Turkish drone giant Baykar has officially completed its acquisition of Italy’s storied aviation manufacturer Piaggio Aerospace, the Italian Ministry of Enterprises and Made in Italy announced Monday.
The deal, first revealed in December 2023, was finalised in Rome with the formal transfer of both Piaggio Aero Industries and Piaggio Aviation—two companies previously under extraordinary administration.
The acquisition marks a rare moment of convergence between Turkish and European aerospace interests, and is expected to significantly reshape the continent’s civil and military aviation landscape.
A strategic leap for Italian industry
Italy’s Minister of Enterprises Adolfo Urso hailed the completion of the deal as a turning point in revitalising one of the country’s most iconic industrial brands.
“This is a strategic step for the relaunch of one of the historic names in Italian aviation, backed by a major international investor whose industrial plan opens up new opportunities in the unmanned aircraft sector,” Urso said.
The minister noted that the acquisition will deepen Italy’s aerospace competitiveness while reinforcing industrial ties with Türkiye.
He highlighted the deal’s ripple effect on Baykar’s existing cooperation with Italy’s largest defence company, Leonardo, calling it a gateway to stronger European positioning in the aerospace market.
Baykar’s vision: Preserving legacy, building the future
Speaking after the agreement, Baykar CEO Haluk Bayraktar described the move as more than a business transaction, positioning it instead as a long-term commitment to European innovation.
“We aim to relaunch Piaggio Aerospace with an ambitious industrial vision that honors its heritage and unlocks its full potential,” he said.
Bayraktar paid tribute to the resilience of Piaggio employees who kept the company afloat during years of uncertainty, and pledged to work alongside them to drive new innovation.
Baykar Chairman and Chief Technology Officer Selcuk Bayraktar echoed the sentiment, calling the acquisition a “great honor” and emphasising the company’s aim to strengthen Piaggio’s role in both civil aviation and defense technologies.
“Our goal is to revitalise this historic brand by investing in the production of the P.180 Avanti EVO and expanding Piaggio’s function as a center of excellence in European aircraft and engine maintenance,” he said.
Selcuk Bayraktar added that Baykar is deeply committed to maintaining Piaggio’s unique identity while aligning it with cutting-edge global standards of safety, performance, and innovation.
Repositioning Piaggio in the global aerospace sector
The revitalisation plan includes relaunching the P.180 Avanti EVO aircraft with updated technological capabilities. The company also aims to meet international demand for its flagship combat drones—the Bayraktar TB2 and Bayraktar Akinci—through production at Piaggio’s Italian facilities.
In tandem, Baykar plans to establish a European hub for aircraft and engine maintenance, further solidifying Piaggio’s place in the continent’s aerospace ecosystem.
The overarching goal is to preserve the brand’s legacy while embedding it into the future architecture of unmanned aviation in Europe.
Baykar's rapid rise as a global drone power
Founded in 2003, Baykar has become the world’s largest exporter of unmanned aerial vehicles (UAVs). In both 2023 and 2024, the company recorded $1.8 billion in export revenues, generating over 90 percent of its income from international markets.
Baykar has signed export agreements with 35 countries for its Bayraktar TB2 drone and with 15 countries for its more advanced Akinci model.
The company was named Türkiye’s top defence and aerospace exporter for four consecutive years and ranked among the top 10 exporters across all industries in the country in both 2023 and 2024.
According to data from the Turkish Exporters’ Assembly and the Presidency of Defense Industries, Baykar accounted for one-third of Türkiye’s total defence exports in 2023 and one-fourth in 2024, securing its place as a key driver of Türkiye’s high-tech manufacturing footprint.
SOURCE:TRT World and Agencies
