Signing Ceremony Completes Turkish Aerospace Firm’s Acquisition

Turkish aerospace firm Baykar Technologies said it has vowed to revitalize Piaggio Aerospace during the signing ceremony that completed its takeover of the Italian executive aircraft manufacturer after the transaction proceedings began in December 2024.

The ceremony took place on June 30, 2025, at the Ministry of Enterprise in Italy. The Ministry has been managing Piaggio since it was placed in receivership, and it selected and approved Baykar to become the new owner in December 2024 out of the total 18 companies that expressed interest in the company.

Baykar also revealed its plan for the Piaggio facility in Italy to be assigned to produce its Akinci and TB2 military drone platforms. The Italian factory gives the Turkish firm a footing in Europe as it has furnished its drones for countries around the world.

Under the agreement, Piaggio’s facilities will be a strategic European hub for production of the P.180 Avanti Evo as well as Baykar’s unmanned aircraft.

Baykar said in a statement, “The production of the AKINCI and TB2 UAVs – two of the most advanced Unmanned Aerial Vehicles currently in service – has been designated for Piaggio Aerospace’s facilities to support future market demand.”

The new owner also said, “Under the terms of the agreement, Baykar has 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.” 

FMI:  www.piaggioaerospace.it/