Türkiye's leading drone producer Baykar completes acquisition of 140-year old Italian aviation firm

- Piaggio Aerospace's facilities to become strategic production base in Europe for P.180 Avanti EVO jets and UCAVs developed by Baykar

Turkish drone maker Baykar's acquisition of Italian aviation firm Piaggio Aerospace is now finalized, according to a statement Monday by Italy's Ministry of Enterprises and Made in Italy.

"The closing of the operation that sanctions the definitive transfer of the corporate complexes of Piaggio Aero Industries and Piaggio Aviation – the two companies in extraordinary administration that operate under the Piaggio Aerospace brand – to the Turkish company Baykar was finalized today at the Ministry of Enterprises and Made in Italy," the statement said.

The Minister of Enterprises and Made in Italy, Adolfo Urso, said the acquisition marks "a strategic step for the relaunch of one of the historic brands of the Italian aeronautical industry with a major international investor, whose industrial plan opens up even more important market prospects in the unmanned aircraft sector, thus strengthening the competitiveness of the Italian and European aerospace industry.”

"This operation has already had a further, significant impact on the broader partnership between Baykar and Leonardo, which will allow our country to be a leading player in the European market. A great future for a company that has had a glorious past, an icon of Made in Italy," Urso added.

Baykar CEO Haluk Bayraktar said their goal is to relaunch Piaggio Aerospace with an ambitious industrial vision capable of enhancing its legacy and, at the same time, fully developing its potential for the future.

"We have great respect for the people who, with competence and determination, have kept the company alive even in the most difficult moments, and we are ready to work alongside them to create new opportunities, promote innovation and build a solid and sustainable future," he said.

Baykar Chairman and CTO Selcuk Bayraktar said “it is a great honor for us to take responsibility for the future of Piaggio Aerospace – a symbol of Italian innovation and excellence. Our goal is to revitalize this historic brand by investing in its civil aviation expertise, increasing the production of the P.180 Avanti EVO and strengthening its role as a center of excellence for aircraft and engine maintenance in Europe."

"We aim for long-term growth, enhancing human resources and strengthening the industrial partnership between Türkiye and Italy, leveraging Piaggio Aerospace's history and engineering talent. The company has over a century of engineering excellence. We see this acquisition not as a simple business transaction, but as an opportunity to enhance the legacy of Piaggio Aerospace and give new impetus to the design and manufacturing capabilities of the Italian aeronautics industry," Bayraktar said.

He added that they are deeply committed to preserving the unique identity of Piaggio Aerospace while infusing it with a spirit of excellence that is unique in the world of aviation, of innovation, safety and performance in line with the current needs of the global civil aviation market.

The main objectives of the development plan include the re-introduction of the legendary P.180 Avanti EVO aircraft to the global market with renewed technological capabilities. It is also aimed at meeting global market demand for Baykar's Bayraktar Akinci and Bayraktar TB2 unmanned combat aerial vehicles (UCAVs) through production at Piaggio facilities and the establishment of a European center of excellence in aircraft and engine maintenance. The goal is to preserve Piaggio Aerospace's historical heritage and further strengthen the company's strategic role in the European industrial ecosystem.

Since the beginning of the UAV R&D process in 2003, Baykar has generated 83% of its revenue from exports. It achieved $1.8 billion in export sales in 2023 and ranked among the top 10 companies with the highest exports in all sectors in Türkiye.

The largest company in the global unmanned aerial vehicle export market, it continued its success on a global scale in 2024 and realized exports worth $1.8 billion, generating 90% of its revenue from exports.

In 2023 and 2024, Baykar received the Champions of Export Award by ranking among the top 10 companies with the highest exports in all sectors in Türkiye and became the export leader of the defense and aerospace sector in 2021, 2022, 2023 and 2024, according to data from the Secretariat of Defense Industries and the Turkish Exporters' Assembly (TIM).

Baykar, which alone accounted for one-third of the sector's exports in 2023, also accounted for one-fourth of the total exports of the defense and aerospace sector in 2024, making Türkiye the leader in the global UCAV export market.

The world's largest unmanned aerial vehicle company, it has signed export agreements with 35 countries for the Bayraktar TB2 UCAV and 15 countries so far for the Bayraktar Akinci UCAV.

The acquisition deal for Piaggio Aerospace was first announced last December.

Baykar has been expanding its reach in Italy in recent months. The company also signed cooperation deals with Leonardo, one of Europe's largest aerospace and defense firms.

The two companies also decided to establish a joint venture named LBA Systems to produce "next generation unmanned systems."