Turkey’s Baykar has finalized the acquisition of Italy’s Piaggio Aerospace, a deal that aims to preserve jobs, relaunch aircraft production, and build drones in Italy. The agreement was finalized in Rome, with Italy’s Ministry of Enterprises and Made in Italy hosting the event. Baykar, led by Selçuk Bayraktar, the son-in-law of Turkish President Recep Tayyip Erdoğan, is the world’s top drone exporter. The deal follows the withdrawal of previous majority owner Mubadala, an Emirati sovereign wealth fund, and comes after years of state support to keep Piaggio operational.
The Italian government had provided key orders to sustain the company, including the upgrade of 12 P.180 aircraft to the new Avanti II+ configuration and the purchase of 15 brand-new P.180 EVO+ aircraft. The deal has been cleared by Italy’s Prime Minister’s Office under the country’s golden power rules, which screen strategic assets for national interest. Enterprise Minister Adolfo Urso hailed the move as a “strategic step for the revival of one of Italy’s historic aerospace brands.”
Baykar has committed to maintaining current employment levels at Piaggio’s facilities in Villanova d’Albenga and Genoa, and even expanding the workforce as production increases. The company aims to relaunch Piaggio Aerospace with an ambitious industrial vision, which includes revitalizing the P.180 Avanti executive twin-engine aircraft, launching domestic production of Baykar’s TB3 and Akinci drones in Italy, and building a high-level European maintenance centre!ita for aircraft engines and airframes.
In addition to the acquisition, Baykar has signed a memorandum of understanding with Italian defence giant Leonardo to establish a joint company focused on unmanned aerial systems. Baykar will contribute the platform, while Leonardo will provide mission systems, payloads, and certification. The partnership is seen as a significant development in the Italian aerospace industry, with Baykar’s CEO Haluk Bayraktar praising the resilience of Piaggio’s workforce and promising to work alongside them to create new opportunities. The deal is expected to boost Italy and Europe’s aerospace competitiveness, and marks a significant step in the revival of one of Italy’s historic aerospace brands.