Hanwha Systems Co., a defense and information technology service unit of Hanwha Group, on Wednesday unveiled the mockup of its personal air vehicle (PAV), Butterfly, under development with US air taxi startup Overair.
During an air taxi event hosted by South Korea’s transport ministry and the Seoul city government at a riverside park in Yeouido to demonstrate urban air mobility (UAM), Hanwha Systems presented the mockup, a third the size of the actual Butterfly.
The mockup Hanwha Systems' Butterfly on display in Seoul at a Nov.11 public event In partnership with Overair, Hanwha is developing Butterfly as part of its efforts to advance into the global UAM market, which it says is expected to reach $1.5 trillion by 2040.
“We’ll contribute to laying the foundation for the future transportation environment based on our defense electronics and IT technology,” said Chief Executive Kim Youn-chul.
The company said it is seeking to establish a “verti-hub,” a city terminal for the takeoff and landing of air taxis, at Gimpo International Airport in western Seoul in cooperation with Korea Airports Corp.
Hanwha Systems' Buttterfly, a personal air vehicle under development with Overair The terminal, if built, will be the world’s first such facility for drone taxis, according to Hanwha Systems.
Flying cars are emerging as a future system of travel to avoid traffic jams on urban roads, and the Korean government aims to launch commercial services as early as 2025.
Write to Man-Su Choe at bebop@hankyung.com In-Soo Nam edited this article.
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