Turkiye’s Baykar acquires Italy aviation giant Piaggio Aerospace

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 […]