Ground-breaking IRIX loitering munition unveiled at DEFEA 2023, bolstering Greece’s defence industry and military capabilities (Studio)

Brought to you in partnership with Paramount

Paramount Industries Greece has formed a strategic partnership with Hellenic Defence System (EAS) to coproduce the IRIX loitering munition.

Announced during the Defence Exhibition Athens (DEFEA 2023), the alliance provides for the manufacturing of advanced long-range loitering munitions in Greece for both the Greek market and potential export to international customers.

The collaboration will also enable the transfer of IRIX manufacturing know-how to EAS and encourage their involvement in research and development for future system upgrades, enhancing defence capabilities and creating jobs.

Nikolaos Kostopoulos, CEO of Hellenic Defence Systems (EAS) stated: '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, specifically designed for the Greek market, called IRIX. This is a light house project for the redevelopment and enhancement of the Greek defence industry, which we are immensely proud of.'

EAS is a Greek state-owned company with a 140-year history 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.

Loitering munitions have become an essential capability on the modern battlefield. The IRIX (Greek poet Homer referred to hawks as Irix) is designed to strengthen armed forces’ aerial reconnaissance, engagement, and precision strike proficiencies, addressing modern-day requirements for asymmetrical and symmetrical warfare operational capability.

The platform offers operational commanders with real-time actionable intelligence along with the ability to strike high-value targets deep within enemy territory or to deny the enemy use of operationally essential terrain.

The IRIX is based on Paramount’s N-Raven uncrewed 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.

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.'

The companies further announced that the involvement of other Greek companies in the supply chain for the production of the system would be pursued to achieve greater participation for the Greek defence industry.

George Kyriakos, CEO of Paramount Industries Greece, stated that ensuring security of supply of any nation’s defence technologies and capabilities was a prerequisite to stability and growth. 

'The partnership between Paramount Industries Greece and Hellenic Defence Systems will provide a powerful solution for the growing need for advanced and precise loitering munitions, enhancing Greece's defense capabilities as well as NATO and European defence capabilities. Importantly, also boosting our local industry and creating high tech opportunities and skilled jobs in the local market,' he concluded.