The Cyprus defence industry is not only a highly promising sector for the country’s economy but also plays a key role in strengthening Cyprus’ deterrence capabilities, President Nikos Christodoulides said in a post on X.
The President shared a post by Tasos Kounoudis regarding the 28% participation of the Cypriot defence industry in projects under the 2025 European Defence Fund (EDF).
Participation in EU defence projects
In his post, President Christodoulides said Cyprus is “proud of the Cypriot defence industry”, adding that he believes its contribution to the country’s GDP could reach double digits in the coming years.
“I know first-hand the capabilities and prospects of the sector,” the President noted.
€280 million in defence projects
In his own post, Kounoudis said that Cyprus’ defence industry participation in 28% of the projects announced on 15 April 2026 under the European Defence Fund confirms its continued growth and consolidation within European defence.
He added that the total project budget exceeds €280 million, covering 16 projects and involving 10 companies.
According to Kounoudis, the development is the result of long-term and systematic efforts, targeted investments by businesses, and a coordinated government policy in the sector.
He also expressed thanks to the Presidency of the Republic of Cyprus and the Ministry of Defence for their support of the Cypriot defence industry.