AeroVironment is establishing a Greek industrial presence through a new joint venture named AV Eagle.
The company partnered with Athens-based Eyeonix SA after securing Foreign Direct Investment approval from the Greek government. AeroVironment will maintain majority ownership of the venture to support defense priorities for Greece, Europe, and the U.S.
AV Eagle expects to begin operations in fiscal year 2027. The venture plans to build a facility for manufacturing unmanned aerial systems, loitering munitions, and counter-drone systems. Full production capabilities are scheduled to come online by 2028.
AeroVironment shares rose in overnight trading following the announcement.