Defense agreements worth at least $50 billion have been signed during the defense industry forum held alongside the NATO Summit in Türkiye's capital Ankara.

The contracts cover a wide range of military projects, including the procurement of air defense systems, unmanned aerial vehicles (UAVs), and joint programs for the development and production of advanced weapons and combat equipment, The Caspian Post reports via Türkiye newspaper.

Speaking on the sidelines of the summit, NATO Secretary General Mark Rutte said that 20 NATO member states will participate in the Drone Edge initiative, investing $40 billion over the next five years to expand drone production and develop counter-drone technologies.

Rutte also indicated that NATO allies were expected to finalize defense contracts worth tens of billions of dollars during the Ankara summit, highlighting the alliance's push to strengthen its defense industrial base.

The two-day NATO Summit in Ankara has brought together leaders from all 32 member states of the alliance. A plenary session featuring heads of state and government is scheduled for July 8, with defense cooperation and security expected to dominate the agenda.