Italian defence industry company Leonardo and Turkish unmanned aerial vehicle (UAV) manufacturer Baykar have signed a memorandum of understanding to establish a joint venture to produce UAVs.
The joint statement from the parties highlighted that the European UAV market is projected to grow to around 100 billion dollars within the next ten years.
The CEO of Leonardo stated that unmanned aerial vehicles will assume a progressively significant role in the European defence system and that they aspire to establish a model company for this market. The joint venture will be based in Italy, with production facilities set to be established in both Italy and Türkiye.
Analysts indicate that the European UAV project, which is a collaborative effort among Leonardo and various European defence firms, is progressing at a sluggish pace and is not expected to reach its inaugural flight by 2027. In this context, the collaboration between Italy and Türkiye could provide a new impetus to UAV projects in Europe.