Turkey’s Baykar Receives Italian Nod To Buy Piaggio

Turkish military drone maker Baykar has received approval from Italian authorities to acquire Piaggio Aerospace, clearing the path for the sale of the business pusherprop manufacturer after a protracted search for a new owner.

Announcing the approval from the Ministry of Enterprises and Made in Italy on Monday, Baykar said it outbid suitors from multiple countries for the acquisition of the P.180 Avanti manufacturer, which has been in receivership since 2018. Baykar did not detail the terms of the acquisition.

“After six years of waiting, we are giving Piaggio Aerospace, a strategic asset for our country, a future with a long-term production perspective, safeguarding corporate complexes and workforce,” said Italian Minister Adolfo Urso. He noted that Baykar guaranteed the relaunch of Piaggio with a clear industrial vision.

The acquisition will enable Baykar to expand deeper into the European aviation market, the company said, citing plans to preserve Piaggio’s historical legacy—and identity—while enhancing production capacity. Baykar touted Piaggio’s 140-year history, its importance in the Italian defense industry with MRO services, and its aircraft and engine technologies.

At the same time, the acquisition will bolster Turkey’s aviation industry, according to Baykar. The company was among the top 10 exporters in Turkey in 2023 with $1.8 billion in exports, it said, claiming a 60% share of the global UAV market. Courtesy of AIN.