Dorita Yiannakou
Cyprus is moving from the sidelines to active participation in the global space industry, as local companies gain access to funding, partnerships and large-scale international projects through a newly formed industry association.
The Cyprus Space Industry Association, established last month, provides a formal framework to organize and represent the country’s rapidly growing space sector. The association gives Cypriot companies a collective voice and positions them to compete for European and international funding tied to multimillion-euro space projects.
Cypriot firms are already developing software and hardware technologies used in space missions, and several are participating in large-scale international programs. Officials say the goal is to establish Cyprus as an emerging hub for space innovation in the Eastern Mediterranean, leveraging the country’s flexible business environment to attract international partners.
The association’s founding members include companies working on technologies that are being integrated into space missions. One of its first initiatives is the promotion of cross-border cooperation, beginning with a memorandum of understanding to be signed with Greek space-sector companies. The agreement is expected to lay the groundwork for broader regional and global partnerships.
Interest in Cyprus is also growing among major international players. As previously reported by K, defense, aerospace and high-technology companies from the United States and India are considering establishing operations on the island. Lockheed Martin has already announced plans to create a research and innovation center in Cyprus, focusing on advanced software development and next-generation microchips.
A unified industry voice
The Cyprus Space Industry Association now represents the interests of the country’s space ecosystem, which includes 24 member companies just one month after its launch. The association operates under the umbrella of the Cyprus Employers & Industrialists Federation (OEB).
Member companies employ highly specialized scientific staff and focus on producing high value-added products and services. Their work contributes to technological advancement, research development and Cyprus’s outward-facing economic strategy.
Association officials say their priority is to boost the competitiveness of the Cypriot space industry, encourage innovation and ensure local companies can capitalize on opportunities in the European and global space markets.
Economic and strategic benefits
The association says cooperation with European institutions will generate broad economic benefits, including the development of infrastructure that allows Cypriot companies to export space-related products to international organizations and corporations.
Additional benefits include the creation of high-skilled jobs, the transfer of expertise, the upgrading of human capital and the use of dual-use technologies that can support national security. Officials also point to increased political and diplomatic standing for Cyprus through participation in European and international space initiatives.
Maria Konstantinou, president of the association, told K that efforts are underway to build strong partnerships with international companies.
She said the association has developed a detailed action plan for the coming months, including meetings with government bodies and industry stakeholders in Cyprus and abroad, with the aim of bringing together all companies involved in space-related activities.
The association is also expanding cooperation beyond Greece to companies in other countries in the region.
Konstantinou said Cyprus aims to become a space innovation hub in the Eastern Mediterranean by creating an attractive ecosystem for startups, research centers, and international firms. The sector’s institutional organization and early international partnerships, she said, mark only the beginning.
