Greece’s defence industry has re-emerged as a strategic focus, driven by rising European defence spending and new weapons programmes. The Greek government maintains a strong presence in the sector, directly through state-owned companies and indirectly via institutions, investment funds, and innovation structures that connect defence with technological development.
State-Owned Enterprises
The Hellenic Aerospace Industry (EAB), fully state-owned under the Ministry of National Defence, leads in maintenance, repair, and upgrades of military aircraft and helicopters. EAB participates in international aeronautics programmes, including the F-16 Viper upgrade in collaboration with Lockheed Martin, and seeks a greater role in European defence cooperation.
Hellenic Defence Systems (EAS), formed in 2004 from the merger of PYRKAL and Hellenic Arms Industry, remains state-controlled. EAS produces ammunition, explosives, and weapons systems for the Armed Forces. With the recent surge in European demand for ammunition due to the Ukraine conflict, EAS is restructuring to increase production capacity and establish partnerships with European defence firms.
Hellenic Vehicle Industry (ELVO), now privately invested, continues to produce military vehicles, including trucks, armoured vehicles, and support vehicles, and may participate in new defence programmes.
Private Shipyards and Strategic Importance
Private shipyards, such as Skaramangas, Elefsina, Syros, and Salamis, play a critical role in the defence and naval ecosystem. While privately managed, they support the Armed Forces’ needs and contribute to maintaining industrial know-how, jobs, and domestic production.
Hellenic Centre for Defence Innovation (ELKAK)
The ELKAK, under the Ministry of National Defence, promotes an ecosystem linking the Armed Forces with research institutions, startups, and industry. Its aim is to develop new technologies in defence and security, aligning with broader European strategies to enhance innovation and reduce dependence on foreign weapon suppliers.
A New Model
Greece’s defence sector is transitioning from large state-owned enterprises to a flexible ecosystem combining public firms, private companies, and research institutions. Opportunities arise from European cooperation, increased defence budgets, and technological development. The challenge ahead is whether Greek companies and supporting institutions can seize these opportunities and strengthen Greece’s role in the European defence landscape.
