Greece’s Defence Sector Soars with Cutting-Edge Drone Innovations

The Greek state defense corporation, Hellenic Defence Systems (EAS) alongside Paramount Industries Greece has formalized a strategic alliance for the domestic production of next-generation, long-range loitering munitions. This is a pivotal step in fortifying the indigenous manufacturing capabilities of the Greek defense sector.

This joint announcement, made on the inaugural day of the Defence Exhibition in Athens (DEFEA 2023), arrives at a moment when the Greek industry is revitalizing and enhancing its inherent defense and aerospace capacities.

The loitering munition system referred to as ‘IRIX’ (the moniker used by the ancient Greek poet Homer to denote hawks) is set to become historic as the first loitering munitions manufactured in Greece, and aims to stand out as one of the most sophisticated and long-range systems produced in Europe.

This agreement facilitates the production of competitively priced long-range loitering munitions within Greece, which will cater to the local market and be made available for export to global clients.

Hellenic Defence Systems (EAS), the foremost Greek state-owned entity, functions as a strategic partner to some of the largest firms in the international defense arena, boasting a rich 140-year history in the design, development, manufacturing, and provision of NATO-standard defense systems to the Greek Armed Forces. The Hellenic Ministry of Finance holds the majority stake, and the enterprise is overseen by the Ministry of National Defence.

Nikolaos Kostopoulos, the CEO of Hellenic Defence Systems (EAS) expressed, “We are thrilled to commence production in Greece with one of the globe’s most advanced long-range loitering munitions. In Paramount, we have discovered an exemplary strategic collaborator, recognized as one of the trailblazers in the loitering munitions field.”

“EAS and Paramount have collaboratively developed an innovative and enhanced product specifically tailored for the Greek market, named IRIX. This project is a flagship initiative for the redevelopment and enhancement of the Greek defense sector, something we take immense pride in.”

IRIX leverages Paramount’s cutting-edge N-Raven unmanned aerial vehicle (UAV) technology. The N-Raven has been meticulously designed with swift technology transfer in focus, enabling nations to locally produce loitering munition technologies.

This collaboration will encompass the transfer of technology and expertise for the domestic co-production of IRIX and will also involve EAS’s ongoing engagement in the continuous research and development (R&D) of future enhancements for the IRIX system.

Steve Griessel, Paramount Global CEO stated: “We are honored to be one of EAS’s preferred global partners, utilizing our decades of innovation in unmanned aerial systems and agile production know-how to jointly create and manufacture the IRIX in Greece. At Paramount, we believe that genuine partnerships and innovation mean collaboratively crafting technologically advanced, affordable, and highly adaptable solutions with our partners.”

The companies also announced that they will encourage participation from additional Greek firms in the supply chain for the system’s production, aiming to enhance the involvement and self-sufficiency of the Greek Defence Industry.

IRIX is a durable yet economical unmanned aerial vehicle (UAV) and loitering munition system, designed to bolster armed forces’ aerial reconnaissance, engagement, and precision strike abilities, meeting the contemporary requirements for both asymmetrical and symmetrical warfare operational efficiency. This platform provides operational commanders with actionable intelligence in real time, enabling them to target high-value assets deep within adversary territory or to restrict the adversary’s access to critical operational terrain.

George Kyriakos, CEO of Paramount Industries Greece noted: “The significance of loitering munitions in the modern battlefield has progressively increased, as evidenced by recent global conflicts. These socioeconomic impacts highlight the necessity of ensuring the security of supply of any nation’s defense technologies and capabilities, which is imperative for stability and growth.”

“The partnership between Paramount Industries Greece and Hellenic Defence Systems will deliver a robust solution to meet the rising demand for advanced and precise loitering munitions, thereby enhancing Greece’s defense capabilities along with those of NATO and European nations. Importantly, it will also uplift our local industry, creating high-tech opportunities and skilled employment in the regional market,” he concluded.