Baykar has made a strategic investment in the European aviation industry by acquiring Italy’s aerospace giant, Piaggio Aerospace. The move marks a historic step in strengthening industrial cooperation between Turkey and Italy.
A leading company in Turkey’s defense and aviation sector, Baykar has officially completed the acquisition of the 140-year-old Italian aerospace firm Piaggio Aerospace. The acquisition process was initiated with the approval of Italy’s Ministry of Enterprises and Made in Italy and finalized under the “Golden Power” regulatory oversight of the Italian Prime Minister’s Office.
The acquisition was publicly announced at a signing ceremony held in Rome, attended by Italy’s Minister of Enterprises and Made in Italy Adolfo Urso, Baykar CEO Haluk Bayraktar, and Piaggio Aerospace’s extraordinary commissioners Carmelo Cosentino, Vincenzo Nicastro, and Gianpaolo Davide Rossetti.
Baykar’s Industrial Breakthrough in Europe
During the ceremony, Baykar CEO Haluk Bayraktar emphasized their commitment to preserving Piaggio Aerospace’s legacy:
“We respect the dedicated employees who have kept Piaggio Aerospace alive. Together, we will create new opportunities and focus on restructuring the company for sustainable growth.”
Baykar Chairman and CTO Selçuk Bayraktar described the acquisition not only as a purchase but also as an initiative to reinvigorate Italian aviation:
“We will increase the production capacity of the P.180 Avanti EVO and establish a Europe-wide center of excellence for maintenance and repair. Our goal is to further deepen the industrial cooperation between Turkey and Italy.”
Strategic Support from the Italian Government
Minister Adolfo Urso called the acquisition a “strategic win for Italy.” He noted that the “Golden Power” mechanism enables Italy to protect its industrial sovereignty while also attracting high-quality international investment.
The extraordinary commissioners stated that this sale represents a “rebirth for Italian aviation,” bringing benefits in terms of employment, industrial continuity, and contributions to the European aerospace ecosystem.
Comprehensive Industrial Plan for the European Market
To strengthen Piaggio Aerospace’s strategic role within the European industrial ecosystem, Baykar has developed a comprehensive industrial plan, which includes:
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Relaunching the P.180 Avanti EVO aircraft with updated technologies for the global market.
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Transforming Piaggio’s existing production facilities into support centers for Bayraktar TB2 and Bayraktar AKINCI production.
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Establishing a Europe-wide center of excellence for aircraft and engine maintenance.
Baykar: A Global Success Story
Since beginning UAV development in 2003, Baykar has financed all its projects with its own resources, becoming a unique success story in the defense industry. With an export volume of $1.8 billion in just 2023 and 2024, Baykar has been the leader in Turkey’s defense and aerospace exports for the past four years.
To date, Baykar has signed export agreements for the Bayraktar TB2 with 35 countries and for the Bayraktar AKINCI with 15 countries, further solidifying its position as a global representative of Turkish aviation.
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