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 leverage its comparative advantages and turn even the “Greek paradox” into an investment opportunity. This message was pervasive during the first day of the Athens Defence Conference 2026, organized by the Delphi Economic Forum, in cooperation with the Hellenic Foundation for European and Foreign Policy (ELIAMEP).
Speaking about the opportunities ahead for Greece, the Director General for Defence Armaments and Investments (GDAEE), Major General Ioannis Bouras, stressed that our country is in 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 organized military bases, developed energy and transport infrastructure, naval expertise, industrial tradition and highly skilled human capital” he said, adding that these elements are not merely geographical or economic advantages, but strategic and competitive advantages.
According to Mr. Bouras, Greece “can function as a regional hub for maintenance and technical support activities, industrial cooperation, transfer of know-how, testing, training and co-production.
It can serve as a bridge between European and allied initiatives, connect the operational experience of the Armed Forces with the capabilities of domestic industry and the research community, and contribute substantially to the stability of the Eastern Mediterranean and Southeastern Europe”.
The Director General for Defence Armaments and Investments also referred to the modern dimension of conflicts, arguing that developments are so dizzying that technologies such as Artificial Intelligence, unmanned systems, cyber security, satellite applications, data analysis, autonomous systems and advanced software are no longer immediate operational needs.
The “Greek paradox” and ELKAK’s bet
In this direction, he estimated that the contribution of the Hellenic Center for Defence Innovation (ELKAK) is particularly important, as it can act as a catalyst between operational needs, research knowledge, industrial application and investment interest.
“It can help bridge the gap from idea to prototype, from prototype to testing and from testing to operational utilization”, Mr. Bouras said.
For his part, ELKAK CEO Pantelis Tzortzakis spoke about the “Greek paradox.” As he said, in 2025 the European Defence Fund received about 550 proposals, of which only 55 were approved, a rate corresponding to 10%. Of these, 62% of the approved proposals had Greek participation, a fact which, as he noted, shows “that there is tremendous participation by people and companies that can lead to the next day”.
In this context, according to Mr. Tzortzakis, ELKAK’s goal is to turn this “paradox” into a substantial Greek investment opportunity.
He explained that ELKAK is moving along three main axes. The first concerns the creation of added value in Greek defense products, with contracts worth about 120 million euros already underway for the development of prototypes.
The second axis concerns the mapping of the Greek defense ecosystem. As he mentioned, about 600 Greek businesses and 150 research laboratories have already been mapped, allowing ELKAK to have a clear picture of the level of technological maturity, as well as the human resources of each business and research team.
At the same time, ELKAK operates as a technology transfer office for the Greek military academies. In this context, 12 doctoral scholarships have already been granted.
Besides, as Grigoris Koutsogiannis, Group CEO, EFA Group, pointed out, we are in a period when the defense sector is attracting more and more investment. In 2025, defense spending in Europe amounted to about 381 billion euros, recording an 11% increase compared to 2024.
At the same time, Mr. Koutsogiannis spoke of significant progress in areas such as sensors and electronic systems, while also referring to the importance of pan-European programs, which, as he said, give a particular boost to industry.
As regards the financing of European defense, the Vice-President of the European Investment Bank (EIB), Ioannis Tsakiris, stated that the EIB has already tripled its financing toward defense and security projects, while in the coming months it will announce new significant investments.
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 human capital makes it a pillar of stability”, he said, while also announcing that “in the coming months we will announce major investments”.
SAFE: The disbursement of 118 million euros for Greece is at the gates
Finally, the Commissioner for Sustainable Transport and Tourism of the European Commission, Apostolos Tzitzikostas, also took the stage at the Athens Defence Conference and, among other things, announced that the release of resources amounting to 118 million euros to Greece is a matter of days, while until 2030 resources have been earmarked from SAFE for our country corresponding to 31.6% of its annual spending for defense and armaments purposes.