Baykar Acquires 140-Year-Old Piaggio Aerospace, World's Largest UCAV Producer, Expanding Global Footprint

Dec 27, 2024, 12:04 PM

Turkish aerospace company Baykar has acquired Italian aviation firm Piaggio Aerospace, following approval from Italy’s Ministry of Enterprises and Made in Italy. This acquisition marks a significant expansion for Baykar, known as the world's largest producer of unmanned combat aerial vehicles (UCAVs). The deal was finalized after Baykar outbid several international competitors in a competitive bidding process. Piaggio Aerospace, established in 1884, is recognized for its P.180 Avanti business jets, which are often referred to as the 'Ferrari of the skies.' The acquisition is expected to enhance Baykar's production capabilities and strengthen its position in the European aviation market. Baykar's CEO, Haluk Bayraktar, emphasized the strategic importance of this move, stating that it will help elevate the Turkish aviation industry's profile in Europe. The financial details of the transaction have not been disclosed.