Hanwha Systems Betting on the 'Future Food' Aviation and Aerospace Industry

[Asia Economy Reporter Su-yeon Woo] Hanwha Systems has recently expressed ambitious aspirations to lead the future aerospace industry through bold investments. The company aims to lead the domestic and international aerospace industry by expanding investments in new businesses such as frequency acquisition, antenna development, and Urban Air Mobility (UAM).

According to the industry on the 21st, last month Hanwha Systems invested $300 million (KRW 345 billion) in the space internet company OneWeb and joined its board of directors. OneWeb operates the 'space internet' business by launching numerous satellites in low Earth orbit to provide ultra-high-speed internet worldwide, and it was the first company in the world to successfully launch satellites for space internet in 2019.

To build a space internet network, the demand for low Earth orbit small satellites is expected to increase rapidly. Hanwha Systems, which possesses satellite antenna technology, is participating in OneWeb's satellite and antenna development and manufacturing, as well as satellite communication technology development projects, creating a structure that can generate profits.

With this, Hanwha Systems has officially entered the private-led space business (New Space) through its investment in OneWeb shares, and it is expected to strengthen its role as the 'Space Hub,' the control tower for space business within the Hanwha Group.

Hanwha Systems' air taxi 'Butterfly' jointly developed with Overair / Photo by Hanwha Systems

Meanwhile, Hanwha Systems is also showing prominence in the future aviation and service sectors, not just space business. Early on, Hanwha Systems made an equity investment in the U.S. company Overair in 2019 and is jointly developing an air taxi aircraft.

Hanwha Systems' sensor, radar, communication, and avionics technologies, combined with Overair's unique energy-saving flight technology, have been applied to the 'Butterfly,' an electric vertical takeoff and landing (e-VTOL) aircraft equipped with four tilt rotors. It boasts a high level of safety and reliability.

The Butterfly tilt rotors differ from conventional helicopters in that four large rotors are mounted on the front and rear wings. This allows vertical use during takeoff and horizontal use during flight by changing direction, enabling long-duration flights with less energy. It can be fast-charged in as little as 10 minutes and can travel at a maximum speed of 320 km/h, making it possible to travel from Seoul to Incheon in about 20 minutes. It can carry one pilot, four passengers, and luggage, and when remote control becomes available in the future, it is expected to accommodate up to five passengers.

Jaegwang Lee, a researcher at Mirae Asset Securities, said, "Industries such as low Earth orbit satellite communication and UAM aircraft development are difficult for a single company to handle alone. Hanwha Systems has secured a favorable position for future business development by holding voting rights on the board through investments in leading companies in each industry."

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