Italy has approved Baykar's acquisition of Piaggio Aerospace, a move to strengthen Turkish aviation in Europe, expanding production capacity and preserving a historic brand.
Italy has approved the acquisition of Italian aircraft maker Piaggio Aerospace, by Baykar, Turkish producer of unmanned combat aerial vehicle (UCAV).
Established in 1884, Piaggio Aerospace – unconnected to Vespa scooter maker Piaggio – had been under government-controlled special administration since filing for protection from creditors in 2018. The company specializes in designing and constructing aircraft and aeronautical engines for both military and civil applications.
Without disclosing financial details, the ministry stated that Baykar's offer among two others is considered “the most suitable to guarantee the interests of the employees and creditors of Piaggio Aerospace and to relaunch the Group's industrial prospect.”
"The relaunch of the company is guaranteed, with a clear and ambitious industrial vision," - said the Minister of Enterprise and Made in Italy, Adolfo Urso. “After six years of waiting, we are giving a future to Piaggio Aerospace that is a strategic asset of our country.”
Baykar committed to maintain and expand the production of aircraft and related technical support, training and logistics activities, as well as engine maintenance and engine component manufacturing, the statement added.
Baykar has turned into the world's largest drone company. Türkiye controls “65% of the global drone market,… and almost 60% of this market belongs to Baykar,” – said Anadolu Agency referring to Selcuk Bayraktar, the Chairman and Chief Technology Officer of Turkish drone maker.” Baykar's revenues were $2 billion last year, up from $1.4 the previous year, with 90% from foreign markets. The company accounts for around a third of Turkey's total defence and aerospace exports.
"As Baykar, we are strengthening the Turkish aviation industry’s position in Europe by acquiring Piaggio Aerospace, a company with a rich 140-year legacy," - Haluk Bayraktar, the company's CEO, wrote on platform X.
"With this strategic move, we are not only enhancing our production capacity but also taking on the responsibility of carrying a historic brand into the future."
President Trump called on countries to assist in reopening the Strait of Hormuz, while Starmer said the UK is working with allies to restore naviga...
Senior officials from the United States and China met in Paris this week for a new round of trade talks, as the world’s two largest economies...
Court documents released on Monday (16 March) revealed that the British Broadcasting Corporation (BBC) ...
Governments around the world are responding cautiously to U.S. President Donald Trump’s call for countries to send naval ships to the Strait ...
Polish fighter jets intercepted a Russian reconnaissance aircraft over the Baltic Sea on Friday (13 March), according to Poland’s Operational...
Türkiye’s leading drone manufacturer has unveiled its newest long-range kamikaze drone, capable of operating alongside other drones without human intervention. The K2 Kamikaze UAV, developed by Baykar, can carry out missions up to 2,000km from its launch point.
Turkish defence giant Baykar showcased its Bayraktar TB2, Akinci, TB3, and Kizilelma models at the BAMEX’25 expo in Bamako, Mali. The company provides advanced national unmanned aerial vehicles (UAVs) to African countries, contributing to security and stability across the continent.
Türkiye’s fast-growing defence industry is gaining global recognition. European countries are rearming and demand for reliable suppliers rising.
Türkiye’s leading drone manufacturer Baykar has completed its acquisition of historic Italian aviation firm Piaggio Aerospace, paving the way for a European production base for its unmanned aerial vehicles and civil jets.
Iran says it is open to talks with countries seeking safe passage through the Strait of Hormuz - disrupted by recent attacks - as Israel continues to launch wide‑scale strikes on Iranian infrastructure in the west. This live report tracks the latest developments.
President Trump called on countries to assist in reopening the Strait of Hormuz, while Starmer said the UK is working with allies to restore navigation and stabilise oil markets. It comes as a strike near Iraq’s western border killed several Hashed al-Shaabi fighters, raising regional tensions.
The other evening, I was fuelling my car at a petrol station in Kenya’s capital. It was one of those small moments most motorists barely notice. The attendant filled the tank, I glanced at the pump price, paid, and drove off.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 15 March, covering the latest developments you need to know.
Top U.S. and Chinese economic officials launched a new round of talks in Paris on Sunday (15 March) to resolve issues in their trade truce. The discussions aim to smooth the way for U.S. President Donald Trump’s visit to Beijing to meet Chinese President Xi Jinping at the end of March.
Senior officials from the United States and China met in Paris this week for a new round of trade talks, as the world’s two largest economies attempt to manage their economic rivalry and avoid further tensions.
Court documents released on Monday (16 March) revealed that the British Broadcasting Corporation (BBC) has asked a U.S. judge to dismiss President Donald Trump's $10 billion defamation suit over a 2024 documentary, arguing his re-election proves the edited 2021 speech did not harm his reputation.
Polish fighter jets intercepted a Russian reconnaissance aircraft over the Baltic Sea on Friday (13 March), according to Poland’s Operational Command.
Russia has imposed a fine of 35 million roubles (around $432,366) on the messaging platform Telegram for failing to remove content deemed illegal by the authorities, according to the Interfax news agency.
Madagascar's president, Michael Randrianirina announced the appointment of anti-corruption chief Mamitiana Rajaonarison as prime minister, six days after dismissing the previous premier along with the entire cabinet.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment