# Paramount, Greece partner on IRIX next-Gen, long-range loitering munitions

- Link: https://www.military.africa/2023/05/paramount-greece-partner-on-irix-next-gen-long-range-loitering-munitions/
- Published: 2023-05-12T07:21:26+01:00
- Author: Military Africa

_A New Partnership between Hellenic Defence Systems (EAS) and Global Aerospace and
Technology company, Paramount Presents Game-Changer for Greek UAV Market._

Greek state defence company, Hellenic Defence Systems (EAS) and Paramount Industries
Greece have signed a strategic partnership for the local production of next generation,
long-range loitering munitions, in a significant move to embolden the Greek defence
industry’s indigenous manufacturing capabilities.

The joint statement, made on the first day of the Defence Exhibition in Athens (
DEFEA 2023), comes at a time when the Greek industry is re-developing and enhancing
its indigenous defence and aerospace capabilities.

Paramount recently [unveiled](https://www.military.africa/2023/02/evolution-of-paramount-brand-unveiled-at-idex-2023)
it’s brand evolution at the International Defence Expo (IDEX 2023).

Hellenic Defence Systems (EAS), the leading Greek state-owned company, serves as
a strategic partner of some of the largest companies in the international defence
industry, with a storied 140 years-strong tradition of designing, developing, manufacturing
and supplying the Greek Armed Forces with NATO-type defense systems. The Hellenic
Ministry of Finance is the main shareholder and the company is supervised by the
Ministry of National Defence.

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The loitering munition system called ‘IRIX’ (The name Greek poet Homer used to describe
hawks) is poised to make history as the first loitering munitions produced in Greece,
while also establishing itself as one of the most advanced and long range loitering
munitions produced in Europe.

[Loitering munitions](https://www.military.africa/2023/05/loitering-munitions-offers-enhances-strike-capabilities-to-african-forces)
offer an attractive option for military forces looking to enhance their combat capabilities.

The agreement provides for the manufacturing of internationally competitive long-
range loitering munitions in Greece, that will serve both the Greek market and be
available for export to international customers.

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.”

IRIX is based on Paramount’s [highly-advanced N-Raven unmanned aerial vehicle (UAV) ](https://www.military.africa/2023/02/idex-2023-paramount-begins-production-of-n-raven-loitering-munition)
technology. The N-Raven has been digitally designed with quick transfer of technology
in mind, to enable governments to manufacture the loitering munitions trechnologies
in their countries.

The partnership will include the transfer of technology and skills for the local
co-production of IRIX and also EAS’ ongoing participation in the continued research
and development (R&D) of future upgrades for the IRIX system.

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 will be encouraged, in order to
achieve greater participation of, and autonomy for the Greek Defence Industry.

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IRIX is a robust yet cost-effective unmanned aerial vehicle (UAV) and loitering 
munition system, designed to strengthen armed forces’ aerial reconnaissance, engagement,
and precision strike proficiencies, addressing modern-day requirements for both 
asymmetrical and symmetrical warfare operational capability.

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

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George Kyriakos, CEO of Paramount Industries Greece stated: “The role of loitering
munitions on the modern battlefield has steadily increased, as seen in recent conflicts
taking place all around the world. These socioeconomic ramifications have made ensuring
security of supply of any nation’s defence technologies and capabilities, 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.

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