Selcuk Bayraktar, chairman of Turkish defence firm Baykar
Italy's Leonardo signs MoU with Turkey's Baykar for drone joint venture
The two companies say they estimate the European market for unmanned aerial vehicles to be worth $100 billion over the next 10 years.
Thursday 06/03/2025
Selcuk Bayraktar, chairman of Turkish defence firm Baykar
ROME - Italy's Leonardo announced on Thursday it would form a joint venture for drones with Turkey's Baykar, as the state-controlled defence company seeks to grow through alliances to take advantage of rising defence spending in Europe.
The two companies said in a statement they estimated the European market for unmanned aerial vehicles (UAV) to be worth $100 billion over the next 10 years. It added that the joint venture would be based in Italy.