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Investing.com -- Italian defense and aerospace company Leonardo SpA and Turkish drone manufacturer Baykar are preparing to announce a partnership on drones, Bloomberg News reported.
The announcement, which is set to take place on Thursday, will include the unveiling of a joint venture focused on the development of high-technology drones.
The partnership aligns with Baykar’s strategic goal to start manufacturing both planes and drones with Leonardo SpA, thereby securing a stronger presence in the European market.
Both Italy and Turkey have expressed interest in the past to collaborate on investment partnerships in the defense and aviation sectors.
Baykar was authorized by Italy in December to purchase aviation and defense company Piaggio Aerospace. Piaggio is known for designing and constructing aircraft and aeronautical engines for both military and civil applications.
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