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Hellenic Defence Systems and Paramount Sign Agreement to Produce IRIS Loitering Munitions

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Hellenic Defence Systems and Paramount Sign Agreement to Produce IRIS Loitering Munitions

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Hellenic Defence Systems and Paramount Sign Agreement to Produce IRIS Loitering Munitions
Hellenic Defence Systems and Paramount Sign Agreement to Produce IRIS Loitering Munitions

A New Partnership between Hellenic Defence Systems (EAS) and Global Aerospace and Technology company, Paramount Presents Game-Changer for Greek UAV Market Athens, Greece. 11th of May 2023. Greek state defence company, Hellenic Defence Systems (EAS) and Paramount Industries Greece have signed a strategic partnership for the local production of next generation, long-range loitering munitions, in a significant move to embolden the Greek defence industry’s indigenous manufacturing capabilities. The joint statement, made on the first day of the Defence Exhibition in Athens (DEFEA 2023), comes at a time when the Greek industry is re-developing and enhancing its indigenous defence and aerospace capabilities.

Nikolaos Kostopoulos, CEO of Hellenic Defence Systems (EAS) said, “We are very excited to be going into production, in Greece, with one of the world’s most advanced long-range loitering munitions. In Paramount we have found an ideal strategic partner, recognised as one of the pioneers in the loitering munitions industry. EAS and Paramount have jointly developed an innovative and advanced product, called IRIX.”

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Steve Griessel, Paramount Global CEO stated: “We are privileged to be one of EAS’ global partners of choice, leveraging our decades of unmanned aerial innovation and portable production expertise to jointly develop and produce the IRIX in Greece. At Paramount we believe that true partnerships and innovation mean that we design and produce technologically advanced, affordable and highly customisable solutions together with our partners.”

IRIS Long-range Loitering Munitions
IRIS Long-range Loitering Munitions. (Photo by Paramount)

The loitering munition system called ‘IRIX’ (The name Greek poet Homer used to describe hawks) is poised to make history as the first loitering munitions produced in Greece, while also establishing itself as one of the most advanced and long range loitering munitions produced in Europe. Hellenic Defence Systems (EAS), the leading Greek state-owned company, serves as a strategic partner of some of the largest companies in the international defence industry, with a storied 140 years-strong tradition of designing, developing, manufacturing and supplying the Greek Armed Forces with NATO-type defence systems. The Hellenic Ministry of Finance is the main shareholder and the company is supervised by the Ministry of National Defence.

IRIX is based on Paramount’s highly-advanced N-Raven unmanned aerial vehicle (UAV) technology. The N-Raven has been digitally designed with quick transfer of technology in mind, to enable governments to manufacture the loitering munitions technologies in their countries. The partnership will include the transfer of technology and skills for the local co-production of IRIX and also EAS’ ongoing participation in the continued research and development (R&D) of future upgrades for the IRIX system. The companies further announced that the involvement of other Greek companies in the supply chain for the production of the system will be encouraged, in order to achieve greater participation of, and autonomy for the Greek Defence Industry. The agreement provides for the manufacturing of internationally competitive long-range loitering munitions in Greece, that will serve both the Greek market and be available for export to international customers.

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