Greek defense exports see growing demand amid rising threat environment

Two of Greece’s leading defense technology companies, Hellenic Aerospace Industry and Theon International, are seeing growing overseas demand underscoring how a rising international threat environment and Greece’s defense modernization program is helping bolster the country’s cutting-edge exports.

With regional wars on its periphery and shifting defense alliances internationally, the European Union unveiled an €800 billion rearmament drive last year. The ReArm Europe program coincides with Greece’s own 12-year, €26 billion armed forces upgrade, which is heavily focused on developing the country’s domestic defense tech ecosystem.

This month, Cyprus acquired four Centaur – or Kentavros in Greek – anti-drone systems developed by HAI, while Bulgaria has expressed an interest in acquiring more than a 100. Several other European countries are also said to be examining the system for integration in their defense platforms.

The Centaur system received global recognition after demonstrating its combat capabilities during EU naval missions in the Red Sea in 2024 and 2025. The Greek frigate Psara, outfitted with the Centaur system, effectively neutralized drones launched by Houthi rebels by disrupting their electronics – a groundbreaking and cost-effective method of countering drone threats.

Late last year, Theon – a world leader in cutting-edge night vision and thermal imaging systems – signed an historic, €1 billion contract to supply 100,000 night-vision binoculars to the German and Belgian armed forces, the largest night-vision deal in NATO history.

The group, which began operations in 1997, has a presence in a dozen countries and boasts more than 240,000 systems in service with armed forces in 71 countries. It is the largest supplier of night vision equipment in Europe.