Erdogan’s son-in-law buys Italian aerospace company to overcome embargoes and restrictions

Selçuk Bayraktar (L) and Turkish President Recep Tayyip Erdogan.

Levent Kenez/Stockholm

Turkish firm Baykar, a defense contractor owned by the son-in-law of Turkish President Recep Tayyip Erdogan, has signed a preliminary agreement to acquire Italy’s Piaggio Aerospace on January 27, marking a significant step in its international expansion . The deal, approved by Italy’s Ministry of Enterprises and Made in Italy in December 2024, involves the transfer of Piaggio Aero Industries and Piaggio Aviation’s business operations to Baykar. Pending additional approvals, including from the Italian Council of Ministers, the transaction is expected to conclude by spring.

According to an analysis by Turkey’s state-run Anadolu news agency, Baykar’s acquisition of Piaggio Aerospace represents a strategic response to long-standing trade and export barriers faced by Turkey in the defense sector. Unlike conventional industries, the defense industry requires navigating complex regulatory frameworks and diplomatic relationships, often influenced by geopolitical considerations.

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