Hanwha Aerospace Company Profile, Products, Employees and Revenue
Hanwha Aerospace is a South Korean defence and aerospace company based in Seoul that makes the K9 Thunder self-propelled howitzer, the K239 Chunmoo rocket launcher, the Redback infantry fighting vehicle and aircraft engines. It is listed on the Korea Exchange (012450) and belongs to the Hanwha Group, alongside separate affiliates Hanwha Ocean and Hanwha Systems.
The company reported consolidated sales of 26.61 trillion won (about $18.2 billion) and operating profit of 3.03 trillion won for 2025, its third straight record year, according to the Korea JoongAng Daily. Its ground defence division alone held an order backlog of about 37.2 trillion won at the end of 2025. Main customers are the South Korean military and export buyers in Poland, Romania, Australia, Norway, Estonia and other countries.
What Does Hanwha Aerospace Do?
Hanwha Aerospace builds land weapons, aircraft engines and related industrial equipment. Its land systems business covers artillery, rocket launchers, armoured vehicles and air defence guns, while its aerospace business makes engines and engine parts for aircraft and rockets. Wikipedia also lists power systems, security and IT services among its segments.
| Item | Detail |
|---|---|
| Headquarters | Seoul, South Korea |
| Founded | 1 August 1977, as Samsung Precision Industry |
| Former names | Samsung Aerospace (1987), Samsung Techwin (2000), Hanwha Techwin (2015), Hanwha Aerospace (2018) |
| Chief executive | Son Jae-il (Wikipedia) |
| Listing | Korea Exchange, ticker 012450 |
| Employees | 3,704 (2024, Wikipedia); GlobalData gives 4,407 |
| Sales | 26.61 trillion won (2025, consolidated) |
| Operating profit | 3.03 trillion won (2025, consolidated) |
| Main shareholders | Hanwha Corporation 33.99%; National Pension Service 7.56% (Wikipedia) |
| Known products | K9 Thunder, K10, K239 Chunmoo, K21, Redback, aircraft and rocket engines |
Which Hanwha Company Is Which?
Hanwha is a large South Korean conglomerate, and several of its defence businesses have similar names. The three that most often get mixed up are separate listed companies. This article covers Hanwha Aerospace only.
| Company | Focus | Relationship |
|---|---|---|
| Hanwha Aerospace | Land weapons (K9, Chunmoo, Redback), aircraft and rocket engines | Subject of this article. About 34% owned by Hanwha Corporation |
| Hanwha Ocean | Warships, submarines and commercial shipbuilding; formerly Daewoo Shipbuilding and Marine Engineering | Separate listed shipbuilder. Hanwha Aerospace raised its stake from 23.14% to 30.4% in March 2025 (KED Global) |
| Hanwha Systems | Radars, electronics, command systems, satellite and software business | Separate listed company, formed in 2015 from Samsung Thales and Hanwha defence electronics; held 11.57% of Hanwha Ocean in early 2025 |
| Hanwha Corporation | Holding company and parent of Hanwha Aerospace | Largest shareholder of Hanwha Aerospace |
The distinction matters in the news. Thailand’s frigate choice in September 2026 went to Hanwha Ocean’s OCEAN-40F, a shipbuilder product, whereas the K9 and Chunmoo exports are Hanwha Aerospace deals. Reports on Hanwha Aerospace’s results also refer to Hanwha Ocean and Hanwha Systems as segments, which suggests they are included in its consolidated accounts. The company’s own filings should be checked for how each is treated.
How Many Employees Does Hanwha Aerospace Have?
Wikipedia lists 3,704 employees for 2024, and GlobalData reports 4,407. Both figures look low for a group with 26.6 trillion won in sales. This article treats that as analysis rather than fact, but it is likely the numbers reflect the parent company only and leave out subsidiaries, overseas units and consolidated affiliates. The company’s annual report gives the authoritative breakdown.
Hanwha Aerospace Revenue and Financial Results
| Period | Sales | Operating profit | Notes |
|---|---|---|---|
| 2025 | 26.61 trillion won (+136.7%) | 3.03 trillion won (+75.2%) | Third consecutive record year |
| 2025, ground defence | — | 2.01 trillion won | First time above 2 trillion won; backlog about 37.2 trillion won |
| 2025, aerospace | — | 2.3 billion won | Back in profit |
| 2025, Hanwha Ocean | — | 1.11 trillion won | Reported by JoongAng within the results |
| Q2 2026 | About 9.29 trillion won (+47%) | 1.365 trillion won (+59%) | Net profit about 1.08 trillion won |
| H1 2026 | 15.04 trillion won | — | Total assets 58.7 trillion won |
The 2025 growth rate of 136.7% partly reflects the addition of consolidated affiliates. Wikipedia’s listing of 22.5 trillion won for 2024 does not match the roughly 11.2 trillion won implied by the JoongAng growth rate, so 2024 is left out of the table.
