ARCHYTAS is currently in the production stage of the first prototype, while its first test flight will take place in April 2024 and the start of mass production in May 2025. This reveals HAI's financial report for the year that has just ended and the one that has begun.
As it points out in the same report: "HAI is developing Unmanned Aerial Vehicles (UAVs), which it will then manufacture and market internationally. The ARCHYTAS and GRYPAS programmes are the first UAVs developed by HAI.
In the same report, he points out that the F-16 Viper program is running on schedule but for obvious reasons he makes no mention of time horizons as regards the C-130 maintenance programs, simply stating that he has started delivering aircraft to the Air Force, and the upgrade of the P-3 Orion naval cooperation aircraft, stating simply that ground tests are currently being carried out on one (1) of the four (4) aircraft with the aim of delivering it in 2024.
More specifically, the NAB's financial report states: "The Hellenic Aerospace Industry is continuously improving its financials, surpassing 100 million euros in sales revenue by 2023. Compared to €90 million in 2022, €75 million in 2021 and €49 million in 2020, HAI has doubled its revenues within the last three years and is for the third consecutive year a profitable company after several years of losses. The Company is targeting higher performance having significantly improved its productivity and operations and estimates that by 2027 it will have grown its turnover by 100% with ever increasing profitability.
The Company currently has 1,900 employees and with the closing of the latest current tender will exceed 2,000 employees in early 2024. Compared to the 1,300 people in 2010 this represents an increase of over 50%. The employees, who are a great asset to the Company, are on the whole highly skilled and knowledgeable about the advanced technology used by the Company. The staff have been the driving force that has enabled HAI to recover rapidly and return to healthy balance sheets, which allow it to plan for the future with great optimism. It should be noted that HAI was the first public company to introduce by law in 2022 a special productivity incentive (bonus).
The Company's productive activities and extroversion were also two important factors that contributed to the result.
Within the last three (3) years HAI has given priority to supporting the work of the Armed Forces, and in particular the Air Force, by providing services of high quality standards. Specifically, it is upgrading eighty-three (83) F-16s to Viper level and to date has delivered fifteen (15) aircraft strictly adhering to the program schedule. At the same time, it is executing the very challenging program of upgrading the air surveillance aircraft and is currently conducting ground tests on one (1) of the four (4) aircraft with a target delivery date of 2024. Consistently deliver firefighting aircraft to the Air Force to provide full coverage of the fire season. Executes the C-130 aircraft maintenance program and began delivering aircraft to the Air Force.
HAI exports consistently in deliveries and with excellent quality, as a subcontractor of Lockheed Martin, 30% of F-16s and C-130s for the global market and thereby contributes, as an export industry, to the foreign exchange inflow to the country. And recently, it has signed an extension of these contracts by 190 million euros.
The Company is increasing the pace of its educational activity, running education programmes worth hundreds of millions of euros to students from the UAE and Bahrain. It is investing 20 million euros in new facilities, having completed in record time the new 9,500 square meter Education Building and is launching the academic and geographical expansion of its educational programs, also aiming to establish an International Private Aerospace University. The Company collaborates with Universities and Research Centres in Greece and abroad for research and development of national products, as well as for the promotion of technology in Greece.
HAI develops Unmanned Aerial Vehicles (UAVs), which it will then manufacture and market internationally. The ARCHYTAS and GRYPAS programmes are the first UAVs developed by HAI. "ARCHYTAS" is currently in the production phase of the first prototype, with its first test flight scheduled for April 2024 and the start of mass production in May 2025.
HAI is also entering the space sector, starting with the assembly and then the manufacturing of microsatellites, having secured funding from the European Space Agency (ESA). The appropriate infrastructure for the project is already in place."
