Sign in Subscribe
Aircraft industry

Lockheed Martin Sells Stake in TUSAS Aerospace Industries

Strategic Insights

— 1 min read

Lockheed Martin, a leading US defense company, has sold its 42% stake in TUSAS Aerospace Industries, a joint venture with Turkish Aircraft Industries. This move is part of Turkey's plan to consolidate its defense industry, with Lockheed Martin stating that it looks forward to continuing to work with the new owner on mutually beneficial programs, including the modernization of Turkish F-16s and participation in the F-35 Joint Strike Fighter programs. The joint venture, established in 1984, has produced 240 F-16s for Turkey and 46 for Egypt, and has been a key player in the aerospace industry.

Key Takeaways:

  • Lockheed Martin has sold its 42% stake in TUSAS Aerospace Industries to Turkish Aircraft Industries, Inc.
  • The joint venture was created in 1984 to support Turkish industrial participation in the purchase of F-16 aircraft from General Dynamics.
  • General Electric, which owned 7% of the joint venture, is also selling its stake to Turkish Aircraft Industries.
  • TUSAS Aerospace Industries produced 240 F-16s for Turkey and 46 for Egypt in the 1980s and 1990s.
  • The company has used this work to begin aerospace design and development work and produce aerostructures and other fixed and rotary wing aircraft.
  • Lockheed Martin plans to continue working with TUSAS Aerospace Industries on programs such as the modernization of Turkish F-16s and participation in the F-35 Joint Strike Fighter programs.
  • The sale is part of Turkey's plan to consolidate its defense industry into one company.

Statistics:

  • 42% - Lockheed Martin's stake in TUSAS Aerospace Industries sold to Turkish Aircraft Industries.
  • 7% - General Electric's stake in TUSAS Aerospace Industries sold to Turkish Aircraft Industries.
  • 1984 - Year the joint venture was established.
  • 240 - Number of F-16s produced by TUSAS Aerospace Industries for Turkey.
  • 46 - Number of F-16s produced by TUSAS Aerospace Industries for Egypt.
  • 1980s-1990s - Time period during which TUSAS Aerospace Industries produced F-16s.

Sources:

  • Access Intelligence, LLC, 2005.

Read more