Hanwha Aerospace, a leading aerospace and defense company, has secured a significant contract to supply 129 Redback armored vehicles to the Australian Army. The Redback armored vehicle has been chosen as the preferred model of Infantry Fighting Vehicle (IFV) in the Australian Army's "Land 400 Phase 3 Project," which aims to replace the outdated American M113 armored vehicles. The contract, which is expected to be finalized in the second half of 2027, includes a comprehensive after-service contract worth approximately 24 billion Australian dollars (US$16 billion), with a total contract value of around 60 billion Australian dollars.
Hanwha Aerospace's success in winning the contract can be attributed to its meticulous export strategy. The company established its Australian subsidiary before the official announcement of the project by the Australian government and promptly submitted a project proposal. The Redback armored vehicle, specifically designed to meet the Australian Army's performance requirements, played a crucial role in securing the contract. Additionally, Hanwha Aerospace's commitment to building a factory in Geelong, the hometown and constituency of the Minister of Defense, Richard Marles, further strengthened its bid.
Hanwha Aerospace has been actively expanding its defense sector since acquiring a stake in Samsung Techwin, now known as Hanwha Vision, in 2015. The company changed its name to Hanwha Aerospace in 2017 and has since undergone several mergers and acquisitions, including the merger with Hanwha Defense and Hanwha Corporation Defense Division. These strategic moves have enabled the company to become a comprehensive defense company, expanding its business areas from aviation engines and space to firepower, mobility, air defense, unmanned systems, ammunition, guided weapons, and warships. The successful contract in Australia serves as proof of Hanwha Aerospace's technological capabilities, increasing the likelihood of winning orders in countries like Romania and Poland, which are also considering the introduction of the Redback armored vehicle.