Home / Business and Economy / Norway Signs $922M Deal for Hanwha Rockets
Norway Signs $922M Deal for Hanwha Rockets
2 Feb
Summary
- Hanwha Aerospace secured a $922 million contract for Norwegian artillery systems.
- Norway is acquiring 16 Chunmoo launch systems and unspecified rockets.
- Hanwha's fast delivery capability offers a competitive edge for Norway's needs.
South Korean defense company Hanwha Aerospace has finalized a contract valued at approximately $922 million to supply Norway with advanced long-range artillery systems and rockets. This agreement is part of a larger Norwegian defense procurement totaling $2 billion for 16 Chunmoo launch systems and an undisclosed quantity of rockets.
Analysts note that despite political pressures for European arms purchases, Hanwha's Chunmoo system offers a critical advantage: significantly faster delivery times and greater flexibility to meet specific operational requirements, including those for Norway's challenging arctic climate.
The contract includes the provision of launchers and rockets, with the remaining funds allocated for establishing local support infrastructure such as maintenance facilities and training programs. This strategic move aims to ensure long-term operational readiness and support for the new artillery systems within Norway.
Hanwha Aerospace is also expanding its European presence by establishing a production facility in Poland for guided rockets, with deliveries slated to commence in 2030. This initiative is expected to boost European exports of the Chunmoo system, further solidifying Hanwha's position as a leading global defense supplier. Previous international clients for the Chunmoo system include Poland and Estonia, highlighting its proven effectiveness and reliability on the international stage.
