Baykar Makina became the new owner of Italian Piaggio Aerospace following the approval of Italy’s Ministry of Enterprises and Made in Italy.
Italy's Ministry of Enterprises and Made in Italy have approved the sale of Piaggio Aerospace to Baykar. Baykar, the world's largest UCAV manufacturer, outbid competitors from several countries in a competitive process for the sale of Piaggio Aerospace, founded in 1884. The company collaborated with Pragma Consulting on financial valuation throughout the process.
Piaggio Aerospace is well known in the aviation industry for manufacturing the P.180 Avanti business jet and aircraft engines. The company also plays a crucial role in Italy's defence industrial ecosystem by providing maintenance, repair, and overhaul (MRO) services, and it is well-known for its contributions to Italy's technological infrastructure over its 140-year existence.
With this acquisition, Baykar intends to increase its presence in the European aviation market while protecting Piaggio's historical tradition and increasing production capacity. Baykar's future goal includes expanding Piaggio's employment chances in Italy. This strategic decision builds on Turkiye's aviation industry's global success and assures Piaggio's historical character is carried forward through this partnership.
Baykar ranked among Turkiye's top ten exporters across all sectors in 2023, totalling $1.8 billion. According to a survey by the US-based think tank CNAS (Centre for a New American Security), Turkiye controls 65 per cent of the global UAV export industry, with Baykar alone accounting for roughly 60 per cent —three times the size of its nearest US competitor. In recent years, exports have accounted for more than 90 per cent of Baykar's earnings, with Bayraktar TB2 and Bayraktar AKINCI UCAVs delivered to 35 nations in total.
