Latest news with #HalukBayraktar
The Star
6 days ago
- Business
- The Star
Trendyol, Baykar CEO, ADQ and Ant International to develop fintech platform in Turkey
FILE PHOTO: Haluk Bayraktar, CEO of Turkish drone-maker Baykar, poses before an interview with Reuters at SAHA EXPO Defence & Aerospace Exhibition in Istanbul, Turkey, October 27, 2022. REUTERS/Umit Bektas/File Photo ANKARA (Reuters) -Turkey's Trendyol Group, Baykar CEO Haluk Bayraktar, Abu Dhabi's sovereign fund ADQ and Ant International have agreed to explore a potential joint fintech venture offering digital financial services in Turkey, the companies said on Wednesday. The four parties signed a memorandum of understanding to form a platform that would provide services including digital payments, loans, deposits, investments and insurance. The launch would be subject to regulatory approvals. The companies said the platform would target individuals and small businesses, with a particular focus on Trendyol's network of sellers. "The project aims to combine Trendyol's e-commerce infrastructure, Baykar's AI and cybersecurity tools and Ant's experience in financial technology," a statement said. Bayraktar, best known for leading Turkey's top drone manufacturer, said the initiative would rely on domestic infrastructure and aim for high security standards. Alibaba Group President Michael Evans, representing Trendyol's main investor, said the partnership reflected interest in Turkey's digital economy while ADQ's deputy CEO, Mansour AlMulla, cited the country's growth potential in the sector. Ant International said Turkey's large and digitally active population made it a significant market. The companies did not disclose an expected investment size. (Reporting by Ebru Tuncay in Ankara, Writing by Ece Toksabay; Editing by Matthew Lewis)
Yahoo
6 days ago
- Business
- Yahoo
Trendyol, Baykar CEO, ADQ and Ant International to develop fintech platform in Turkey
ANKARA (Reuters) -Turkey's Trendyol Group, Baykar CEO Haluk Bayraktar, Abu Dhabi's sovereign fund ADQ and Ant International have agreed to explore a potential joint fintech venture offering digital financial services in Turkey, the companies said on Wednesday. The four parties signed a memorandum of understanding to form a platform that would provide services including digital payments, loans, deposits, investments and insurance. The launch would be subject to regulatory approvals. The companies said the platform would target individuals and small businesses, with a particular focus on Trendyol's network of sellers. "The project aims to combine Trendyol's e-commerce infrastructure, Baykar's AI and cybersecurity tools and Ant's experience in financial technology," a statement said. Bayraktar, best known for leading Turkey's top drone manufacturer, said the initiative would rely on domestic infrastructure and aim for high security standards. Alibaba Group President Michael Evans, representing Trendyol's main investor, said the partnership reflected interest in Turkey's digital economy while ADQ's deputy CEO, Mansour AlMulla, cited the country's growth potential in the sector. Ant International said Turkey's large and digitally active population made it a significant market. The companies did not disclose an expected investment size.
India.com
04-06-2025
- Politics
- India.com
Turkey's killer drones to shape future wars, make fighter jets obsolete? Baykar CEO claims..., concern for India due to...
