AeroVironment is forming a Greek joint venture to expand European drone production.

  • AeroVironment formed AV Eagle with Greece-based Eyeonix SA after receiving investment approval.
  • The venture could manufacture drones, loitering munitions and counter-drone systems for European customers.
  • AeroVironment expects to reach a revenue range of $3.5 billion to $4 billion by fiscal 2030.

AeroVironment Inc. (AVAV) stock gained overnight after the defense technology company announced a joint venture with Greece-based Eyeonix SA. The partnership will establish a local industrial presence and could support production of unmanned aerial systems for European defense customers. 

AeroVironment Expands Into Greece 

The Arlington, Virginia-based defense technology company said Thursday it has formed AV Eagle with Athens-based Eyeonix SA after securing foreign investment approval from Greece’s Ministry of Foreign Affairs. The partnership follows more than a decade of cooperation between the two companies.

AV Eagle could create a Greek manufacturing site capable of building and assembling unmanned aerial vehicles, loitering munitions and counter-unmanned aircraft systems. The facility would serve customers in Greece as well as other European markets, with production targeted to begin in 2028.

“The security environment in Europe has created unprecedented demand for advanced, reliable autonomous systems,” said Chairman, President and CEO Wahid Nawabi. 

AeroVironment stock edged 0.8% higher overnight, heading into Friday. 

AVAV to Cater To European Defense Demand

Nawabi said the venture is designed to develop long-term industrial capacity in Greece, support NATO partners and expand manufacturing to address operational requirements.

AeroVironment expects AV Eagle to start operations in fiscal 2027, paving the way for more investment and local manufacturing as demand grows. AeroVironment will own a majority stake in the venture and include its results in the company’s financial statements. 

“At a time of increasing geopolitical complexity—particularly along EU’s Eastern Flank—the need for interoperable, scalable, and sovereign unmanned and counter-UAS capabilities has never been more critical,” said George K. Strouzakis, CEO, Eyeonix SA.

AeroVironment has rapidly scaled its operations, achieving record financial performance with fiscal year revenue topping $1.97 billion, up more than 140% year-on-year—propelled by the integration of its BlueHalo acquisition and surging global demand for uncrewed systems.

At its investors day last month, the company said it expects to reach $3.5 billion to $4 billion in revenue by fiscal 2030, representing a 15%-20% organic annual growth rate. The company also plans to invest 7%-9% of revenue in research and development. 

AVAV Stock: Retail View 

On Stocktwits, retail sentiment around the stock turned to ‘bearish’ from ‘bullish’ territory the previous day. 

A user said, “$AVAV I think there's a good chance this gets swallowed by one the bigs.. $LMT.”

AVAV stock has cratered nearly 34% year-to-date. 

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