Turkish drone manufacturer Baykar has finalized its acquisition of Italian aerospace company Piaggio Aerospace, according to an official statement from Italy’s Ministry of Enterprises on Monday. With this move, Ankara secures a European business platform to participate in the €150 billion SAFE program.

“The process confirming the definitive transfer of Piaggio Aero Industries and Piaggio Aviation—the two companies operating under extraordinary administration under the Piaggio Aerospace brand—to Turkey’s Baykar was completed today at the Ministry of Enterprises and Made in Italy,” the statement said.

According to Daily Sabah, Italy’s Minister of Enterprises, Adolfo Urso, called the deal a “strategic step” for the revival of one of the most historic names in Italian aerospace. He hailed Baykar as a strong international investor whose industrial plan opens new prospects for the unmanned aircraft market, boosting the competitiveness of Italy and Europe’s aerospace sector.

“This agreement is already having a significant impact on broader cooperation between Baykar and Leonardo,” Urso added, “allowing Italy to take a leading role in the European market. A bright future awaits a company with a glorious past—an iconic name of Made in Italy.”

Baykar’s Vision: Reviving an Icon

Baykar CEO Haluk Bayraktar said the goal is to relaunch Piaggio Aerospace through an ambitious industrial strategy that will honor its legacy while unlocking its full potential for the future.

Baykar’s CTO and Chairman, Selçuk Bayraktar, added:

“It is a great honor for us to take on responsibility for the future of Piaggio Aerospace—an emblem of Italian innovation and excellence. We aim to revitalize this historic brand by investing in its civil aviation expertise, increasing production of the P.180 Avanti EVO, and strengthening its role as a European hub for aircraft and engine maintenance.”

He stressed that Baykar is committed to long-term growth by strengthening human capital and industrial cooperation between Turkey and Italy, leveraging Piaggio’s century-long heritage of engineering excellence.

“We view this acquisition not as a simple business deal, but as an opportunity to reinforce Piaggio Aerospace’s legacy and give new impetus to Italy’s design and manufacturing capabilities in the aerospace sector,” he said.

Baykar also pledged to preserve Piaggio’s distinct identity while infusing it with a renewed spirit of excellence, innovation, safety, and performance aligned with global aviation market demands.

Strategic Goals: Civil Aviation & Drones

According to the development plan, a key objective is the reintroduction of the legendary P.180 Avanti EVO into the global market with upgraded technologies. Plans also include meeting international demand for Bayraktar Akıncı and Bayraktar TB2 UAVs via production at Piaggio’s facilities, and the creation of a European center of excellence for aircraft and engine maintenance.

The overarching aim is to preserve Piaggio’s legacy while strengthening its strategic role in the European industrial ecosystem.

Baykar’s International Rise

Since launching UAV R&D in 2003, Baykar has generated 83% of its revenue from exports, reaching $1.8 billion in 2023 alone. The company ranked among the top 10 exporters across all sectors in Turkey. In 2024, Baykar again achieved $1.8 billion in export revenues, with 90% coming from foreign markets.

From 2023 to 2025, Baykar received multiple Champions of Export awards and was recognized as the top defense and aerospace exporter from 2021 to 2024, according to Turkey’s Presidency of Defense Industries (SSB) and the Turkish Exporters Assembly (TIM).

In 2023, Baykar accounted for one-third of Turkey’s total defense exports, and one-fourth in 2024.

The company has signed export agreements for the Bayraktar TB2 with 35 countries and for the Bayraktar Akıncı with 15 countries.

The acquisition of Piaggio Aerospace was initially announced in December 2023.