Waybis Co., Ltd. (CEO: Min-Seok Han), a defense industry and gallium nitride (GaN) RF semiconductor specialist, announced on the 28th that it signed a 26.5 billion won contract with Hanwha Systems for the mass production of high-power amplifier boards for long-range surface-to-air guided missile systems (L-SAM) multi-function radars.
This order is a result of the conversion of the L-SAM exploration and system development project that Wayvis participated in from 2016 to the end of last year into a mass production project, and it is expected to lead to continued volume expansion in the future as well as orders for overseas exports and similar weapon system projects.
L-SAM is a long-range surface-to-air guided weapon independently developed by our country, and is a core capability of the Korea Air and Missile Defense (KAMD) system that intercepts ballistic missiles in the terminal stage or shoots down aircraft at long range. Also known as the 'Korean THAAD', this system is the central axis of the multi-layered defense network and is a representative K-defense weapon with high potential for export in the future. Development was completed last year, and mass production began this year. According to the power-up plan, it is expected to be deployed in the field within 2-3 years.
The high-power amplifier board supplied by Waybis is a key component of the multi-function radar (MFR) developed by Hanwha Systems, and it controls and transmits the transmission power in the AESA (Active Electronically Scanned Array) type transmitter module. This amplifier board is a key component that directly affects the detection range and accuracy of the system, and gallium nitride (GaN) RF semiconductors are used.
In addition to L-SAM, Wayvis has been involved in major domestic weapons development projects for many years, including aircraft, ships, and air defense weapons, and as past development projects transition to mass production, a stable sales base is being established. Accordingly, sales, which were 4.7 billion won in 2022, are rapidly growing to 16.9 billion won in 2023 and 29.4 billion won in 2024, and the growth trend is expected to continue this year with this L-SAM mass production order.
Waybis CMO Lee Man-gyu said, “Waybis will expand its role as a key technology company participating in the L-SAM project, which is considered a symbol of Korea’s defense technology independence and localization, and will also contribute to securing a base for localization of technology and exports for various weapons systems in the future.”
Currently, L-SAM is actively negotiating exports to countries in the Middle East, and as it is attracting attention as a new export engine for K-defense, there is analysis that Wayvis, a key parts supplier, is also likely to benefit from exports.
Listed on the KOSDAQ market in October last year as a technology special case, Wayvis is a specialized company in gallium nitride RF semiconductors that has emerged as a key component in advanced weapon systems, anti-drone, mobile communication infrastructure, and satellite aerospace. It is the only company in Korea that has succeeded in domestically producing gallium nitride RF semiconductor chips, which were previously imported entirely from overseas, and has secured mass production capabilities.
Wayvis is planning to commercialize its X-band (8-12GHz) process technology, which is widely used in next-generation radars, satellites, and other cutting-edge weapon systems, this year, and based on the process, it plans to expand discussions on cooperation with major Indian defense customers in next-generation applications such as anti-drone, multi-function radar, and electronic warfare systems.
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