Italy approved the sale of aviation giant Piaggio Aerospace to Turkish unmanned combat aerial vehicle manufacturer Baykar.
Baykar announced this in a Friday press release about the approval received from the Ministry of Enterprises and Made in Italy, Adolfo Urso.
The world’s largest UCAV company, Baykar outbid rivals from multiple countries in a competitive tender for the sale of Piaggio Aerospace, which was established in 1884.
Industry and Technology Minister, Mehmet Fatih Kacır, stated that the acquisition was “an indicator of the level of success Turkish aviation and Baykar have achieved on the global stage.” Piaggio Aerospace is best known in the aviation industry for producing the P.180 Avanti business jet and aircraft engines.
The company also plays a strategic role in Italy’s defence industry with its maintenance, repair and overhaul services. Urso said in a press release that the company’s relaunch was guaranteed by a clear and ambitious industrial vision.
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.
Baykar intends to expand its influence in the European aviation market, while preserving Piaggio’s historical heritage and increasing its production capacity. In 2023, Baykar ranked among Turkey’s top ten exporters in all sectors, with exports reaching $1.8 billion.
Turkey dominates 65% of the global unmanned aerial vehicle (UAV) export market. Baykar, meanwhile, alone holds nearly 60 per cent of the market, three times the influence of its closest competitor in the US.
