Turkey’s armed and unarmed unmanned aerial vehicle manufacturer Baykar has acquired the Italian aircraft manufacturer Piaggio Aerospace.
According to a statement from Baykar, the Italian Ministry of Enterprises and Made in Italy has approved the sale of the country’s aviation firm Piaggio Aerospace to Baykar.
Baykar stated that the company was acquired after a competitive bidding process but did not disclose the purchase price.
Founded in 1884, Piaggio Aerospace is renowned in the aviation sector for its production of P.180 Avanti business jets, known as the “Ferrari of the Sky,” and aircraft engines.
The Italian Ministry of Industry described Baykar as “the most suitable company to safeguard the interests of Piaggio Aerospace’s workers and creditors and to revive its industrial prospects.”
According to Euronews, Baykar has committed to the following:
- Aircraft production and related technical support
- Training and logistics activities
- Engine maintenance
- Continuing and expanding the production of engine components
Italy’s Minister of Enterprises and Made in Italy, Adolfo Urso, stated that they have “secured the future of Piaggio Aerospace”:
“Piaggio Aerospace, a strategic asset for our country, is being revitalized with a long-term production perspective while preserving its corporate structures and workforce.”
In 2023, Baykar was among Turkey’s top 10 exporters across all sectors, with exports worth $1.8 billion (approximately 63.39 billion Turkish lira).
According to a report by the U.S.-based think tank Center for a New American Security, Turkey dominates 65% of the global unmanned aerial vehicle (UAV) export market.
Baykar alone holds about 60% of the market, three times the size of its nearest U.S. competitor.
In recent years, more than 90% of Baykar’s revenue has come from exports, with the company delivering “Bayraktar TB2 UAVs” and “Bayraktar AKINCI UAVs” to 35 countries.
