December 27, 2024
The SAHA EXPO 2024 International Defense and Aerospace Exhibition continues at Istanbul Fair Center, Turkiye on October 23, 2024. [Serhat Çağdaş – Anadolu Agency]
Italy has approved the sale of Piaggio Aerospace, the country’s aviation giant, to the Turkish unmanned combat aerial vehicle (UCAV) producer Baykar.
“The world’s largest UCAV company, Baykar outbid rivals from multiple countries in a competitive tender for the sale of Piaggio Aerospace, which was established in 1884,” Baykar said in a press release today.
Piaggio Aerospace is best known in the aviation industry for producing P.180 Avanti business jets, also known as the Ferrari of the skies, and aircraft engines.
The company also plays a strategic role in Italy’s defence industry thanks to its maintenance, repair and overhaul services.
Mehmet Fatih Kacir, the Turkish industry and technology minister, called the acquisition “an indicator of the level of success Turkish aviation and Baykar have achieved on the global stage.”
In 2023, Baykar ranked among the top 10 exporters in Turkiye across all sectors, racking up $1.8 billion in exports.
According to a report by the US-based think tank Centre for a New American Security, Turkiye dominates 65 per cent of the global unmanned aerial vehicle (UAV) export market, with Baykar alone holding nearly 60 per cent of the market – three times the size of its closest US competitor.
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