Turkish drone producer Baykar has acquired Italy’s Piaggio Aerospace, underscoring its international expansion plans. Italy’s industry ministry confirmed the deal on Friday, marking a new chapter for Piaggio after years of uncertainty. The state had been running Piaggio since 2018, when it went into receivership with mounting financial troubles.
Founded in 1884, Piaggio is one of the oldest aviation companies and has a long history of innovation in aircraft. The company is best known for the P.180 business turboprop, a distinctive twin-engine aircraft with forward-swept wings. Recently Piaggio has also done helicopter maintenance work for the Italian army.
Baykar over other bidders
The Italian industry ministry said in a statement it had chosen Baykar over two other bidders. The amount of the offer was not disclosed, but it was said to be “the most suitable to protect the interests of Piaggio Aerospace’s workers and creditors” and to “revive the group’s industrial future.” “This agreement allows the company to be relaunched with a clear and ambitious industrial vision,” declared the minister of Industry Adolfo Urso.
He said, “We are giving Piaggio Aerospace a future after six years, which is vital for our country.” The acquisition adds an Italian dimension to Baykar, which has drawn attention in the UAV sector since its TB2 drone reportedly proved effective for the Ukrainian military following Russia’s 2022 invasion.
“We will aim to preserve the historic identity of Piaggio, increase its production capacity and contribute to job growth in Italy by combining innovation with respect for its heritage,” Baykar CEO Haluk Bayraktar said in a message on X.
Conclusion
The Turkish buyer’s choice of an Italian aerospace firm means a big change in Europe’s aerospace balance. Baykar has committed to safeguarding Italian jobs, alleviating fears of local employment and industrial continuity. Italy has always been strong in aviation, so this sale is a startling indication of change in the sector.
The deal is a testament to Baykar’s rapid rise as a global leader in the production and export of advanced drones. For Piaggio, the sale is the end of the company after a failed, ambitious unmanned project that nearly destroyed it.
Mubadala Development Company, based in Abu Dhabi, acquired Piaggio in 2014 and planned to develop an unmanned version of the P.180 for the UAE. But the UAE was insisting on a first purchase by Italy, and Italy agreed. Piaggio went into receivership in 2018 after the UAE cancelled a planned order when Italy postponed its own.
References
- Reuters—Baykar buys Italy’s Piaggio Aerospace
🔗 https://shorturl.at/boAK5 - Defense News—Italy sells Piaggio Aerospace to Baykar
🔗 https://shorturl.at/hxEZ2 - Türkiye Today – Baykar’s acquisition of Piaggio: A strategic leap
🔗 https://shorturl.at/fptM3 - Aviation International News – Baykar promises growth after Piaggio deal
🔗 https://shorturl.at/dgzR2
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