Turkiye’s Baykar Acquires Italy’s Piaggio Aerospace

TURKIYE’S unmanned combat aircraft giant Baykar has acquired Italy’s Piaggio Aerospace in a deal announced on December 27 2024. The acquisition was approved by Italy’s Ministry of Enterprises and Made in Italy.

Piaggio is one of the oldest aviation companies in the world, founded in 1884 and best known for its P.180 Avanti turboprop business aircraft. In recent years, the firm had contracts for maintenance, repair and overhaul (MRO) work on the Italian military’s rotary-wing fleet.

Italian minister Adolfo Urso said, “After six years of waiting, we are giving Piaggio Aerospace, a strategic asset for our country, a future with a long-term production perspective, safeguarding corporate complexes and workforce.”

A Baykar statement added, “With this acquisition, Baykar is set to expand its influence in the European aviation market while preserving Piaggio’s historical legacy and enhancing its production capacity. Baykar’s future vision includes growing the employment opportunities that Piaggio provides in Italy. This strategic move adds to the global successes of Türkiye’s aviation industry and ensures that Piaggio’s historical identity is carried into the future through this agreement.”

Baykar is best known for its line of Bayraktar TB2 and AKINCI unmanned combat aerial vehicles (UCAV) which have been exported to 35 countries to date, taking the lions share of the global UAV export market with 65% market share.