Hyundai Heavy : To receive orders from Australian/Canadian Navy
・Partnership agreement with GE Aerospace/L3Harris
・Australia will invest 32 trillion yen in defense over the next 10 years
We will provide you with a summary of articles published in JoongAng Ilbo.
Hyundai Heavy in Korea:
1. Partnering with GE Aerospace to win Australian Navy general purpose frigate order
2. Partnership with L3Harris for Canadian Navy submarine order battle
it has teamed up with Palantir to develop unmanned water vehicles.
Hyundai Heavy ’ KSS-III submarine:
On April 4, the third KSS-III/Batch I (submarine) was handed over to the South Korean Navy.
Eight countries participate in the handover ceremony:
The following countries are considering introducing KSS-III: South Korea.
Canada, the Philippines, Poland, Peru, Colombia, Ecuador and Australia participated in the ceremony.
The United States is also considering MRO business with South Korea. Government officials attended the ceremony.
Hyundai Heavy and GE Aerospace:
At Sea Air Space 2024, an agreement was reached on “joint development of a propulsion system optimized for export ships”,
GE Aerospace will supply gas turbines for the KSS-III submarines.
1. We will also cooperate in developing MRO business for ships destined for export.
2. I want to acquire Australia’s next general-purpose frigate.
Hyundai Heavy and L3Harris:
The two companies agreed to cooperate in the submarine project for the Canadian Navy.
Hanwha Ocean and Babcock:
Hanwha has already partnered with Babcock to win orders from the Canadian Navy.
Hyundai Heavy Industries and Hanwha Ocean are competing to sell KSS-III.
Hyundai Heavy and Palantir:
Palantir Technologies’ customers include the US Army and US Navy.
1. Agreement on joint development of armed surface unmanned vehicle (USV)
2. I want to install AI software developed by Avikus/Palantir on USV.
Australia: Investing in national defense over the next 10 years, with the biggest reinforcement being the navy
Australian Defense Minister Marles:
April 17th: “We will increase defense spending by 50.3 billion Australian dollars (32 billion dollars = 5 trillion yen) over the next 10 years.
1. Defense spending by 2034 is expected to be 330 billion Australian dollars = 32 trillion yen.
2. Defense spending as a percentage of GDP increases from 2.0% to 2.4%
Up to A$145 billion will be invested in strengthening the navy.
Investments over the next 10 years:
The navy will receive the most benefits.
1. Of the A$330 billion, A$145 billion (40%) will be spent on the Navy.
The funds will be allocated to acquisition of nuclear submarines, Ghost Shark (unmanned underwater vehicle), etc.
2. Up to A$74 billion (20%) will be spent on missile-related projects.
It will be allocated to long-range missiles for the Air Force and Army.
Active trends in Korean companies:
Foreign companies are eyeing funding to upgrade Australia’s surface fleet.
Hyundai Heavy Industries partners with GE Aerospace for general purpose frigate order.
Hanwha is also moving to acquire Austal.