Baykar Completes Piaggio Aerospace Acquisition Turkish entity Baykar has fully completed the acquisition of Piaggio Aerospace -Piaggio Industries and Piaggio Aviation-. The last time we heard about Baykar in relation to the acquisition of Piaggio was at the start of 2025. Baykar has been freshly-granted Italian regulatory approval which is now set to conclude a long six-year insolvency restructuring regime for Piaggio.
Piaggio Aerospace has been under administrative restructuring since 2018 while they sought to find a new buyer for the company. It has been a long process that had hope along the way but never really materialized in terms of a sale. Mubadala was the last major shareholder in Piaggio but that fell through back in 2018. It represents "a strategic milestone in the relaunch of one of Italy’s historical aerospace brands with a major international investor," said Italian Minister Adolfo Urso.
In the last round of bidding, Baykar emerged as the top bidder. The idea was for an entity to come onboard to take over the business but also preserve Piaggio’s long-term production and keep the Italian nature of the business. Baykar is currently the world's largest unarmed combat aerial vehicle company. With this in mind, the Piaggio P.1HH HammerHead could potentially be a good fit for them going-forward.
Although, Piaggio was actively looking for a new buyer to carry forward the business, the company was still active in business with MRO contracts as well as manufacturing work. You might remember the Italian government had several MRO-related work with many of their Avanti aircraft. For more information: Piaggio Aero Viale Generale Disegna, 1 17038 Villanova d’Albenga (Savona, Italy) www.piaggioaerospace.it ***
