en.Wedoany.com Reported - Huneed Technologies' aviation business order backlog has expanded to approximately $250 million, and the global defense and aviation specialist expects to enter a formal growth phase starting next year.
Huneed Technologies is shifting its business focus from domestic defense communications in South Korea to the global aerospace and drone platform supply chain. This transformation is gradually materializing, with expectations for performance growth from overseas order backlogs becoming increasingly clear.
As of 2024, domestic defense business in South Korea still accounted for the majority of the order backlog, but currently, overseas aviation business has risen to approximately 80% of the total order backlog. The expansion of orders from global aerospace customers, led particularly by Boeing, has made overseas aviation business a core growth driver.
Last year, the company signed an aviation parts supply contract with Boeing worth approximately $130 million, with formal deliveries expected to begin by the end of this year. Huneed Technologies plans to use this to increase the share of aviation business sales to over 50% of total company sales in the medium to long term.
Huneed Technologies' cooperation with U.S. drone specialist General Atomics Aeronautical Systems, Inc. (GA-ASI) is also deepening. The scope of cooperation has expanded from the original supply of UAV PCBA to include UAV harnesses, further solidifying the company's position in the global drone OEM supply chain.
Changes in the global security environment are also supporting Huneed Technologies' aviation business. Heightened geopolitical tensions in the Middle East and the expanding threat of drones have driven demand for surveillance, reconnaissance, precision strike, and manned-unmanned teaming capabilities. As the U.S. expands existing manned and unmanned platforms while strengthening drone capabilities through projects like the Next Generation Collaborative Fighter, the importance of related supply chains such as avionics and harnesses is expected to continue rising.
The foreign exchange environment is also expected to improve performance. Amid persistently high exchange rates, the expanding share of aviation export sales could positively impact profitability. Huneed Technologies plans to solidify the foundation for performance improvement by steadily converting order backlogs, expanding overseas customers, and enhancing production efficiency.
A Huneed Technologies official stated that the recent structural change in the order backlog indicates that the growth axis is shifting from domestic defense in South Korea to global aerospace and drone platforms. The company will strengthen its foundation for sustainable growth by stably converting existing order backlogs into sales and expanding cooperation with global customers.
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