Aerospace & Defense
Hanwha Systems wins $34.5 mn CMS order from Philippine Navy
The company will supply combat management systems, tactical data link to six 2,400-ton class offshore patrol vessels of Philippine
By May 12, 2023 (Gmt+09:00)
1
Min read
Most Read
LG Chem to sell water filter business to Glenwood PE for $692 million


Kyobo Life poised to buy Japan’s SBI Group-owned savings bank


KT&G eyes overseas M&A after rejecting activist fund's offer


StockX in merger talks with Naver’s online reseller Kream


Mirae Asset to be named Korea Post’s core real estate fund operator



South Korea's Hanwha Systems Co. revealed on Friday its bid to provide its domestically developed combat management system (CMS) to six 2,400-ton class offshore patrol vessels (OPVs) commissioned by the Philippines. The lucrative export contract, valued at $29.5 million (39 billion won), bolsters Hanwha Systems' standing in the global defense market.
In a noteworthy addition to the deal, the tactical data link (TDL), a cutting-edge digital communications system enabling real-time sharing and dissemination of tactical information, will also be supplied for an additional $5 million (6.6 billion won). Consequently, the comprehensive contract's total value reaches an impressive $34.5 million (45.6 billion won).
This agreement solidifies Hanwha Systems' position as the primary CMS provider for a total of 13 Philippine naval vessels. Building on the company's previous achievements, which included exporting domestically developed combat systems to two Philippine Coast Guard (PCC) vessels last year, the contract encompasses the combat system projects for two 2,600-ton class Philippine frigates contracted in 2017 and the performance improvement project for three Philippine patrol vessels contracted in 2019. Notably, this marks the fourth successful export to the Philippine Navy by Hanwha Systems.
Looking ahead, Hanwha Systems has ambitious plans to actively engage in the Philippine Navy's modernization efforts, with a specific focus on forthcoming projects involving submarines, high-speed crafts and large landing ships (LPDs). This strategic move aligns with the Philippines' intensified drive to bolster its naval capabilities amidst escalating territorial disputes in the South China Sea and heightened military tensions in the Western Pacific region.
"Our company stands alone as the domestic leader capable of equipping exported vessels with combat systems that match the technological maturity of advanced countries," Hanwha Systems CEO Eoh Sungchul said. "We will leverage our competitive edge in the Korean defense industry, aiming to expand exports not only to Southeast Asia but also to the Middle East and Latin America."
Write to Hyung-Kyu Kim at khk@hankyung.com
More to Read
-
Aerospace & DefenseHanwha Systems tests AESA radar system for Korean fighter jet
Mar 06, 2023 (Gmt+09:00)
1 Min read -
Aerospace & DefenseHanwha Systems begins developing active protection system for combat vehicles
Mar 03, 2023 (Gmt+09:00)
1 Min read -
Aerospace & DefenseHanwha Systems completes training center for Philippine Navy
Dec 02, 2022 (Gmt+09:00)
1 Min read
Comment 0
LOG IN