Italy’s aviation giant, Piaggio Aerospace, has been sold to Türkiye’s aviation company, Baykar. The sale will allow Baykar to expand from being a major producer of unmanned combat aerial vehicles (UCAV) to producing commercial or other aviation products.
“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 Dec. 27 press release following the approval of the sale by Italy’s Ministry of Enterprises and Made in Piaggio Aerospace produces the P.180 Avanti business jets, also known as Ferrari of the skies, and aircraft engines. It is also an integral part of Italy’s defense industry.
