Growth of the Cypriot Defense Industry and Its Economic Benefits
June 3, 2025
Cypriot companies in the defense industry are rapidly growing, with their numbers having increased tenfold in recent years. The defense sector generates approximately €40 million in revenue, and the government prioritizes its development. The Minister of Defense emphasized the importance of support for these companies, which can also provide products to the public sector. EU funding and government grants enhance their credibility and growth.