Baykar's Kizilelma UCAV is being touted as a game-changer. Kizilelma drone: Advanced military drones will shape the outcome of future wars and eventually make human-piloted fighter jets obsolete, Haluk Bayraktar, CEO of Turkish drone manufacturing giant Baykar Defense, has asserted. In an interview with The Atlantic, Haluk Bayraktar, the son-in-law of Turkish President Recep Tayyip Erdoğan, stated that future wars will be completely unmanned and will be fought with advanced military drones. 'Today, there are about 13,000 manned fighter jets in the world. But in the coming years, all these platforms will gradually become unmanned. Even if this replacement is not like a drone from a fighter plane, that is, a fighter jet would be replaced by not one drone, but by deploying 3 to 5 drone platforms. The direction is clear, wars will now be in the hands of machines instead of humans,' Bayraktar said. Turkey emerging as global drone powerhouse Baykar Defense, once a small drones maker, has emerged as one of the world's fastest growing defense manufacturers in recent years, with its battle-tested Bayraktar TB2 drone now recognized as a formidable aerial force after its performance in Syria, Russia-Ukraine war, and the Azerbaijan-Armenia conflict. Currently, Baykar Defense is developing Bayraktar TB3 drone, the new and advanced successor to the Bayraktar TB2 killer drone, as well as the AKINCI and the ambitious KIZILELMA drone project. Haluk Bayraktar, who is married to Sümeyye Erdoğan– the daughter of Recep Tayyip Erdogan– asserted that Turkey's defense industry is growing at a rapid pace and his company has the capacity to produce 250 Bayraktar TB2 drones each year. Baykar is also working to build 50 AKINCI UCAVs per year, and work is underway to the double the manufacturing capacity for Bayraktar TB3 and KIZILELMA UCAVs, Haluk said. What is the Kizilelma project and why it could change future warfare? The Kizilelma UCAV is arguably Baykar's most ambitious drone project till date. The Kizilelma, which is being developed by Baykar Defense under Turkey's broader defense program, Project MIUS, is a jet-powered, single-engine, low-observable, carrier-capable unmanned combat aerial vehicle (UCAV). Designed with advanced AI and autonomous flight capabilities, including autonomous take-off and landing on carriers, station-controlled missions, and even autonomous dogfighting, Kizilelma has semi-stealth capabilities due to a low radar cross-section, and boasts a service ceiling for 13,716 meters (45,000 feet), and an operational altitude of (7,620 meters) 25,000 feet. The Kizilelma UCAV is designed to operate from aircraft carriers, including short-runway carriers, and can carry various types of armaments, including missiles, laser-guided munitions, long-range cruise missiles, with its stated payload capacity of 1.5 tonnes. The UCAV can reach a maximum speed of Mach 0.9, and can Mach 0.6, according to details. Haluk Bayraktar described the Kizilelma as an independent fighter rather than a wingman (support drones that accompany fighter jets), which could replace manned fighters in the near future. Notably, an advanced UCAV like Kizilelma drone costs around $5 million to $10 million, significantly cheaper than a fighter jet, which can run to $100 million- $150 million for a 5th-gen aircraft like the F-35. Additionally, the maintenance costs of UCAVs are much lower than fighter planes, making them an enticing option for countries with lower defence budgets. Why India should be concerned? During the recent India-Pakistan conflict, Pakistani forces launched more than 400 drones, most of them Turkish made towards India, but all of them were successfully shot down by India's layered air defense system. The Pakistani drones included the Turkish Bayraktar TB2s, Byker YIHA III kamikaze drones, Songatri and eYatri loitering munitions, but every single one was shot down with100 percent accuracy by India's homegrown Akashteer air defence system, according to Indian armed forces. However, the drone barrage by Pakistan provided a glimpse of how a future India-Pakistan war would be fought, and experts stress that India must develop an indigenous drone manufacturing industry to prepare for such a scenario.
Yahoo
26-02-2025
- Business
- Yahoo
Türkiye begins preparing specialists for Ukrainian Baykar facility
In Türkiye, the Baykar company has begun training future employees for the drone production plant currently under construction in Ukraine. Source: Ukrinform, citing Haluk Bayraktar, CEO of Baykar Quote: "We are currently in the training phase. We have 20 students from the Kyiv Aviation Institute and 14 employees. We are training them at Baykar for at least nine months and new groups of people will be arriving throughout the training period." Details: He also noted that equipment and machinery for the Ukrainian facility have already been ordered. Quote: "We are moving forward. We want and hope for a just peace. We would like to start immediately after that. We are ready for it. We are preparing and getting very close to this." Background: Turkish company Baykar plans to complete the construction of its drone manufacturing plant in Ukraine by August 2025. The facility will produce Bayraktar TB2 drones or their upgraded TB3 version, capable of carrying a heavier payload. Support Ukrainska Pravda on Patreon!
