Turkish takeover of Italian aerospace company
Piaggio Aerospace has signed a preliminary contract to transfer Piaggio Aero Industries and Piaggio Aviation to Turkish UAV / UCAV leader Baykar. Italy’s ministry of enterprises and ‘made in Italy’ approved the transaction late in December 2024. The sale is expected to close in spring 2025, pending final approval.
Piaggio Aerospace, founded in 1884, is known for the P.180 Avanti. The firm plays a key role in Italy’s defence sector. Minister Adolfo Urso said that “we’re securing Piaggio’s future with a long-term vision.”
Baykar, the world’s largest UCAV producer, dominates 60% of the global UAV market. In 2023 it exported USD 1.8 billion worth of units, operating in 35 countries. The acquisition expands Baykar’s European presence and preserves Piaggio’s legacy.
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