Bought the ‘Ferrari of the Sky’ – Bigpara Economy News

AA

Created Date: December 28, 2024 04:00

Baykar submitted the best offer in the tender held to purchase Piaggio Aerospace, known as the ‘Ferrari of the sky’ in the aviation industry. According to the statement made by Baykar, an armed unmanned aerial vehicle (UAV) company, the Italian Ministry of Enterprises and Made in Italy approved the sale of the company to Baykar. With this acquisition, Baykar announced that it will strengthen its production capacity while increasing its influence in the European aviation market.

Çwith sourdough Baykar, which won the tender, which witnessed a long process, by leaving its competitors bidding from different countries behind, will become the new owner of the Italian aviation giant Piaggio Aerospace.

According to the statement made by Baykar, an armed unmanned aerial vehicle (UAV) company, the Italian Ministry of Enterprises and Made in Italy approved the sale of the country’s aviation giant company Piaggio Aerospace to Baykar. Baykar, the company that submitted the best bid in the tender held to purchase Piaggio Aerospace, Italy’s well-established aviation company founded in 1884, won by leaving its competitors behind. It was stated that the company carried out financial evaluation studies with Pragma Consultancy during the tender process.

KNOWN FOR ITS BUSINESS JETS AND AIRCRAFT ENGINE

Piaggio Aerospace, known for its production of P.180 Avanti business jets and aircraft engines, known as the ‘Ferrari of the sky’ in the aviation industry, also has a strategic role in Italy’s defense industry ecosystem with its maintenance, repair and overhaul (MRO) services. Piaggio is known for making significant contributions to Italy’s technology infrastructure with its 140-year history.

Stating that the relaunch of the company was secured by a clear and ambitious industrial vision, Italian Minister of Enterprises and Made in Italy, Adolfo Urso, said: “After six years of waiting, Piaggio AerospaceWe offer a future to . “This company, which is a strategic asset for our country, is being revitalized with a long-term production perspective, while corporate structures and workforce are protected,” he said.

IT WILL INCREASE ITS CAPACITY

With this acquisition, Baykar will increase its influence in the European aviation market, while preserving Piaggio’s historical heritage and strengthening its production capacity. Along with Baykar’s future vision, it is also aimed to increase the employment provided by the company in Italy. With this agreement, Piaggio’s historical identity will be carried into the future.

KACIR: IT WILL ALSO STRENGTHEN ECONOMIC RELATIONS WITH ITALY

Minister of INDUSTRY and Technology, Mehmet Fatih Kacır, made the following assessment regarding the purchase: “This cooperation will also serve to strengthen the friendly ties and economic relations between Turkey and Italy.”

‘IT DOMINATES THE UAV MARKET’

BAYKARBy exporting 1.8 billion dollars in 2023, it was among the top 10 companies that exported the most in all sectors in Turkey. According to the report of the US-based think tank CNAS (Center for New American Security):

• Türkiye dominates 65 percent of the world UAV export market.
• Baykar, which is stated to be 3 times larger than its closest US rival, has approximately 60 percent of this market alone.
  
• Baykar has earned more than 90 percent of its revenues from exports in recent years.
• The company operates in 35 countries in total. Bayraktar TB2 SİHA and Bayraktar AKINCI TİHA are exported.