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Baykar Acquires Italy's 140-Year-Old Piaggio Aerospace, Maker of 'Ferrari of the Skies'

Dec 27, 2024, 11:22 AM

Baykar, a Turkish drone manufacturer and the world's largest UCAV producer, has acquired Italy's historic aviation company Piaggio Aerospace after outbidding international rivals. The acquisition was approved by Italy's Ministry of Enterprises and Made in Italy. Piaggio Aerospace, founded in 1884 and known for its P.180 Avanti business jets—dubbed the 'Ferrari of the skies'—also produces aircraft engines and the P.1HH HammerHead UAV, and provides maintenance, repair, and overhaul services. The company plays a strategic role in Italy's defense industry. Baykar's General Manager Haluk Bayraktar expressed pride in integrating the 140-year-old company, aiming to strengthen production capacity, preserve Piaggio's historical identity, and carry the historic brand into the future. This move signifies Baykar's expansion into the European aviation market.