Aselsan and CIEL Defence Sign MoU to Explore Canadian-Owned Defence Production

CIEL Defence Inc. signed a memorandum of understanding with Aselsan on October 23, 2026 to explore developing majority Canadian-owned defence industrial capabilities, the Financial Post reported. CIEL Defence is the defence-focused investment arm of Canadian private investment firm CIEL Capital Inc.

What the Aselsan and CIEL Framework Covers

The agreement sets up a framework to evaluate opportunities for technology and know-how transfer, domestic manufacturing and assembly, systems integration and Canadian supply-chain development. The companies intend to identify opportunities that could support industrial production and skilled employment in Canada. Individual investments and projects would proceed under separate commercial agreements.

Aselsan is a publicly traded Türkiye-based defence technology company ranked 40th in the 2026 Defense News Top 100 and employing 15,000 professionals. CIEL Capital was founded by Wayne and David Albo in 2012 and holds a portfolio of Canadian businesses employing approximately 700 people and generating approximately CAD $200 million in combined annual revenue. CIEL Capital owns HFI Pyrotechnics Inc., a manufacturer of pyrotechnic search and rescue and training devices founded in 1873 that is a member of Canada's Munitions Supply Program.

"Canada needs a defence industrial base built on well-capitalized Canadian companies with owners and partners dedicated to building sovereign capability through IP development," said David Albo, Founder and Managing Partner of CIEL Capital. "ASELSAN brings the scale and expertise of a world-class defence technology company. Together, we now have a framework to explore what can be built and sustained in Canada, under Canadian ownership."

Ahmet Akyol, Aselsan President & CEO, said: "Canada is a priority market for ASELSAN, and we welcome the opportunity to strengthen the strategic partnership between Türkiye and Canada. Our cooperation with CIEL Capital reflects our commitment to building a lasting presence in Canada through potential areas of collaboration, joint production and joint marketing."

Aselsan's Recent Contract and Partnership Record

According to akta.pro company records, Aselsan secured a €780 million (about $900 million) Steel Dome air defense contract with Turkey's Presidency of Defense Industries in June 2026, with deliveries scheduled 2028–2032. The same records list a June 2026 MoU with Daimler Truck / Mercedes-Benz to explore integrating ASELSAN payloads onto Mercedes-Benz Truck platforms for air defence and electronic warfare programmes, and a June 2026 Letter of Intent with Latvian manufacturer VIC TEC to enhance Latvia's counter-UAS capabilities.

Earlier Aselsan Agreements Abroad

On September 30, 2026, Azerbaijan signed weapons production agreements with Aselsan, including a pact to explore local manufacturing of precision-guided munitions, with a new site in Nakhchivan that could be used to build Tolun-series weapons, Flightglobal reported. On September 23, 2026, Aselsan and Roketsan signed a 1.23 billion euro contract for air defense system components supporting Türkiye's Steel Dome program, according to Hurriyetdailynews. On October 5, 2026, Aselsan signed agreements worth $2.75 billion with Türkiye's Secretariat of Defense Industries for hybrid air defense systems, Hurriyetdailynews reported.

Steel Dome Deliveries Scheduled to 2032

The June 2026 Steel Dome contract with Turkey's Presidency of Defense Industries carries deliveries scheduled from 2028 to 2032, according to akta.pro company records.