Onion
July 19, 2026
🔥 Hanwha Aero, Critical Point in 10 Trillion Won 'US Self-Propelled Howitzer' Bid - 2026.07.19
Look at this—the market is holding its breath. A critical moment that will decide Hanwha Aerospace's fate has arrived. It is the US next-generation Mobile Tactical Cannon (MTC) modernization project, estimated at 10 trillion won. [1] With the K9 self-propelled howitzer at the forefront, Hanwha is considered a strong candidate for selection as the contractor to perform prototype production and testing/evaluation to replace the US Army's M777 towed howitzers. [2] The outcome of the bid is expected to take shape this week, and it is seen as an opportunity for the K9 to meet NATO standards and pass through a crucial gateway into the US market. [1]
🚀 10 Trillion Won 'US Self-Propelled Howitzer' Project, the Critical Point
Hanwha, which failed to overcome the 'Buy European' policy barriers in the European market, is now putting the US market to the test. [3] For Hanwha Aerospace, which has faced limitations in exporting to non-NATO countries, winning the US contract could be a breakthrough for the second half of the year. [4] As the US Army is expected to announce details regarding the next-generation self-propelled howitzer this month, market attention is focused. [5]
📈 Q2 Earnings, Nearing 1 Trillion Won
In terms of performance, things are sailing smoothly. Hanwha Aerospace's operating profit for the second quarter of this year is projected to reach nearly 1 trillion won. [6] This is expected to fill the gap in Hanwha Ocean's defense business and suggests that the trend of strong performance due to increased defense demand is continuing. [6] The combined Q2 operating profit consensus for Korea's four major defense companies is 1.4684 trillion won, raising expectations for a trillion-won-level surplus. [7]
🤖 Multi-purpose Unmanned Ground Vehicle, Expectations for Additional Orders
A new achievement has also emerged in the land defense sector. Hanwha Aerospace has been finally selected as the contractor for the 'Multi-purpose Unmanned Ground Vehicle' project, which the Army and Marine Corps have been pushing to introduce. [8] This contract, won after competing with Hyundai Rotem, is evaluated as a significant achievement that proves the company's capability in unmanned system development and order acquisition. [9]
💡 Onion's Perspective
Hanwha Group is accelerating the integration of its defense division by internalizing fixed-wing and rotary-wing aircraft manufacturing capabilities through the acquisition of Korea Aerospace Industries (KAI). [10] Defense stocks, which have recently underperformed compared to the KOSPI, are gaining attention for a potential rebound due to expectations of large contracts in the second half. [11] While some analyze that stock prices might react too late once an order is officially announced, the 10 trillion won US bid is a major variable that could shift market sentiment.
Onion believes that the success or failure of the US bid will be the key to stock price trends in the second half. [1]
Interest rates dropped? If rates drop, stock prices should go up; do dropped rates just go back up? This is no joke. [11] Aggressive investors should react most quickly to macro tailwinds. Whether Hanwha Aerospace succeeds in its US expansion is the key to a bullish scenario.
📰 Reference News (11)
Will Hanwha's K9 Break Through the 'NATO Wall'? 10 Trillion Won 'US Self-Propelled Howitzer Project' to Take Shape This Week - v.daum.net
v.daum.net · 2026.07.19
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Hanwha Aero, with 'K9 Next-Gen Model' at the Forefront, 10 Trillion Won 'US Army Self-Propelled Howitzer' Modernization Project...
네이버뉴스 · 2026.07.19
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Hanwha Failed to Overcome 'Buy European'... Now the US is the Testing Ground - Asia Today
아시아투데이 · 2026.07.19
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Hanwha Aero Faces 'Non-NATO Limitation Theory' Amid Smooth Earnings; What is the Breakthrough for H2? - Seoul Finance
서울파이낸스 · 2026.07.18
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Hanwha K9
네이버뉴스 · 2026.07.19
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Hanwha Aero's Q2 Operating Profit Likely to Approach 1 Trillion Won... Fills Gap in Hanwha Ocean's Defense - Yonhap Infomax
연합인포맥스 · 2026.07.19
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They Said K-Defense is Doing Well... Q2 Operating Profit Revealed, Who Will Win the 'Large-Scale Bidding War' in H2? [Military+]
네이버뉴스 · 2026.07.19
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Hanwha Aero Selected as Contractor for 'Multi-purpose Unmanned Ground Vehicle'
네이버뉴스 · 2026.07.18
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Hanwha Aero Selected as Contractor for 'Multi-purpose Unmanned Ground Vehicle' - KBS News
KBS 뉴스 · 2026.07.18
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Hanwha Group's Defense Division Accelerates KAI Acquisition...
네이버뉴스 · 2026.07.19
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"It's Too Late Once the Order is Announced"... Corrected K-Defense, Expectations for H2 Rebound - EBN News Center
네이버뉴스 · 2026.07.18
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