Hanwha Aerospace is South Korea’s largest defense contractor. On Thursday, the South Korean company beat Germany’s Rheinmetall for an Australian contract worth $4.74 billion.
The contract for 129 infantry fighting vehicles (IFVs) is one of the largest in Australian Army history. Hanwha will build the vehicles at their facilities in Australia’s Victoria state. The new IFVs will come equipped with modern armor, cannons, missiles, and mobility technology to replace the outdated 1964 M113 armored personnel carriers. Defence Industry Minister Pat Conroy noted that the Australian government will work to expedite this order, with the first vehicle delivery expected in 2027. Hanwha stated this deal will positively impact South Korean and Australian defense and economic cooperation going forward.
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