Hanwha Aerospace has signed a major supply contract amounting to 2.5% of its revenue. The market is paying close attention to the potential collaboration related to the replacement of Spain's aging self-propelled howitzers, scheduled for the third quarter.
According to a disclosure on July 27 by the Financial Supervisory Service, Hanwha Aerospace announced that it signed a basic contract for the supply of goods exceeding 2.5% of its revenue on July 24. The company's standalone revenue for 2025 is projected at 9.5251 trillion won, while its consolidated revenue is expected to reach 26.7029 trillion won. Based on these figures, the contract size is estimated to be between approximately 238.1 billion and 660 billion won.
Hanwha Aerospace stated, "Due to the confidentiality request from the counterparty, details such as the contract name, amount, supply items, counterparty, and contract duration are undisclosed. We will re-disclose this information once the confidentiality reasons are resolved."
Industry insiders believe that this contract is likely related to Spain's project to replace its aging M109 self-propelled howitzers. Spain is pursuing the introduction of a 155mm tracked self-propelled howitzer system utilizing K9 technology.
In March, Hanwha Aerospace also signed a binding memorandum of understanding (MOU) with Spanish defense company Indra Group for the modernization of self-propelled howitzers.
If this contract is confirmed to be linked to the K9 project, Hanwha Aerospace is expected to expand the operational area of the K9 from Eastern and Northern Europe to Western Europe.
* This article has been translated by AI.
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