Turkey's Baykar Acquires Italian Aviation Firm Piaggio Aerospace, Signaling Ambitious Expansion

Turkish drone manufacturer Baykar has made a significant move by acquiring Italy’s Piaggio Aerospace, signaling Baykar’s growing global ambitions while offering a lifeline to the troubled Italian aircraft producer. The deal, announced by Italy’s industry ministry on Friday, comes after six years of Italian state management following Piaggio’s receivership in 2018.

Founded in 1884, Piaggio Aerospace is one of the world’s oldest aviation firms, renowned for its P.180 business turboprop aircraft. The company has also been involved in maintenance work for the Italian army’s helicopters in recent years. The acquisition by Baykar, which was selected over two other potential buyers, aims to secure the interests of Piaggio’s employees and creditors while revitalizing the company’s industrial prospects. While the financial details of the deal were not disclosed, the Italian industry ministry highlighted Baykar’s vision for relaunching the company as key to the decision.

Industry Minister Adolfo Urso emphasized that the acquisition would help ensure Piaggio Aerospace’s future, calling it a “strategic asset” for Italy. He also praised Baykar’s vision for the company, describing it as “clear and ambitious.”

For Baykar, this acquisition marks a major step in expanding its influence in the global aerospace sector. The Turkish company has gained international prominence with its TB2 drones, which have been used effectively by Ukraine during the ongoing war with Russia. The acquisition of Piaggio also establishes Baykar’s presence in Italy, a country with a long-standing history in aviation.

Baykar CEO Haluk Bayraktar expressed his commitment to maintaining Piaggio’s historic identity while boosting its productive capacity and supporting job growth in Italy. He emphasized that the company would unite innovation with respect for Piaggio’s roots, preserving its legacy while driving forward its industrial future.

This acquisition represents a remarkable turnaround, given Italy’s traditionally strong position in the aviation industry. The deal also reflects Baykar’s success in drone manufacturing, which contrasts with the challenges Piaggio faced due to its failed unmanned project. Piaggio’s previous attempt to create an unmanned version of the P.180 for the UAE was a key factor in its financial difficulties, ultimately leading to its receivership in 2018 after the UAE canceled its purchase order.

With this acquisition, Baykar not only secures a prominent Italian aviation firm but also strengthens its global presence in the aerospace industry, with plans to reinvigorate Piaggio Aerospace’s operations and ensure a prosperous future for its workforce.