Baykar pledges to revitalize Piaggio Aerospace as takeover finalized in Italy

Turkish aerospace developer Baykar Technologies has pledged to revitalize Piaggio Aerospace during a signing ceremony confirming its takeover of the Italian executive jet manufacturer.  

The two sides met in Italy on June 30, 2025, to complete Baykar’s acquisition of Piaggio Aero Industries and Piaggio Aviation, which operate under the umbrella group Piaggio Aerospace. 

Government-appointed extraordinary commissioners were given responsibility to find a buyer for the 140-year-old aviation firm, with Baykar selected as the new owner in December 2024.  

Commenting on the agreement, Minister Adolfo Urso said that it marked a “strategic milestone in the relaunch of one of Italy’s historical aerospace brands”. 

Under the agreement, Piaggio’s facilities will serve as a strategic European hub for producing both the P.180 Avanti Evo and Baykar’s Unmanned combat aerial vehicles (UCAVs). 

Piaggio Aerospace’in, dünyanın en büyük S/İHA üreticisi BAYKAR ailesine katıldığını gururla duyururuz! Gelecek göklerde! We’re proud to announce: Piaggio Aerospace has joined BAYKAR, the world’s largest UAV company! The future takes flight! pic.twitter.com/pvho5ss2kM— Piaggio Aerospace (@PiaggioA) June 30, 2025 Production of the AKINCIs and TB2s have been designated for Piaggio Aerospace’s facilities to support future market demand.   

Baykar has also pledged to maintain current employment levels at the Villanova d’Albenga and Genoa sites, with plans to expand the workforce in line with the growth of production activities. 

Haluk Bayraktar, CEO of Baykar, said: “Our goal is to revitalize Piaggio Aerospace with a bold industrial vision that builds on its legacy while unlocking its full potential for the future. We deeply respect the talented and hardworking people who have kept this company going through challenging times, and we are committed to working with them to create new opportunities, drive innovation, and ensure a prosperous future.”  

The extraordinary commissioners described the transaction as “a historic moment for the revival of one of the oldest names in Italian aviation”. 

They noted that the transition concludes a process during which the company remained fully operational, without resorting to bank financing or government support. 

Baykar TechnologiesKey objectives of the development plan include the relaunch of the P.180 Avanti EVO aircraft.   

Selçuk Bayraktar, Chairman and CTO of Baykar, said: “Piaggio Aerospace represents more than a century of engineering excellence. We see this acquisition not just as a business decision, but as an opportunity to build on that legacy and bring new life to Italian aviation design and manufacturing. We are deeply committed to preserving the unique identity of Piaggio Aerospace while infusing it with a spirit of innovation, safety, and performance to meet the demands of today’s global civil aviation market.”  

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