Baykar, World's Largest UCAV Producer, Acquires Italy's 140-Year-Old Piaggio Aerospace

Dec 27, 2024, 11:15 AM

Baykar, the world's largest unmanned combat aerial vehicle (UCAV) producer, has acquired Italy's 140-year-old Piaggio Aerospace, following approval from the Italian Ministry of Enterprises and Made in Italy. Founded in 1884, Piaggio Aerospace is known for its P.180 Avanti business jets, dubbed the 'Ferrari of the skies', and plays a strategic role in Italy's defense industry. Baykar outbid international rivals to secure the acquisition, which will enhance its production capacity and expand its presence in Europe. Haluk Bayraktar, CEO of Baykar, stated that by incorporating Piaggio Aerospace's 140-year-old heritage, they are bringing the strength of the Turkish aviation industry to Europe and undertaking the responsibility of carrying a historical brand into the future.