Hanwha Aerospace, LG Nex1, and KAI are increasing their investment in the 16 trillion won drone business
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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stockmk2020@alphabiz.co.kr | 2023-03-03 06:34:28
[Alpha Biz=(Chicago) Reporter Kim Jisun] Hanwha Aerospace, LG Nex1, and KAI are increasing their investment in the 16 trillion won drone business
According to the defense industry on the 2nd, Hanwha Aerospace, LiG Nex1, and Korea Aerospace Industries (KAI) are increasing their investment in drones. Not only can it protect national security, but the market size is also growing. According to Precision Research, a global market research firm, the drone response market, which was $ 1.4 billion (about 1.85 trillion won) in 2021, is expected to grow to $ 12.6 billion (about 16.66 trillion won) by 2030. The average annual growth rate is estimated to reach 27.65%.
Hanwha Aerospace has joined hands with Lockheed Martin of the United States to make a big investment. It has invested $ 17.8 million (about 23.5 billion won) in Fortem Technologies through a conditional equity acquisition agreement (SAFE). Fortem Technologies is a radar equipped with artificial intelligence (AI) software and has a system to capture nets by detecting illegal drones and launching autonomous drones.
LIG Nex1 has also entered the development of a drone response system. The Defense Acquisition Program Administration has launched a "Korean-style Jammer" development project that will invest 24.4 billion won by January 2026. Jammer refers to a device that interferes with and restricts communication and radar systems.
KAI has not entered the drone response market in earnest, but is leading the development of unmanned aerial vehicle technology. In December last year, it signed an agreement with the Agency for Defense Technology Promotion to develop a 'small modular unmanned aerial vehicle'.
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