Editing Piaggio Aerospace (section)

{{Short description|Multinational aerospace manufacturing company headquartered in Genoa}}
{{Use British English|date=January 2024}}
{{Infobox company
| name = Piaggio Aerospace
| logo = Piaggio Aerospace Logo.svg
| logo_size = 150px
| former_name = Piaggio Aero Industries
| type = [[Subsidiary]]
| founded = {{Start date and age|1884|df=yes}}
| founder = [[Rinaldo Piaggio]]
| hq_location_city = [[Genoa]]
| hq_location_country = Italy
| key_people = Renato Vaghi ([[Chief executive officer|CEO]])
| area_served = 
| industry = [[Aerospace]]
| products = {{flatlist|
*Aircraft
*aero engines
}}
| revenue = 
| operating_income = 
| net_income = 
| num_employees = 
| parent = [[Baykar]]
| subsid = 
| website = {{URL|www.piaggioaerospace.it}}
| footnotes = 
}}

'''Piaggio Aerospace''', formerly known as '''Piaggio Aero Industries''', is a [[Multinational corporation|multinational]] aerospace [[Manufacturing|manufacturing company]] headquartered in [[Villanova d'Albenga]], Italy. The company designs, develops, manufactures and maintains aircraft, aero-engines, aerospace components and aerostructures. The company is a [[subsidiary]] of [[Defense industry of Turkey|Turkish defence company]] [[Baykar]].

Established in 1884 as ''Rinaldo Piaggio S.p.A.'', it shares its ancestry with motor vehicle manufacturer [[Piaggio]] and is one of the world's oldest aircraft manufacturers, having produced its first aircraft during 1915. The company's facilities were rebuilt following the [[World War II|Second World War]] and several original designs, including the [[Piaggio P.136|P.136]] [[seaplane]], the [[Piaggio P.149|P.149]] trainer aircraft, and the [[Piaggio P.166|P.166]] utility transport, were released during the first two decades of the [[postwar]] era. During the 1960s, Piaggio began manufacturing [[jet engine]]s as well. During 1966, the business was separated into the aviation-focused ''Piaggio Aero'' and the [[Scooter (motorcycle)|motor scooter]] manufacturer [[Vespa]].

During the 1980s, Piaggio developed a new generation [[business aircraft]], the [[Piaggio P.180 Avanti|P.180 Avanti]]. During the late 1990s, Piaggio underwent drastic changes following its [[bankruptcy]]. The company was negatively impacted by the [[Great Recession]] and the downturn in the [[business aircraft]] market. During late 2018, the company entered into [[receivership]] after having declared itself [[Insolvency|insolvent]]. The firm owns a subsidiary in the United States, ''Piaggio America'', located in [[West Palm Beach, Florida]]. In 2021, Piaggio America filed for [[Chapter 11, Title 11, United States Code|Chapter 11 bankruptcy]].

On 27 December 2024, [[Baykar]], one of Turkey's leading defense industry companies, acquired Italy's 140-year-old well-established aviation company Piaggio Aerospace.<ref>{{cite web |url = https://www.mimit.gov.it/it/notizie-stampa/mimit-baykar-acquisisce-piaggio-aerospace |title = Mimit: Baykar acquisisce Piaggio Aerospace  |publisher = Il Ministero delle Imprese e del Made in Italy |date = 27 December 2024}}</ref><ref>{{cite web |url = https://www.reuters.com/markets/deals/turkish-drone-maker-baykar-buys-italys-piaggio-aerospace-2024-12-27/ |title = Turkish drone maker Baykar buys Italy's Piaggio Aerospace  |publisher = [[Reuters]] |date = 27 December 2024}}</ref> Baykar was the company that submitted the best bid in the tender held to purchase Piaggio Aerospace. Baykar won the tender, which was a contentious process, by leaving behind its competitors who bid from different countries.