Europe is entering a new era marked by growing geopolitical challenges, efforts to strengthen the continent’s defence industrial base and the rollout of new funding mechanisms, creating what one industry executive describes as a historic opportunity.For Greece, the key challenge is not only to strengthen its armed forces but also to transform defence policy into a driver of industrial and technological development, according to Demosthenis Giannikos, Defence Sector Manager at BSS.In a commentary, Giannikos argued that Greece possesses the essential building blocks for such a strategy, including state-owned defence industries with valuable expertise, dynamic private-sector companies, internationally recognized universities and research centres, and a growing ecosystem of innovative small businesses and startups.What is missing, he said, is a coherent national strategy capable of linking these stakeholders around a common objective.Public-Private Cooperation Seen as KeyAccording to Giannikos, public and private defence industries should not be viewed as competing pillars but as complementary parts of the same value chain.Modernizing state-owned defence companies while leveraging the flexibility and export orientation of private firms could help create a stronger industrial ecosystem capable of participating more effectively in European programmes and international supply chains.He argued that establishing a comprehensive framework for cooperation among government institutions, private defence companies, universities, research centres and state-owned defence manufacturers is essential for strengthening national capabilities, technological sovereignty and economic growth.European Funding Opens New ProspectsThe evolving European defence financing framework is reshaping opportunities for the sector.Funding instruments such as the European Defence Fund, alongside programmes including SAFE, EDIDP, EDA, AGILE and EIC, as well as NATO-backed initiatives such as DIANA, NIF, SPS and UNITE, are designed to accelerate innovation and support the development of emerging technologies.These initiatives offer significant opportunities for Greek companies, Giannikos said, but access to such funding is not automatic.Success will require strategic planning, international partnerships, mature technological proposals and the formation of competitive multinational consortia.From Buyer to ProducerGiannikos noted that Greece can no longer afford to remain solely a purchaser of defence systems.Instead, the country should seek a larger role in defence research, development, manufacturing and exports, strengthening national security while creating highly skilled jobs and making better use of Greece’s scientific talent.He described the defence industry as more than just another sector of the economy, calling it a strategic force multiplier, a catalyst for technological progress and a pillar of national resilience.If Greece invests in its capabilities in a coordinated manner, he said, the current European environment could be transformed into a long-term competitive advantage.“The defence industry, both public and private, is indeed a national asset, provided it is supported by a coherent national strategy, a stable institutional framework and meaningful links with research and production,” Giannikos concluded.