Baykar finalises takeover of Italy’s Piaggio Aerospace

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.

The finalisation of the deal, announced on 1 July by Italy’s Ministry of Enterprises and Made in Italy, marks the full transfer of Piaggio Aero Industries and Piaggio Aviation—both under extraordinary administration—to Baykar.

Italian Minister Adolfo Urso welcomed the takeover as “a strategic step for the relaunch of one of the historic brands of the Italian aeronautical industry” and noted its impact on wider defence cooperation with Türkiye, including joint projects with Italian aerospace giant Leonardo.

Baykar CEO Haluk Bayraktar said the company aims to revitalise Piaggio with a future-oriented industrial strategy that also respects its legacy. “We are ready to work alongside Piaggio’s dedicated team to create new opportunities, promote innovation and build a sustainable future,” he said.

Chairman and CTO Selçuk Bayraktar described the acquisition as “an opportunity to give new impetus to Italian aeronautics” and confirmed plans to boost production of the P.180 Avanti EVO jet while turning Piaggio’s facilities into a European hub for Baykar’s flagship combat drones, including the Bayraktar TB2 and Akinci UCAVs.

Baykar intends to preserve Piaggio’s brand identity while expanding its capabilities to meet growing demand in both the civil and military aviation sectors. A core objective of the company’s development plan is to reintroduce the P.180 to global markets with updated technologies and to build a European centre of excellence for aircraft and engine maintenance.

The move comes as Baykar continues to strengthen its international footprint. The company, which began UAV R&D in 2003, generated 83% of its revenue from exports and posted $1.8 billion in export sales in 2023. That figure was matched in 2024, with 90% of revenue coming from international markets.

Baykar has repeatedly ranked among Türkiye’s top 10 exporters across all sectors and has led the country’s defence and aerospace exports since 2021, according to the Turkish Exporters’ Assembly and the Secretariat of Defence Industries.

The firm accounts for a quarter of Türkiye’s total defence and aerospace exports and remains the global leader in UCAV exports, with 35 countries acquiring the Bayraktar TB2 and 15 countries signing deals for the Akinci.

First announced in December 2024, the Piaggio deal complements Baykar’s broader expansion in Italy. The company recently signed cooperation agreements with Leonardo and co-founded a joint venture, LBA Systems, to develop next-generation unmanned systems for European markets.

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