Hanwha Systems Enters Space Internet Market, What Are the Expected Benefits of Investing in OneWeb?

[Asia Economy Reporter Su-yeon Woo] Hanwha Systems has entered the space internet market, which is expected to grow into a 670 trillion KRW market, through its investment in the space company OneWeb. Not only is this a move into a new market, but synergy effects are also anticipated between Hanwha Systems' satellite antenna technology and OneWeb's space internet technology.

On the 12th, Hanwha Systems announced that it had decided to invest $300 million (345 billion KRW) in the space company OneWeb. Hanwha Systems described this investment as a strategic move that looks at both the present and future of space internet. Morgan Stanley projected the global space industry market size to reach $1.1 trillion (1,260 trillion KRW) by 2040, with more than $580 billion (670 trillion KRW) of that attributed to the space internet market.

OneWeb to Launch 34 Satellites Next Week... Targeting the 670 Trillion KRW Space Internet Market

OneWeb is the first company in the world to launch satellites for space internet, and by next year, it plans to complete its space internet network with 648 satellites, officially starting global space internet services. Eutelsat, one of the world's top three satellite communication companies, forecasts that OneWeb's annual revenue will reach $1 billion (approximately 1.15 trillion KRW) within 3 to 5 years after the full satellite deployment next year.

On the 20th, OneWeb plans to launch 34 low Earth orbit satellites at once. This will be OneWeb's 288th satellite. The company aims to complete the construction of the 'first-generation satellite network' by launching 648 satellites by next year and secure a leading position in the space internet market. So far, although global companies including Amazon have announced plans for space internet businesses using low Earth orbit satellites, only OneWeb and SpaceX have actually launched satellites.

Expecting Synergy Between OneWeb and Hanwha Satellite Technologies... "Small Satellite Market to Grow to 59 Trillion KRW Over 10 Years"

Hanwha Systems interprets this investment as securing favorable conditions in the fierce global space competition. OneWeb's major investors are primarily from the telecommunications sector. For Hanwha Systems, a satellite antenna technology company, this structure allows for expected business profits through participation in OneWeb's satellite and antenna development and manufacturing, as well as inter-satellite communication (ISL: Inter-Satellite Link) technology development projects.

The market for satellite and antenna manufacturing and launches to build space internet networks is also rapidly growing. Instead of large satellites (around 1,000 kg) in geostationary orbit (approximately 36,000 km altitude), demand for small satellites (100?200 kg) for low Earth orbit (500?2,000 km) space internet networks is sharply increasing. Euroconsult, a space market research firm, forecasts the small satellite market to grow to $51.3 billion (approximately 59 trillion KRW) over the next 10 years.

Hanwha Systems has developed its satellite development capabilities by being responsible for payloads and system development of multi-purpose practical satellites, next-generation medium satellites, and ultra-small SAR (Synthetic Aperture Radar) satellites developed under government leadership. Last year, it acquired the UK satellite antenna company Phasor Solutions and invested 33 billion KRW in the US portable antenna technology company Kymeta, securing electronic communication satellite antenna technology.

Kim Yeon-cheol, CEO of Hanwha Systems, emphasized, "We chose OneWeb because we judged that we could secure not only investment returns but also future profits through the expansion of space business. It is also significant as the first Korean company to officially enter the global new space market."

This content was produced with the assistance of AI translation services.