Greek innovation triumphs as THEON signs record defence agreement — a development highlighted in an interview with Mononews, where Christian Hatziminas, founder and CEO of THEON Sensors, described the company’s landmark contract with OCCAR as a historic milestone for both Greece and the global electro-optics sector.
According to Hatziminas, no other country or company has ever achieved a night-vision procurement deal of this scale, demonstrating the rapid rise of the Greek defence industry on the international stage. He added that this record agreement is only the beginning, as THEON prepares to expand further into platform-mounted electro-optics, satellite technologies, drone systems and next-generation surveillance platforms — areas expected to yield even larger strategic contracts in the near future.
On Wednesday, THEON announced a landmark deal with the European intergovernmental armaments organisation OCCAR for the supply of 100,000 night-vision systems, valued at €1 billion. The amendment to the existing contract — signed between OCCAR and the THEON/Hensoldt consortium — activates major options for additional deliveries: 100,000 NVGs for the German Armed Forces and 4,000 for Belgium. Including service options worth €100 million, the total value reaches roughly €1 billion, making it the largest single NVG procurement ever undertaken by a NATO member in Europe.
Speaking to Mononews, Mr Hatziminas emphasised that THEON now commands 60–70% of the European market for these systems. He expressed pride that a Greek company has become the global market leader in night-vision technology:
“This mega-agreement sends a clear message — the Greek defence industry is here.”
He added that THEON is investing heavily in emerging defence fields including drones and space-related technologies, creating what he described as a “large and integrated defence ecosystem.” The company is also constructing its third production facility in Koropi, dedicated to platform-mounted electro-optics, a rapidly expanding market segment.
Europe’s leading supplier of NVGs
The new order builds on earlier OCCAR procurements for 66,000 NVGs for Germany and 8,000 for Belgium — most already delivered. With the latest activation of options, the total framework now approaches 200,000 units, securing production continuity through to 2029.
THEON will supply its Mikron night-vision system, using 16mm image-intensifier tubes manufactured by Exosens. THEON has secured more than 400,000 IITs through its long-term commercial agreement with Exosens, ensuring ample capacity for existing and future orders.
Consistent with the company’s strategy of localised production, part of the assembly will take place in Germany at Hensoldt Theon NightVision (HTN) in Wetzlar, Hesse.
Following this latest order, THEON’s total contracts for 2025 reach €1.3 billion, rising to €2 billion including options. The company’s outstanding order book — including approximately €865 million in options likely to be exercised — now stands at €2.4 billion.
Defence analysts note that THEON’s rise mirrors broader European efforts to ramp up defence-industrial capacity since the war in Ukraine, with night-vision and soldier-systems technology among the fastest-growing segments of the market.
