article Ankara has agreed a deal to export 48 Turkish-made fighter jets to Indonesia, President Recep Tayyip Erdogan announced on Wednesday. Turkiye's defence sector, including the famous Bayraktar drones, accounts for a significant share of the country's export revenues. 'As part of the agreement signed with our friendly and brotherly country, Indonesia, 48 Kaan (fighter jets) will be produced in Turkiye and exported to Indonesia,' Erdogan wrote on X. The contract, valued at 10 billion dollars, includes the production and delivery of the Kaan fighter jets to Indonesia over a ten-year period, according to Turkish media. The deal also includes a technology transfer to Indonesia, Turkish broadcaster TRT Haber reported. Read more: Indonesia mulls buying China's J-10 jets 'Indonesia's local capabilities will also be utilised in the production of Kaan' jets, the Turkish head of state said on X, without providing further details. The fifth-generation fighter jet Kaan, produced by state-run Turkish Aerospace Industries (TAI), made its first flight in February 2024. It was then equipped with the same type of engines as those of the F-16 fighter jets but Turkiye ultimately plans to equip Kaan jets with a locally produced engine. In 2024, Turkiye's defence industry export revenues reached $7.1 billion, an increase of $1.6 billion compared with 2023.
India.com
18 hours ago
- Business
- India.com
Major boost for Pakistan backer Turkey as THIS Muslim country signs Rs 83,500 crore deal to buy Turkish Kaan fighter jets, it's not Pakistan, Saudi, UAE, Qatar
Kaan fighter jets Kaan fighter jets: Amid growing tensions between India and Turkey, India's friend Indonesia has signed massive defence deal with Turkey. In the latest development, Turkey has signed a $10 billion (Rs 83,500 crore ) worth agreement to export Kaan fighter jets to Indonesia. The deal is very significant as it comes at a time when India is shaming the Turkish defence industry for supporting Pakistan during the recent tensions. Here are all the deal you need to know about the Indonesia-Turkey $10 billion worth defence agreement. Indonesia to get 48 Kaan fighter jets 'Under the agreement signed with our friendly and brotherly nation, Indonesia, 48 Kaan jets will be produced in Türkiye and exported to Indonesia,' Erdoğan wrote on the social media platform X. regarding the deal. 'Indonesia's local capabilities will also be utilized in the production of Kaan. This agreement showcases the progress and achievements of our domestic and national defense industry', the Turkish President added. Technology transfer to Indonesia As per Turkish news agency Anadolu, the deal includes the production and delivery of the advanced aircraft to Indonesia over a 10-year period along with technology transfer to Indonesia. 'Countries like Qatar, Azerbaijan, Saudi Arabia, and a few others are also considering acquiring the aircraft', Yusuf Akbaba, a Turkish defence industry expert was quoted as saying about the deal to Middle East Eye. ''To reduce costs, it is essential to increase the number of orders. After this order from Indonesia, procurement processes in those countries may also accelerate', he added. Kaan fifth-generation warplane Kaan is a fifth-generation warplane that was first publicly unveiled in 2023 before it performed it made its maiden test flight in early 2024. The serial production of the aircraft is expected to begin in 2028. The fifth-generation fighter jet is powered temporarily by two General Electric F110-GE-129 engine, which is also used in the Turkish F-16 fighter aircrafts.
Free Malaysia Today
20 hours ago
- Business
- Free Malaysia Today
Erdogan says Turkey to export 48 fighter jets to Indonesia
Turkey's defence sector is famous for its Bayraktar drones. (EPA Images pic) ANKARA : Ankara has agreed a deal to export 48 Turkish-made fighter jets to Indonesia, president Recep Tayyip Erdogan announced today. Turkey's defence sector, including the famous Bayraktar drones, accounts for a significant share of the country's export revenues. 'As part of the agreement signed with our friendly and brotherly country, Indonesia, 48 Kaan (fighter jets) will be produced in Turkey and exported to Indonesia,' Erdogan wrote on X. The contract, valued at US$10 billion, includes the production and delivery of the Kaan fighter jets to Indonesia over a ten-year period, according to Turkish media. The deal also includes a technology transfer to Indonesia, Turkish broadcaster TRT Haber reported. 'Indonesia's local capabilities will also be utilised in the production of Kaan' jets, the Turkish head of state said on X, without providing further details. The fifth-generation fighter jet Kaan, produced by state-run Turkish Aerospace Industries (TAI), made its first flight in February 2024. It was then equipped with the same type of engines as those of the F-16 fighter jets but Turkey ultimately plans to equip Kaan jets with a locally produced engine. In 2024, Turkey's defence industry export revenues reached US$7.1 billion, an increase of US$1.6 billion compared with 2023.
Business Recorder
a day ago
- Business
- Business Recorder
Turkiye to export 48 fighter jets to Indonesia: Erdogan
ANKARA: Ankara has agreed a deal to export 48 Turkish-made fighter jets to Indonesia, President Recep Tayyip Erdogan announced on Wednesday. Turkiye's defence sector, including the famous Bayraktar drones, accounts for a significant share of the country's export revenues. 'As part of the agreement signed with our friendly and brotherly country, Indonesia, 48 Kaan (fighter jets) will be produced in Turkiye and exported to Indonesia,' Erdogan wrote on X. The contract, valued at 10 billion dollars, includes the production and delivery of the Kaan fighter jets to Indonesia over a ten-year period, according to Turkish media. Chinese defence stocks surge as Pakistan signals major arms deal: report The deal also includes a technology transfer to Indonesia, Turkish broadcaster TRT Haber reported. 'Indonesia's local capabilities will also be utilised in the production of Kaan' jets, the Turkish head of state said on X, without providing further details. The fifth-generation fighter jet Kaan, produced by state-run Turkish Aerospace Industries (TAI), made its first flight in February 2024. It was then equipped with the same type of engines as those of the F-16 fighter jets but Turkiye ultimately plans to equip Kaan jets with a locally produced engine. In 2024, Turkiye's defence industry export revenues reached $7.1 billion, an increase of $1.6 billion compared with 2023.
