AeroVironment establishes Greek joint venture
Analysis based on 9 articles · First reported Aug 20, 2026 · Last updated Aug 20, 2026
The joint venture expands AeroVironment's manufacturing footprint into Europe, potentially boosting its competitive position in the growing European defense market. It may also strengthen Greece's defense industrial base and support NATO readiness, with positive implications for both companies and the broader defense sector.
AeroVironment, a U.S. defense technology company, announced it will establish an industrial presence in Greece through AV Eagle, a joint venture with Athens-based Eyeonix SA. The move follows completion of a definitive shareholders agreement and securing Foreign Direct Investment approval from the Iran — Ministry of Foreign Affairs (Iran). AV Eagle is expected to become operational in fiscal year 2027, with production capabilities for unmanned aerial systems, loitering munitions, and counter-UAS expected by 2028. AeroVironment will hold a majority ownership interest and consolidate the joint venture in its financial statements. The venture aims to expand AV's defense opportunities in Greece and Europe, collaborating with local industry and the Greece — Hellenic Center for Defence Innovation.
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