Theon secures €50 million contracts for soldier vision systems

Theon International Plc, a leading manufacturer of cutting-edge night vision and thermal imaging systems for defense and security applications, has announced a significant milestone in its portfolio of contracts. The company has secured orders worth a total of approximately €50 million from European and Middle Eastern countries, with deliveries expected to commence this year. This marks a significant step in Theon’s journey towards developing a European, fully interconnected future soldier vision system, as it received its first major contract award for the supply of its NYX night vision goggles and ORION fused goggles to a European NATO Member state.

In addition to this, Theon has also received further orders for various land and sea applications from its subsidiary, KAPPA, amounting to a high single-digit million amount in total. This follows the reprioritization towards land forces equipment that Theon had anticipated earlier this year, with the company now being selected across several other higher-value contracts and options. These orders further reinforce Theon’s leadership position in the evolving soldier modernization era, and the company expects to see strong order intake in the last quarter of 2026 and the first quarter of 2027, pending the approval processes by various governments.

Philippe Menn, Deputy CEO and Business Development Director of Theon, expressed his satisfaction with the current demand indicators, noting that the company is already seeing positive signals for the coming periods. Menn highlighted that Theon’s selection across several other higher-value contracts and options is expected to deliver strong order intake in the near future. Theon has already commenced offering an integrated electro-optical platform globally through initial integration activities, including activities related to gimbals and air defense systems.

Theon International Plc, founded in 1997 from Greece and now operating through subsidiaries and production facilities in multiple countries including Greece, Cyprus, Germany, the Baltics, the United States, the Gulf States, Switzerland, Denmark, Belgium, Singapore, and South Korea, has a global footprint with more than 300,000 systems in service with Armed and Special Forces in 73 countries around the world, 26 of which are NATO countries. Theon is listed on Euronext Amsterdam since February 2024.