Hanwha Aerospace’s order backlog surpasses record $22 bn

K9 self-propelled howitzer. [Photo by Yonhap]

South Korea’s Hanwha Aerospace Co. has seen its order backlog surpass 30 trillion won ($22 billion) as of the second quarter of this year on the back of robust overseas sales.

The company announced on Wednesday that its order backlog in the ground defense sector stood at 30.3 trillion won as of the second quarter, up 8.6 percent from the 27.9 trillion won at the end of last year.

The rise in order backlog has been led by robust exports.

After signing a framework agreement with the Armed Forces of the Republic of Poland in 2022 for the exports of 672 K9 self-propelled howitzers and 290 K239 Chunmoo, the company’s order book expanded significantly with a series of follow-up contracts for weapon supplies.

The order backlog is expected to keep rising, as the company is also drawing interest from countries in Europe and the Middle East for its fifth-generation infantry fighting vehicle (IFV), the Red Back, following its successful export to the Australian army last year.