Piaggio Aerospace, established in 1884, is renowned for its P.180 Avanti business jets, known as the “Ferrari of the skies,” and its contributions to Italy’s defense sector. Baykar’s acquisition is set to preserve Piaggio’s legacy while enhancing its production capabilities, with a focus on maintaining employment opportunities in Italy.
The deal was praised by Adolfo Urso, Italy’s Minister of Enterprises, who highlighted the company’s relaunch under Baykar’s leadership. He emphasised that the acquisition guarantees Piaggio’s future with a strong industrial vision, safeguarding jobs and production in Italy.
Baykar, which has become a key player in the global UAV market, sees this acquisition as a strategic move to strengthen its presence in Europe. The Turkish firm plans to integrate Piaggio’s technology and workforce into its expanding portfolio, while enhancing its capacity for UAV production.
The acquisition is also viewed as a significant step in boosting economic and diplomatic ties between Turkey and Italy. Turkish officials, including Industry and Technology Minister Mehmet Fatih Kacır, have celebrated the deal as a reflection of Baykar’s success on the global stage and its role in the advancement of Turkish aviation.
Haluk Bayraktar, CEO of Baykar, expressed pride in carrying Piaggio’s historical brand forward, stating that the acquisition strengthens both companies’ production capacities. Baykar’s rapid growth, having generated over USD 1.8 billion in exports in 2023, underscores the importance of this deal as it continues to lead the UAV market worldwide.
