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."
The UK Health Security Agency (UKHSA) said on Wednesday that it has identified five new cases of meningococcal disease in Kent, bringing the total ...
Iran’s intelligence chief, Esmail Khatib, has been killed in an Israeli missile strike carried out overnight, according to Iranian state medi...
Georgia is in national mourning following the death of Ilia II, the Catholicos-Patriarch of All Georgia, who has died at the age of 93. His passing...
As the U.S.–Israel war with Iran enters its third week, disruption is spreading well beyond the battlefield. Analysts say the conflict is alr...
South Korean pop sensation BTS, one of the world’s biggest music acts known for their record-breaking albums, global tours and d...
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.
Morocco has been declared winners of the 2025 Africa Cup of Nations and Senegal stripped of their title by the Confederation of African Football (CAF).
President Donald Trump said NATO is making a “very foolish mistake” by refusing to help the U.S. as Israel Katz claimed Ali Larijani was killed in Israeli strikes.
Iranian President Pezeshkian has confirmed the killing of intelligence minister Esmail Khatib calling it a "cowardly assassination", following reports that Israel carried out an overnight strike.
Kouri Richins, a U.S. woman who penned a children’s book about bereavement after the death of her husband has been found guilty of killing him.
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.
A Chinese man, Zhang Kequn and his Kenyan associate, Charles Mwangi, have been charged by a court in Kenya for alleged involvement in illegal dealings of wildlife species.
Six people died on Wednesday, following fresh Israeli offensive against suspected Hezbollah infrastructure in Central Beirut on Wednesday.
Employees of Voice of America (VOA) who had spent nearly a year on paid administrative leave may soon return to work after U.S. District Judge Royce C. Lamberth ruled that efforts to scale down the broadcaster were unlawful.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 18th of March, covering the latest developments you need to know.
Russia and Iran are “brothers in hatred” Ukrainian President Volodymyr Zelenskyy told the UK Parliament following a meeting with British Prime Minister Keir Starmer on Tuesday (17 March).
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment