Europe boosts defence with local tech deals

THEON, a leading developer and manufacturer of customizable night vision, thermal imaging, and Electro-Optical ISR systems, is bolstering European defence with local innovation and joint procurement. Listed on Euronext Amsterdam since February 2024, the company has a global footprint, with over 97% of its sales exported to 71 countries, including 26 NATO countries.

European Industrial Excellence

THEON’s core message is that Europe can only succeed by creating a collaborative environment and a level playing field for both established market leaders and fast-emerging innovators. The company advocates for EU policies that support European industrial excellence and sovereignty, incentivizing increased joint procurement and long-term framework contracts in the EU defence space.

Founded in 1997 in Greece, THEON’s manufacturing, assembly, maintenance, and R&D operations now expand to several countries, including Germany, Belgium, and the UK. The company’s journey has been driven by relentless in-house design and innovation, with a business model geared to serve markets, rather than relying on a single customer.

Joint Procurement and Framework Contracts

THEON diversifies its supply chain by providing Germany’s Future Soldier Program with its products and winning the largest man-portable tender for next-generation thermal clip-on IRIS-C through OCCAR for Germany and Belgium. They hold several Outline Agreements with NSPA for the supply of man-portable optronics.

THEON’s ITAR-free products can be modified at the request of European customers without requiring a foreign license, making it an attractive partner for joint procurement and framework contracts. They support the reform of the policy and regulatory environment at both EU and national levels to boost Europe’s productivity and competitiveness, which is closely related to the global markets and trade policies.

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As the EU aims to create a more integrated and efficient defence market, THEON’s approach to innovation and collaboration can serve as a model for other European companies. By leveraging local innovation and joint procurement, Europe can strengthen its defence capabilities and maintain sovereignty in the face of global challenges.

Regulatory Setting and Future Plans

THEON advocates for EU policies that bolster European industrial, ITAR-free excellence and sovereignty, supporting these through incentivizing increased joint procurement and long-term framework contracts in the EU defence space – within a genuinely reformed, streamlined, and cost-efficient regulatory setting at both EU and Member State levels.

The company’s efforts to bolster European defence with local innovation and joint procurement are likely to have a lasting impact.
They are well-positioned to contribute to the EU’s defence goals and support the development of a more integrated and efficient defence market.

It will be a significant development.