Luxembourg, 2 April 2021. – The South Korean Hanwha Systems wants to launch a massive LEO constellation of 2,000 satellites by 2030, Space News reported.
The fleet is to provide connectivity to cargo-delivery drones and airplanes, Space News said, reporting from an online presentation to investors of the company.
The defense and information technology arm of Hanwha Group, one of South Korea’s leading conglomerates, intends to invest €374 million in the development of the LEO satellites, antennas and control systems, Space News said.
Hanwha presented a plan to raise €900 billion for future investments, it said.
“The global competition is heating up over LEO satellite-based communications market, which has huge growth potential,” Choi Jae-woo, a senior executive responsible for Hanwha’s satellite communications business, said during the online presentation, according to Space News. “With ample technology and expertise built upon 20 years of engagement in the military communications business, we will try to become one of the leading players in the market.”
The company said that satellites, antennas and support systems will largely be developed in the house while launchers will from overseas.
Hanwha also outlined, according to the reports, that trial services are to begin in 2023, regular services on land and sea in 2025 and their expansion and ramp-up to airplanes and urban mobility from 2025 to 2030.