New prospects are opening up for Greece in the defense sector, at a time when Europe is significantly increasing funding for the sector, creating the conditions for our country to capitalize on its comparative advantages and even turn the “Greek paradox” into an investment opportunity. This message was evident throughout the first day of the Athens Defense Conference 2026, organized by the Delphi Economic Forum in collaboration with the Hellenic Foundation for European and Foreign Policy (ELIAMEP).
Speaking about the opportunities ahead for Greece, the Director General of Defense Equipment and Investments (GDAEE), Major General Ioannis Bouras, emphasized that Greece occupies a geographical, political, and strategic position that allows it to play a substantial role as a regional hub for defense cooperation.
“We are at the crossroads of Europe, the Eastern Mediterranean, the Balkans, the Middle East, and NATO’s southeastern flank. We have well-organized military bases, developed energy and transportation infrastructure, naval expertise, an industrial tradition, and a highly skilled workforce,” he stated, adding that these factors are not merely geographical or economic advantages, but strategic and competitive advantages.
According to Mr. Boura, Greece “can serve as a regional hub for maintenance and technical support activities, industrial cooperation, technology transfer, testing, training, and co-production.
It can serve as a bridge between European and allied initiatives, link the operational experience of the Armed Forces with the capabilities of the domestic industry and the research community, and contribute substantially to the stability of the Eastern Mediterranean and Southeast Europe.”
The Director General of Defense Equipment and Investments also addressed the modern dimension of conflicts, arguing that developments are progressing at such a dizzying pace that technologies such as Artificial Intelligence, unmanned systems, cybersecurity, satellite applications, data analysis, autonomous systems, and advanced software are no longer merely immediate operational needs.
The “Greek paradox” and ELKAK’s challenge
In this regard, he assessed that the contribution of the Hellenic Center for Defense Innovation (ELKAK) is particularly significant, as it can serve as a catalyst between operational needs, research knowledge, industrial application, and investor interest.
“It can help bridge the gap from concept to prototype, from prototype to testing, and from testing to operational deployment,” said Mr. Bouras.
For his part, ELKAK CEO Pantelis Tzortzakis spoke about the “Greek paradox.” As he noted, in 2025 the European Defense Fund received approximately 550 proposals, of which only 55 were approved—a rate of 10%. Of these, 62% of the approved proposals involved Greek participation, a fact which, as he noted, shows “that there is tremendous engagement from people and companies that can lead the way forward.”
In this context, according to Mr. Tzortzakis, ELKAK’s goal is to transform this “paradox” into a substantial Greek investment opportunity.
He explained that ELKAK operates along three main axes. The first concerns the creation of added value in Greek defense products, with contracts totaling approximately 120 million euros already underway for the development of prototypes.
The second pillar involves mapping the Greek defense ecosystem. As he noted, approximately 600 Greek companies and 150 research laboratories have already been mapped, allowing ELKAK to gain a clear picture of the level of technological maturity, as well as the human resources of each company and research team.
At the same time, ELKAK serves as a technology transfer office for Greek military academies. Within this framework, 12 doctoral fellowships have already been awarded.
Moreover, as Grigoris Koutsogiannis, Group CEO of EFA Group, pointed out, we are in a period where the defense sector is attracting more and more investment. In 2025, defense spending in Europe amounted to approximately 381 billion euros, marking an 11% increase compared to 2024.
At the same time, Mr. Koutsogiannis highlighted significant progress in areas such as sensors and electronic systems, while also noting the importance of pan-European programs, which, he said, provide a significant boost to the industry.
Regarding the financing of European defense, the Vice President of the European Investment Bank (EIB), Ioannis Tsakiris, stated that the EIB has already tripled its funding for defense and security projects and will announce significant new investments in the coming months.
Regarding Greece, Mr. Tsakiris argued that the country can play a leading role in this new reality. “Greece is called upon to play an important role in this emerging environment. Its exceptionally capable workforce makes it a pillar of stability,” he said, while also announcing that “in the coming months, we will announce major investments.”
SAFE: Disbursement of 118 million euros for Greece Imminent
Finally, the European Commission’s Commissioner for Sustainable Transport and Tourism, Apostolos Tzitzikostas, who, among other things, announced that the release of 118 million euros in funds for Greece is a matter of days, while SAFE has allocated funds for our country through 2030 equivalent to 31.6% of its annual defense and military procurement expenditures.