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Turkish drone manufacturer Baykar has finalized its acquisition of Italian aviation firm Piaggio Aerospace, Italy’s Ministry of Enterprises and Made in Italy announced Monday.
The ministry confirmed in a written statement that “the closing of the operation that sanctions the definitive transfer of the corporate complexes of Piaggio Aero Industries and Piaggio Aviation … to the Turkish company Baykar was finalized today.”
Piaggio Aerospace, which had been under extraordinary administration, is best known for producing the P.180 Avanti EVO aircraft and providing aircraft and engine maintenance services.
Italian Minister of Enterprises Adolfo Urso hailed the deal as a “strategic step” for revitalizing “one of the historic brands of the Italian aeronautical industry.”
He added that the Baykar acquisition opens “important market prospects in the unmanned aircraft sector, thus strengthening the competitiveness of the Italian and European aerospace industry.”
Urso also noted that the deal has already reinforced Baykar’s broader partnership with Italian defense giant Leonardo, and will position Italy as a leader in the European unmanned aviation market.
Baykar CEO Haluk Bayraktar said the company intends to relaunch Piaggio Aerospace with a long-term industrial vision that both honors the brand’s legacy and develops its potential.
“We have great respect for the people who kept the company alive through difficult times,” he said. “We are ready to work alongside them to create new opportunities, promote innovation, and build a solid and sustainable future.”
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Baykar Chairman and Chief Technology Officer Selcuk Bayraktar said it is “a great honor” to take responsibility for the future of Piaggio Aerospace, which he called “a symbol of Italian innovation and excellence.”
He said Baykar plans to invest in the civil aviation side of the business, increase production of the P.180 Avanti EVO, and transform Piaggio’s facilities into a center of excellence for aircraft and engine maintenance in Europe.
Bayraktar emphasized that the company is committed to preserving Piaggio’s identity while “infusing it with a spirit of innovation, safety, and performance” to meet the demands of the global civil aviation market.
Baykar’s development plan includes reintroducing the P.180 Avanti EVO with upgraded technology and producing its Bayraktar Akıncı and TB2 unmanned combat aerial vehicles (UCAVs) at Piaggio’s facilities.
The company also aims to establish a European center of excellence in aviation maintenance and repair, further integrating Piaggio into Europe’s aerospace industry.
Founded in 2003, Baykar has emerged as a global leader in drone exports. The company generated $1.8 billion in export revenue in both 2023 and 2024, accounting for 90% of its total income last year.
According to Türkiye’s Secretariat of Defense Industries and the Turkish Exporters’ Assembly, Baykar has ranked as the top defense and aerospace exporter for four consecutive years. In 2023, it represented one-third of the sector’s total exports and one-fourth in 2024.
Baykar has signed export deals with 35 countries for the Bayraktar TB2 and with 15 countries for the Bayraktar Akıncı UCAV.
The Piaggio acquisition, initially announced in December 2023, reflects Baykar’s growing footprint in Italy. In recent months, the company has signed cooperation agreements with Leonardo and established a joint venture named LBA Systems to produce “next-generation unmanned systems.”
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