In a landmark move for both the Turkish and European aerospace industries, Baykar, Türkiye’s leading defense and aviation company, has officially completed the acquisition of Piaggio Aerospace, one of Italy’s most storied aviation manufacturers with a legacy spanning over 140 years.

The process, launched after Italy’s Ministry of Enterprises and “Made in Italy” approved the transaction on December 27, 2024, concluded with the final authorization of Italy’s Prime Minister’s Office under the nation’s “Golden Power” regulations. The signing ceremony in Italy was attended by Baykar General Manager Haluk Bayraktar, Minister Adolfo Urso, and Piaggio Aerospace’s government-appointed commissioners.

The transfer marks the beginning of a new chapter for Piaggio Aerospace — one that blends the company’s historical craftsmanship with Baykar’s cutting-edge technological innovation. “Our goal is to revitalize Piaggio Aerospace with a bold, forward-looking vision rooted in its proud heritage,” said Haluk Bayraktar, emphasizing respect for the company’s skilled workforce and commitment to creating “new opportunities for innovation and growth.”

Baykar Chairman and CTO Selçuk Bayraktar described the acquisition as “an honor and a responsibility,” noting that Piaggio represents “Italy’s excellence in innovation and engineering.” He outlined Baykar’s strategic goals: increasing production of the P.180 Avanti EVO, transforming Piaggio’s facilities into a European center of excellence for aircraft and engine maintenance, and deepening industrial cooperation between Türkiye and Italy.

“This is more than a business decision — it’s a commitment to breathe new life into Italian aviation design and production,” Selçuk Bayraktar said. “We will preserve Piaggio’s unique identity while enhancing it with innovation, safety, and performance to meet the demands of global markets.”

As part of the industrial roadmap, Baykar plans to integrate Piaggio’s manufacturing infrastructure into its global production ecosystem, enabling the facility to support Bayraktar TB2 and AKINCI UAV production while revitalizing Piaggio’s legacy aircraft for international markets. The acquisition was completed without state aid or bank loans, underscoring Baykar’s financial independence and robust growth model.

The move also aligns with Baykar’s ongoing collaboration with Italy’s Leonardo on unmanned aerial systems and broader defense-industrial cooperation between the two nations. Beyond defense, Piaggio’s return under Baykar’s leadership will contribute to high-skilled employment, technological renewal, and a strengthened European aerospace supply chain.

Globally recognized as the largest UAV manufacturer in the world, Baykar generated $1.8 billion in exports in both 2023 and 2024, ranking among Türkiye’s top 10 exporters across all sectors. The company currently has export agreements with 36 countries — 35 for the Bayraktar TB2 and 15 for the Bayraktar AKINCI — and remains the export leader of Türkiye’s defense and aerospace industry.

With Piaggio Aerospace’s acquisition, Baykar now positions itself not only as a defense technology powerhouse but also as a major industrial player in Europe’s aerospace sector, committed to innovation, sustainability, and strategic transnational cooperation.