Hanwha Aerospace's Global Bold Move in Urban Air Mobility Business

Long-term Supply Contract of 220 Billion KRW Electric Actuators with UK Vertical Company
Development of Battery-based Electric Propulsion System with US Overair Company

Shin Hyun-woo, President of Hanwha Aerospace (left), signed a memorandum of understanding for joint cooperation with Michael Servenka, President of Vertical Aerospace, at the Farnborough Airshow held in London, UK, on the 20th of last month (local time), and they are taking a commemorative photo in front of Vertical's VX4 aircraft.

[Asia Economy Reporter Oh Hyung-gil] Hanwha Aerospace is accelerating its urban air mobility (UAM) business, considered the next-generation transportation mode.

Hanwha Aerospace announced on the 23rd that it has signed a long-term development and supply contract worth approximately $165 million (about 220 billion KRW) with the UK-based Vertical Aerospace (hereinafter Vertical) for electric actuators for electric vertical takeoff and landing (eVTOL) aircraft.

Electric actuators are driving devices that control various mechanical operations of UAM using rotational power from electric motors.

Under this contract, Hanwha Aerospace will exclusively supply three types of electric actuators to be applied to Vertical's 4-seat air taxi 'VX4,' which is being developed with a commercialization target of 2025, from 2025 to 2035.

Additionally, by developing and supplying electric actuators optimized for the VX4, Hanwha Aerospace plans to obtain airframe certification required for eVTOL aircraft from the UK Civil Aviation Authority or the European Union Aviation Safety Agency, and establish mass production and supply systems.

The two companies signed a memorandum of understanding for joint development and partnership of electric actuators for eVTOL at the Farnborough Airshow held in London last month.

Furthermore, Hanwha Aerospace has also signed a development contract with the US-based Overair for a battery-based electric propulsion system that serves as the engine for UAM aircraft. The battery packs and motors, key components of the eco-friendly powertrain for UAM, will be supplied to Overair by next year.

This system will be installed on Overair's air taxi prototype (XP-1), and after performance verification, it will be applied to Overair's UAM aircraft 'Butterfly.'

Hanwha Aerospace also participated in a Series B investment worth $115 million (about 144 billion KRW) conducted by Hanwha Systems and Overair in June.

A Hanwha Aerospace official stated, "Based on our extensive technological expertise accumulated in various aerospace engines and drive fields including aircraft and fighter jets, we will grow into a leading technology company in the future mobility sector through eco-friendly UAM powertrain businesses such as electric propulsion systems and electric actuators."

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