BSK Defense is a successor to Velos O.E., a company established in 1982, producing a series of aerial target and aerial observation products used by foreign companies and armed forces. The current company was officially founded in Chania, Crete, in 2008. It focuses on design, development and production of defense systems, including UAVs (Phaeton, Ideon, Kyon, Erevos), USVs (Seirios 65 and 95), target drones (Nemesis, (H)Yperion, Panas), electronics, and UAV engines.