Hanwha Aerospace Sets Sights on European Arms Market Expansion

Hanwha Aerospace anticipates doubling its European land arms revenue by 2027. The South Korean defence giant plans to localize production in customer countries, supported by its government. Notably, it secured lucrative deals with Poland and Romania, enhancing its international footprint amid global tensions.

Hanwha Aerospace, South Korea's premier defence firm, is projecting a 100% increase in its European land arms revenue by 2027. This growth is driven by strategic agreements allowing the production of its defense products in the home countries of its customers, according to CEO Son Jae-il.

The demand for domestic production of weapons has grown, leading Hanwha to integrate joint production into its global strategy. Such moves are aimed at easing political pressures in potential markets, creating jobs, and securing supply chains as evidenced by recent deals with Poland and Romania.

Despite geopolitical tensions, Hanwha has maintained its supply chain and expanded its capabilities, positioning itself as a viable option for NATO countries seeking quick and cost-effective weaponry solutions. South Korea's drive to become the fourth-largest arms exporter by 2027 further highlights its growing influence in the global arms market.

(With inputs from agencies.)