AeroVironment forms Greek joint venture for drone production

AeroVironment has announced the establishment of AV Eagle, a majority-owned joint venture with Athens-based Eyeonix SA, to expand its defense technology presence in the European market. The venture follows a definitive shareholders agreement and foreign direct investment approval from the Hellenic Republic Ministry of Foreign Affairs.

AV Eagle is expected to become operational in fiscal year 2027. The partnership aims to provide a platform for localization and production of unmanned aerial systems, loitering munitions, and counter-unmanned aircraft systems (C-UAS). Potential activities include the establishment of a new manufacturing and assembly facility in Greece to serve defense and civil protection customers within Greece and the broader European market.

Production capabilities are projected to be operational by 2028. The venture will collaborate with local industry and the Hellenic Center for Defence Innovation to enhance supply-chain resilience and allied readiness. AeroVironment leadership noted that the current European security environment has created significant demand for advanced autonomous systems.