The Hanwha group has confirmed plans to merge its defence businesses including Hanwha Defense, which produces the Redback infantry fighting vehicle (pictured above). (Hanwha Defense)

Hanwha Aerospace has announced a merger of the Hanwha group's defence businesses as part of plans to become ‘a Korean Lockheed Martin'.

In a 29 July press release, Hanwha Aerospace said it will acquire the defence business of the Hanwha Corporation and also absorb its wholly owned affiliate Hanwha Defense. Hanwha Aerospace is also the parent of Hanwha Systems, which makes defence electronics including radars.

A spokesperson from Hanwha Aerospace told Janes that Hanwha Systems is not included in the terms of the merger and that Hanwha Systems will remain a Hanwha Aerospace subsidiary.

The press release said, “This [merger] will create synergies across land, sea, air, and space technologies and expand exports. Through this transaction, Hanwha Aerospace aims to become a ‘top 10' defence manufacturer by 2030,” the press release stated. “We plan to create a ‘Korean Lockheed Martin' by increasing the size of the company and diversifying its products.”

The Hanwha group has confirmed plans to merge its defence businesses including Hanwha Defense, which produces the Redback infantry fighting vehicle (pictured above). (Hanwha Defense)

Hanwha Aerospace has announced a merger of the Hanwha group's defence businesses as part of plans to become ‘a Korean Lockheed Martin'.

In a 29 July press release, Hanwha Aerospace said it will acquire the defence business of the Hanwha Corporation and also absorb its wholly owned affiliate Hanwha Defense. Hanwha Aerospace is also the parent of Hanwha Systems, which makes defence electronics including radars.

A spokesperson from Hanwha Aerospace told Janes that Hanwha Systems is not included in the terms of the merger and that Hanwha Systems will remain a Hanwha Aerospace subsidiary.

The press release said, “This [merger] will create synergies across land, sea, air, and space technologies and expand exports. Through this transaction, Hanwha Aerospace aims to become a ‘top 10' defence manufacturer by 2030,” the press release stated. “We plan to create a ‘Korean Lockheed Martin' by increasing the size of the company and diversifying its products.”

The Hanwha group has confirmed plans to merge its defence businesses including Hanwha Defense, which produces the Redback infantry fighting vehicle (pictured above). (Hanwha Defense)

Hanwha Aerospace has announced a merger of the Hanwha group's defence businesses as part of plans to become ‘a Korean Lockheed Martin'.

In a 29 July press release, Hanwha Aerospace said it will acquire the defence business of the Hanwha Corporation and also absorb its wholly owned affiliate Hanwha Defense. Hanwha Aerospace is also the parent of Hanwha Systems, which makes defence electronics including radars.

A spokesperson from Hanwha Aerospace told Janes that Hanwha Systems is not included in the terms of the merger and that Hanwha Systems will remain a Hanwha Aerospace subsidiary.

The press release said, “This [merger] will create synergies across land, sea, air, and space technologies and expand exports. Through this transaction, Hanwha Aerospace aims to become a ‘top 10' defence manufacturer by 2030,” the press release stated. “We plan to create a ‘Korean Lockheed Martin' by increasing the size of the company and diversifying its products.”

The Hanwha group has confirmed plans to merge its defence businesses including Hanwha Defense, which produces the Redback infantry fighting vehicle (pictured above). (Hanwha Defense)

Hanwha Aerospace has announced a merger of the Hanwha group's defence businesses as part of plans to become ‘a Korean Lockheed Martin'.

In a 29 July press release, Hanwha Aerospace said it will acquire the defence business of the Hanwha Corporation and also absorb its wholly owned affiliate Hanwha Defense. Hanwha Aerospace is also the parent of Hanwha Systems, which makes defence electronics including radars.

A spokesperson from Hanwha Aerospace told Janes that Hanwha Systems is not included in the terms of the merger and that Hanwha Systems will remain a Hanwha Aerospace subsidiary.

The press release said, “This [merger] will create synergies across land, sea, air, and space technologies and expand exports. Through this transaction, Hanwha Aerospace aims to become a ‘top 10' defence manufacturer by 2030,” the press release stated. “We plan to create a ‘Korean Lockheed Martin' by increasing the size of the company and diversifying its products.”

The Hanwha group has confirmed plans to merge its defence businesses including Hanwha Defense, which produces the Redback infantry fighting vehicle (pictured above). (Hanwha Defense)

Hanwha Aerospace has announced a merger of the Hanwha group's defence businesses as part of plans to become ‘a Korean Lockheed Martin'.

In a 29 July press release, Hanwha Aerospace said it will acquire the defence business of the Hanwha Corporation and also absorb its wholly owned affiliate Hanwha Defense. Hanwha Aerospace is also the parent of Hanwha Systems, which makes defence electronics including radars.

A spokesperson from Hanwha Aerospace told Janes that Hanwha Systems is not included in the terms of the merger and that Hanwha Systems will remain a Hanwha Aerospace subsidiary.

The press release said, “This [merger] will create synergies across land, sea, air, and space technologies and expand exports. Through this transaction, Hanwha Aerospace aims to become a ‘top 10' defence manufacturer by 2030,” the press release stated. “We plan to create a ‘Korean Lockheed Martin' by increasing the size of the company and diversifying its products.”

The Hanwha group has confirmed plans to merge its defence businesses including Hanwha Defense, which produces the Redback infantry fighting vehicle (pictured above). (Hanwha Defense)

Hanwha Aerospace has announced a merger of the Hanwha group's defence businesses as part of plans to become ‘a Korean Lockheed Martin'.

In a 29 July press release, Hanwha Aerospace said it will acquire the defence business of the Hanwha Corporation and also absorb its wholly owned affiliate Hanwha Defense. Hanwha Aerospace is also the parent of Hanwha Systems, which makes defence electronics including radars.

A spokesperson from Hanwha Aerospace told Janes that Hanwha Systems is not included in the terms of the merger and that Hanwha Systems will remain a Hanwha Aerospace subsidiary.

The press release said, “This [merger] will create synergies across land, sea, air, and space technologies and expand exports. Through this transaction, Hanwha Aerospace aims to become a ‘top 10' defence manufacturer by 2030,” the press release stated. “We plan to create a ‘Korean Lockheed Martin' by increasing the size of the company and diversifying its products.”