Turkish defence giant Baykar takes ownership of Italy's Piaggio Aerospace

Baykar, a leading Turkish aerospace company, has successfully acquired Piaggio Aerospace, the renowned Italian aviation giant.

Italy's Ministry of Enterprise and Production has officially approved the sale, allowing Baykar to take ownership of the historic aviation company, Caliber.Az reports via Turkish media.

Baykar, recognized as the world's largest manufacturer of strike unmanned aerial vehicles (UAVs), emerged as the top bidder in a competitive tender process to acquire Piaggio Aerospace, an iconic Italian company founded in 1884.

The Turkish firm surpassed multiple international competitors, with Baykar conducting a thorough financial evaluation in partnership with Pragma Consultancy during the bidding process.

Piaggio Aerospace is famous for producing the P.180 Avanti business jet and high-performance aircraft engines, earning the nickname "Ferrari of the skies" within the aviation industry.

 The company is also a key player in Italy's defence sector, offering maintenance, repair, and overhaul (MRO) services. With over 140 years of history, Piaggio has played a significant role in advancing Italy’s technological capabilities.

Italy's Minister of Industry and Production, Adolfo Urso, highlighted that the company’s relaunch is driven by a strong and ambitious industrial vision. "After six years of waiting, we are offering the future of Piaggio Aerospace. This company is a strategic asset for our country. While it is reborn with a new perspective, institutional structures and workforce will be preserved," Urso emphasized.

By Tamilla Hasanova