Hyundai Rotem has succeeded in exporting its flagship K2 tank to Peru, marking the primary such sale to a Latin American nation.
Based on the federal government on Dec. 10, Hyundai Rotem and the Peruvian Military signed a complete settlement on tanks and armored autos on Dec. 9 (native time) on the Peruvian Military Headquarters positioned in Lima, Peru.
The settlement contains Peru’s Military procurement of 195 floor tools models by subsequent yr, consisting of 54 K2 tanks and 141 K808 wheeled armored autos “White Tiger.” Whereas the federal government and Hyundai Rotem didn’t particularly disclose the contract quantity, contemplating previous export unit costs, the ultimate contract scale is estimated to nicely exceed 2 trillion gained.
The K2 tank export to Peru marks the second nation after Poland, and this represents the primary entry into Latin America.
In the meantime, the order backlog of main South Korean protection corporations will surpass 100 trillion gained (roughly $68.15 billion) and attain 110 trillion gained this yr. As Okay-defense expands its footprint into Jap Europe, Latin America, and the Center East, South Korea is rising as a powerful “different possibility” after top-tier gamers comparable to america and Russia.
Based on the Monetary Supervisory Service’s digital disclosure system on Dec. 10, the mixed order backlog of the 5 main protection corporations – Hanwha Aerospace, Korea Aerospace Industries, LIG Nex1, Hyundai Rotem, and Hanwha Methods – totaled 99.67 trillion gained as of the top of September this yr. This represents a 47% enhance from 67.64 trillion gained in 2022, simply three years earlier.
Business expectations are rising that, because of continued sturdy Okay-defense order consumption within the fourth quarter, the backlog will exceed 100 trillion gained and will attain 110 trillion gained. Hyundai Rotem’s contract with Peru for K2 tanks and wheeled armored autos is valued at about 2.9 trillion gained. As soon as follow-on execution agreements are accomplished, the quantity might be added to Hyundai Rotem’s backlog.
As well as, Hanwha Aerospace, LIG Nex1, and Hanwha Methods signed a 1.23 trillion gained mass-production contract for the long-range surface-to-air missile (L-SAM) with the Protection Acquisition Program Administration final month. Korea Aerospace Industries additionally signed an 803.7 billion gained contract with the company for plane logistics assist. A protection business official stated, “As South Korean protection companies are being acknowledged for speedy supply and their means to provide merchandise custom-made to native wants, expectations are rising that Okay-defense will safe main tasks in Center Jap international locations comparable to Saudi Arabia and Iraq subsequent yr.”
