Hanwha Systems "Global Aerospace Companies and UAM Supply Chain Alliance"

US Leading Militech Company Honeywell
Signs Agreement with Europe's Largest Aerospace Defense Firm French Safran

Mike Madson, President of Honeywell Aerospace, and Eo Seong-cheol, CEO of Hanwha Systems, pose for a commemorative photo after signing a business agreement at the Farnborough Airshow in the UK on the 19th (local time). (Photo by Hanwha Systems)

[Asia Economy Reporter Moon Chaeseok] Hanwha Systems announced on the 21st that it will concretize its urban air mobility (UAM) business model together with global major players in the aerospace industry.

Hanwha Systems revealed that on the 19th (local time), at the Farnborough Airshow in the UK, it signed a strategic memorandum of understanding (MOU) with American defense and aerospace company Honeywell for the joint development of a future aircraft (AAV) system. Honeywell is a global leading miltech company included in the Dow Jones index composed of 30 representative American companies since 2020.

Hanwha Systems and Honeywell agreed to collaborate on the first-generation aircraft currently under development, the electric vertical takeoff and landing aircraft (eVTOL), and the second and third-generation future aircraft (AAV) capable of autonomous flight and long-duration flight for UAM utilization. The two companies will promote cooperation in the fields of 2nd and 3rd generation AAVs, hybrid electric propulsion systems, discovering new services in domestic and international markets, and creating demand.

On the 20th, Hanwha Systems, together with Hanwha Aerospace, signed a multilateral memorandum of understanding (MOU) with the French Safran Group, a leading European aerospace and defense company, to strengthen all-around business cooperation from military and civilian sectors to future space and mobility industries.

Hanwha Aerospace, Hanwha Systems, and Safran agreed to actively explore mutually cooperative businesses in areas essential for expanding the UAM market, such as low-earth orbit satellite communication services, propulsion systems with economic efficiency and performance, and satellite launch services. The three companies plan to form a joint working group to further specify cooperation in the aerospace industry sector.

Yoo Dongwan, head of Hanwha Systems' UAM division, said, "Hanwha Systems is focusing all its capabilities on aircraft development, vertiport, and traffic management service development to secure a leading position in the global UAM value chain. We aim to discover new convergent business opportunities in the UAM market by leveraging the strengths of global major players in the aerospace industry."

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