What Are Hanwha Aerospace’s Main Products?
| Product | Type | Key facts |
|---|---|---|
| K9 Thunder / K10 | 155 mm self-propelled howitzer and resupply vehicle | About 1,900 K9 built as of 2025 and a 52% share of the global self-propelled howitzer market since 2000, per Wikipedia |
| K239 Chunmoo | Multiple rocket launcher | Operated by South Korea, Poland, Estonia and Middle East customers; UAE already has 12 |
| Redback (AS-21) | Infantry fighting vehicle | Chosen for Australia’s LAND 400 Phase 3; 129 vehicles |
| L-SAM | Long-range surface-to-air missile | Co-developed with Hanwha Systems; a 705.4 billion won deal reported in 2025 |
| Cheongeom | Air-launched anti-tank missile | 225.4 billion won contract reported |
| Aircraft engines | GTF engine parts, unmanned engines | Turbofan and turboprop prototypes for unmanned aircraft unveiled 7 July 2026 |
Which Countries Buy From Hanwha Aerospace?
| Country | Deal | Details |
|---|---|---|
| Poland | K9 howitzers and K239 Chunmoo | About 8 trillion won ($6.2 billion) deal for K9 and 300 Chunmoo launchers |
| Romania | 54 K9 and 36 K10 | Signed 9 July 2024, about $1 billion; first delivery by early 2027; local firm Hanwha Aerospace Romania set up October 2024 |
| Australia | Redback and K9 | 129 Redback vehicles, A$5 to 7 billion, built in Geelong; 30 K9 and 15 K10 in a 933 billion won deal in 2021 |
| Norway | K9 and K10 | 28 K9 and 14 K10 from a 2022 order; Chunmoo contract also reported |
| Estonia | Chunmoo | Six launchers in December 2025, three more later |
| Croatia | 18 K239 Chunmoo | About 435 million euros, signed 2026 |
| UAE | L-SAM, M-SAM, Chunmoo | Term sheet on 16 September 2026, not a binding contract |
Romania is the site of Hanwha’s first local European production plan, according to EDR Magazine. Poland’s K9 line is meant to be a second. Australia’s Redback order was reported by Australian Manufacturing.
Recent Contracts and Developments
Several 2026 stories show the company’s reach. In Europe, Croatia signed for 18 K239 Chunmoo launchers worth about 435 million euros. In the Gulf, the UAE agreed a term sheet with Hanwha on a layered air defence programme signed on the Hanwha side by Hanwha Systems. Poland’s purchases from South Korea also feature in our coverage of the first K2 tank deliveries, although the K2 is built by Hyundai Rotem, not Hanwha.
On the naval side, the affiliate Hanwha Ocean was picked as preferred bidder for Thailand’s frigate in a roughly $508 million OCEAN-40F selection. That is a Hanwha Ocean deal and should not be counted as Hanwha Aerospace revenue.
Hanwha Aerospace History Timeline
| Year | Event |
|---|---|
| 1977 | Founded as Samsung Precision Industry |
| 1987 | Renamed Samsung Aerospace |
| 2000 | Renamed Samsung Techwin |
| 2015 | Acquired by Hanwha and renamed Hanwha Techwin |
| 2018 | Renamed Hanwha Aerospace |
| 2022 | Hanwha Group moves to take control of Daewoo Shipbuilding and Marine Engineering, later Hanwha Ocean |
| 2024 | Romania K9 contract; Redback and Poland programmes advance |
| 2025 | Record sales of 26.61 trillion won; stake in Hanwha Ocean raised to 30.4% |
| 2026 | Croatia Chunmoo, UAE term sheet and unmanned engine prototypes |
Hanwha Aerospace FAQ
What does Hanwha Aerospace make?
It makes the K9 Thunder howitzer, K239 Chunmoo rocket launchers, Redback infantry fighting vehicles, aircraft engines and rocket engines.
Is Hanwha Aerospace the same as Hanwha Ocean?
No. Hanwha Ocean is a separate listed shipbuilder, formerly Daewoo Shipbuilding and Marine Engineering, in which Hanwha Aerospace holds a stake of 30.4% as of March 2025.
Is Hanwha Aerospace the same as Hanwha Systems?
No. Hanwha Systems is a separate listed company focused on defence electronics, radars, satellites and software.
How many employees does Hanwha Aerospace have?
Wikipedia lists 3,704 for 2024 and GlobalData 4,407. The figures likely leave out subsidiaries.
What was Hanwha Aerospace revenue in 2025?
Consolidated sales of 26.61 trillion won and operating profit of 3.03 trillion won, per the Korea JoongAng Daily.
Who owns Hanwha Aerospace?
Hanwha Corporation holds 33.99% and the National Pension Service 7.56%, according to Wikipedia.
Which countries buy the K9 Thunder?
Operators include South Korea, Poland, India, Finland, Norway, Australia, Egypt, Romania, Vietnam and Estonia, per Wikipedia.
- Korea JoongAng Daily – Hanwha Aerospace, HD HHI log record revenue: koreajoongangdaily.com
- Quartr – Hanwha Aerospace Q2 2026 earnings summary: quartr.com
- KED Global – Hanwha Aerospace ups stake in Hanwha Ocean: kedglobal.com
- EDR Magazine – Romania K9 and K10 contract: edrmagazine.eu
- Australian Manufacturing – Hanwha wins Australian IFV contract: australianmanufacturing.com.au
- Wikipedia – Hanwha Aerospace and K9 Thunder
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