The Italian Ministry of Enterprises and Made in Italy approved the sale of aviation company Piaggio Aerospace to Baykar.
The Italian Ministry of Enterprises and Made in Italy approved the sale of the country’s aviation giant Piaggio Aerospace to Baykar. Baykar, the world’s largest UAV company, was the company that submitted the best bid in the tender held to purchase Piaggio Aerospace, Italy’s well-established aviation company founded in 1884. Baykar won the tender, which was a contentious process, by leaving behind its competitors who bid from different countries. Baykar carried out the financial evaluation studies with Pragma Consultancy during the tender process.
140 YEARS OF DEV FIRM
Piaggio Aerospace, known for its production of P.180 Avanti business jets and aircraft engines, known as the “Ferrasi 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.
“WE OFFER A FUTURE TO PİAGGİO AEROSPACE”
Noting that the relaunch of the company was secured by a clear and ambitious industrial vision, Italian Minister Adolfo Urso commented: “After six years of waiting, we are offering a future to Piaggio Aerospace. This company, which is a strategic asset for our country, is relaunching with a long-term production perspective.” “While it is being revitalized, institutional structures and workforce are being protected.”
PRODUCTION CAPACITY WILL BE STRENGTHENED
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. While this strategic step by Baykar adds a new one to the global successes of the Turkish aviation industry, Piaggio’s historical identity will also be carried into the future with this agreement.
WORLD LEADER
By exporting 1.8 billion dollars in 2023, Baykar ranked among the top 10 companies with the most exports 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 3 times larger than its closest American rival, has approximately 60 percent of this market alone. Obtaining more than 90% of its revenues from exports in recent years, Baykar exports Bayraktar TB2 SİHA and Bayraktar AKINCI TİHA to 35 countries in total.
MINISTER KACIR: GOOD LUCKMinister of Industry and Technology Mehmet Fatih Kacır made the following statements regarding the issue in his statement on his social media account:
The acquisition of the 140-year-old Italian aviation company Piaggio Aerospace by Baykar, our national pride, is also an indication of the level of success that Turkish aviation and Baykar have achieved in the global league. This cooperation will also serve to strengthen the friendly ties and economic relations between Türkiye and Italy. Congratulations!
Source: www.star.com.tr
