Türkiye's leading drone producer Baykar Technologies and Italy's defence giant Leonardo signed a partnership agreement Thursday in unmanned technologies.

The agreement was signed by Leonardo's CEO Roberto Cingolani, Baykar's Chairman Selcuk Bayraktar and CEO Haluk Bayraktar at Leonardo headquarters in Rome.

"We have been in intensive negotiations for months.

We were already working with Leonardo and there are systems we have integrated," said Selcuk Bayraktar.

"We were already cooperating and the chemistry and synergy has developed in a fascinating way in recent months," he noted.

Stressing that the two companies have complementary features, Selcuk Bayraktar said: “We can make the best systems together. We thank them for their cooperation, we are very happy to start this journey.”

“Today is a very important day as we are signing a memorandum of understanding with Baykar. We have identified important cornerstones with our colleagues from Baykar," said Cingolani.

Stating that they are going through a complex period, Cingolani said the agreement is a product of their intensive work in the last five months.

“This is a great result,” Cingolani said, noting that the agreement is for five years but envisages a deeper cooperation.

Cingolani also stated that he was very impressed by his visit to Baykar facilities in Istanbul, adding that Baykar has a very wide product family in UAVs (unmanned aerial vehicles).

Additionally, production will be carried out in Türkiye and Italy under the partnership of the two companies.

Baykar and Leonardo expect the unmanned aerial vehicles market in Europe to reach $100 billion in the next 10 years.

The producer of prominent unmanned combat aerial vehicles (UCAVs) Bayraktar TB2 and Akinci, Baykar Technologies has been widening its cooperation network in Italy.

Baykar acquired Italian aerospace giant Piaggio in December and Italy's Made in Italy Ministry had hinted at Leonardo's possible cooperation with Baykar.