The Turkish Baykar acquires Italian aircraft manufacturing giant Piaggio Aerospace

The Italian government has announced its approval of the sale of Piaggio Aerospace, one of Italy’s leading aircraft manufacturers, to Baykar, a leading Turkish drone manufacturer.

The Italian Ministry of Business and Industries has given formal approval for the acquisition, Baykar said in a statement on Friday.

The statement indicated that Baykar, the world’s largest drone manufacturer, submitted the best offer in the tender held to sell Piaggio Aerospace, which was founded in 1884.

The statement explained that the bidding process witnessed fierce competition, as Baykar outperformed other offers submitted by various companies and countries.

Piaggio Aerospace is known for producing distinctive business jets, most notably the P-180 Avanti, known as the “Ferrari of the sky,” as well as aircraft engines.

The company also plays a strategic role in supporting the Italian Ministry of Defense by providing maintenance, repair and overhaul services.

Piaggio Aerospace is part of the Italian technological infrastructure, with a legacy spanning more than 140 years.

With this acquisition, Baykar seeks to preserve this history and carry it into the future, while strengthening its influence in the European aviation market.

Baykar explained that this acquisition represents a strategic step to enhance its production capacity, while committing to preserving Piaggio’s historical identity and legacy.

The Turkish company aims to increase the job opportunities provided by Piaggio Aerospace in Italy as part of its future vision.

This move reflects Türkiye’s continued global success in the aircraft industry, adding to Baykar’s record of achievements.

Baykar ranks among the top 10 Turkish companies in terms of exports, with a value of $1.8 billion in 2023.

According to a report by the Center for a New American Security (CNAS), Türkiye dominates 65% of the global drone market.

Baykar has achieved more than 90% of its revenues from exports in recent years, exporting its Bayraktar TB2 and Bayraktar Akıncı Tiha drones to 35 countries around the world.

With this acquisition, Baykar combines its world-leading expertise with Piaggio’s historical legacy, strengthening its position as a key player in the global aircraft industry.