Naraspace , a global total solution company for ultra-small satellites, announced on the 26th that it signed a memorandum of understanding (MOU) with Hanwha Systems for business cooperation in the space defense industry.
Through this collaboration, the two companies have decided to pursue joint development and global advancement in the space defense industry, focusing on the integration of ultra-small satellite systems and the development of main bodies and payloads, including ▲low-orbit satellite-based PNT (Position, Navigation, and Timing) projects, ▲low-orbit satellite communication projects, and ▲space domain awareness projects.
This collaboration is considered a representative model of collaboration between a startup and a large corporation amidst the private sector-led "New Space" transition. The two companies plan to jointly provide customized satellite solutions, develop new space and defense technologies, and lay the foundation for expanding into overseas markets.
Naraspace is a company specializing in microsatellites, providing services ranging from satellite development, production, and operation to data analysis. It has proven its technological prowess through numerous private and public satellite projects. Recently, it has expanded its business into the defense industry.
Hanwha Systems provides cutting-edge IT-based solutions in areas such as surveillance and reconnaissance, command, control, communications, and unmanned systems. In the space and aviation sector, it is involved in the development of surveillance and reconnaissance satellites and communications satellite solutions. It is also actively pursuing entry into the NewSpace market.
The collaboration between Naraspace, which possesses domestic microsatellite technology, and Hanwha Systems, which possesses capabilities in defense and space technology, is expected to generate synergy between the two companies. Through this collaboration, Naraspace plans to engage in earnest discussions with Hanwha Systems and its affiliates to enter the global space and defense market.
NaRaSpace CEO Park Jae-pil stated, "This collaboration will be a crucial turning point for our entry into overseas markets and expansion." A Hanwha Systems representative added, "We anticipate significant synergy from the combination of Hanwha Systems' technological prowess and the startup's innovative technology."
- See more related articles
You must be logged in to post a comment.