Turkish drone manufacturer Baykar Technologies has successfully acquired Italy’s Piaggio Aerospace, following approval from the Italian Ministry of Enterprises and Made in Italy. This acquisition represents a significant milestone for Baykar, the leading global producer of unmanned combat aerial vehicles (UCAVs), who successfully outperformed international rivals to secure this historic aviation firm.
Founded in 1884, Piaggio Aerospace is famous for its P.180 Avanti business aircraft, often called the “Ferrari of the skies,” and its significant contributions to Italy’s defense sector. Baykar’s acquisition aims to uphold Piaggio’s legacy while boosting its production capabilities, and it is committed to preserving jobs in Italy.
Adolfo Urso, Italy’s Minister of Enterprises, praised the acquisition, emphasizing the company’s potential for revitalization under Baykar’s leadership. He highlighted that this deal ensures Piaggio’s future with a robust industrial vision, safeguarding jobs and production within Italy.
As a prominent player in the global UAV market, Baykar views this acquisition as a strategic initiative to enhance its footprint in Europe. The Turkish company plans to integrate Piaggio’s technology and workforce into its growing portfolio, further augmenting its UAV production capacity.
This acquisition is also perceived as a significant advancement in strengthening economic and diplomatic relations between Turkey and Italy. Turkish officials, including Industry and Technology Minister Mehmet Fatih Kacır, have celebrated the deal as a testament to Baykar’s international success and contribution to the progression of Turkish aviation.
Haluk Bayraktar, CEO of Baykar, expressed his pride in advancing Piaggio’s historic brand, asserting that the acquisition enhances the production capabilities of both companies. Baykar’s impressive growth, which saw over USD 1.8 billion in exports in 2023, highlights the significance of this deal as it continues to lead the UAV market globally.