Baykar Completes Acquisition of Italy’s Historic Piaggio Aerospace

Turkish drone manufacturer Baykar Technologies has completed the acquisition of Italian aviation firm Piaggio Aerospace, marking a significant step in expanding its aircraft production and entering the business jet market. The deal, confirmed by Italy's Ministry of Enterprises and Made in Italy, includes Piaggio Aero Industries and Piaggio Aviation, which have been under extraordinary administration since 2018. Italian Minister Adolfo Urso described the acquisition as a strategic move to revitalize a historic Italian aeronautical brand and to strengthen the competitiveness of the Italian and European aerospace industry, particularly in the unmanned aircraft sector. The acquisition has also reinforced Baykar's partnership with Italian defense company Leonardo, aiming to position Italy as a leader in the European unmanned aviation market. Baykar's leadership expressed a commitment to honoring Piaggio's legacy while boosting production, innovation, and transforming its facilities into a center of excellence for aircraft and engine maintenance. This long-term industrial vision involves increasing production of the P.180 Avanti EVO and expanding human resources, signaling a sustainable future for the company.