Turkey’s high-tech defence industry leader, Baykar, has taken a critical step involving the transfer of key assets from Italian aerospace giant Piaggio Aerospace. Renowned for its unmanned aerial vehicle (UAV) systems and aviation technologies, Baykar has signed a preliminary agreement for the transfer of the industrial complex encompassing Piaggio Aero Industries and Piaggio Aviation.
Approval from the Italian Ministry
On 27 December 2024, Italy’s Ministry of Enterprises and Made in Italy officially approved the transfer. The process is expected to be finalised in spring 2025, subject to additional requirements, including authorisation from the Italian Presidency of the Council of Ministers (Golden Power).
Details of the Agreement
A statement from Piaggio confirmed that the agreement was signed by Piaggio Aerospace’s Extraordinary Commissioners Carmelo Cosentino, Vincenzo Nicastro, and Gianpaolo Davide Rossetti, along with Baykar’s CEO Haluk Bayraktar. The transaction is being handled with the legal support of BonelliErede and Gianni & Origoni law firms.
This agreement holds the potential to merge Piaggio Aerospace’s strong aviation heritage with Baykar’s innovative technologies. The move is seen as part of Baykar’s strategy to enhance its presence on the global stage.
As a global leader in UAVs and advanced aviation technologies, Baykar is expected to bring a fresh perspective to the sector by integrating Piaggio Aerospace’s expertise and infrastructure.
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