ASELSAN in Flight! Outperformed Its Rivals One by One
In the first quarter of 2026, marked by rising geopolitical tensions, ASELSAN outperformed global defense companies with a return of 38.2%.
Geopolitical Tensions Pushed Defense Stocks Up
The first quarter of the year in global markets was shaped by increasing geopolitical risks. In particular, the Russia-Ukraine War, tensions between China and Japan in Asia, and the United States’ military moves toward Venezuela led to increased defense spending.
Statements by the administration of Donald Trump regarding Greenland and attacks against Iran further deepened global security concerns. The growing military activity was directly reflected in the stock market performance of defense and aerospace companies.
ASELSAN Took the Lead in the First Quarter
ASELSAN, one of Türkiye’s leading defense industry companies, provided a 38.2% return to its investors in the first quarter of the year, outperforming its global competitors.
During the same period, the company reached a market value of 1.46 trillion TL, strengthening its position as the company with the highest market capitalization in the BIST 100 index.
Technology-Focused Defense Companies Stand Out
A notable shift in global investor trends is also impacting the defense industry. Instead of traditional manufacturing companies, firms that develop advanced technologies and generate high added value are coming to the forefront.
This transformation is particularly benefiting companies developing electronic warfare, radar systems, and integrated defense solutions.
Global Competitors Also Delivered Strong Returns
Defense stocks generally followed a positive trend in the first quarter. The performances of leading companies are as follows:
- Hanwha Aerospace: 32.7%
- BAE Systems: 28.4%
- Lockheed Martin: 25%
- Northrop Grumman: 19.6%
- Leonardo: 18.1%
- L3Harris Technologies: 17.6%
- Dassault Aviation: 16.6%
New defense agreements signed during this period and increasing orders were among the main factors supporting these stocks.
Profit-Taking Noticed in Some Companies
Although the overall trend was upward, declines were observed in some major companies:
- Airbus SE: -18.9%
- Lufthansa: -11.8%
- Boeing: -8.3%
- Rheinmetall: -7.5%
Analysts noted that profit-taking following the strong rallies seen last year was effective in these declines.
