Leonardo, Baykar launch $100B drone revolution
Italian defence-and-aerospace giant Leonardo and Turkey's Baykar Technologies signed a memorandum of understanding to set up a joint venture to produce unmanned aerial vehicles.
The joint venture, based in Italy, will focus on the European market amid efforts to boost investments in defence in Europe.
The companies said in a note that they estimated the European market for UAVs would be worth some 100 billion dollars over the next 10 years.
"Baykar will combine ethical AI-driven technologies with Leonardo's immense capability in AI technologies to develop next-generation solutions that will define the future of unmanned aerial systems.
Together, this synergy will bring ultimate AI-driven air supremacy for the future", said the statement.
The Leonardo sites involved in the activities developed by the joint venture will include Ronchi dei Legionari in Friuli, Turin, Rome Tiburtina and Nerviano in Lombardy, the company said.
