The Italian government announced its approval of the sale of Piaggio Aerospace – one of the most prominent Italian aircraft manufacturing companies – to Baykar, a leading Turkish company in the field of manufacturing drones.
A statement issued by Baykar on Friday stated that the Italian Ministry of Business and Manufactures granted official approval for the acquisition.
The statement indicated that “Baykar”, the world’s largest company in manufacturing drones, submitted the best offer within the tender conducted to sell “Piaggio Aerospace”, which was founded in 1884.
The statement explained that the tender process witnessed intense competition, as Baykar outperformed other offers submitted by multiple companies and countries.
Piaggio Aerospace is famous for its production of distinctive business aircraft, especially the P-180 Avanti, known as the “Ferrari of the Sky”, in addition to aircraft engines.
The company also plays a strategic role in supporting the Italian Ministry of Defense by providing maintenance, repair and renewal services.
Piaggio Aerospace is part of the Italian technological infrastructure, with a heritage extending back more than 140 years.
Through this acquisition, Baykar seeks to preserve this history and move it into the future, while strengthening its influence in the European aviation market.
Enhancing production and increasing job opportunities
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 step reflects Turkey’s continued global success in the aircraft industry, as it will add to Baykar’s record of achievements.
Baykar occupies a prominent position among the top 10 Turkish companies in terms of exports, with a value of $1.8 billion in 2023.
Turkish control over the drone market
According to a report issued 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, as it exports its Bayraktar TB2 and Bayraktar Akengi Tiha aircraft to 35 countries around the world.
With this acquisition, Baykar combines its world-leading experience with Piaggio’s historical legacy, strengthening its position as one of the major players in the global aircraft industry.
