Strong Global Demand for Boeing Chinook Helicopters sets Huneed on a Runway to Accelerated Growth
“Huneed, the sole global supplier of Chinook helicopter electrical panels,
was awarded an additional $4.5M work package ahead of planned time frame"
This latest award of $4.5M USD is part of the larger $120M USD award that was signed this past July between Huneed Technologies and Boeing Defense & Space.
Huneed Technologies was selected as an exclusive global sole supplier of electrical systems for the Chinook tandem-rotor helicopter in July 2016 after beating heavy competition from its rivals from Asia and the Middle East.
The total contract awarded by Boeing Defense & Space represents $120M USD spread out from 2017 through 2022. The first purchase order was for $14.7M USD and within a few short months, a second purchase order was placed for $4.5M USD. Current purchase order time frame is ahead of anticipated program schedule for Huneed Technologies to deliver the full $120M USD contract orders by 2022.
What makes this current additional award remarkable is the level of trust Boeing Defense & Space has placed in Huneed Technologies.
Eugene Kim, the Chairman of Huneed Technologies, explains, “In the aerospace industry, supplier projects tend to move along conservatively-with very good reason- until the supplier has successfully produced and tested the first sample. This is known as the “First Article Inspection (FAI).” The fact that Boeing has awarded Huneed with additional orders before the conclusion of FAI proves the level of confidence Boeing Defense & Space has in us to deliver on such an important program. As stewards of the Boeing brand, we take this latest award as a badge of pride. We are determined to continue maintaining our focus as a Gold Status supplier in areas of both quality and delivery while providing value to ensure that the Chinook program is a continued global success.” About Boeing H-47 The H-47 Chinook helicopters represents one of the most successful program for Boeing Defense & Space. The Chinooks were first introduced in 1962 during the Vietnam War, and more than 1,500 units have been built to date. The Chinook serves 25 governments around the world in military and humanitarian capabilities. A true workhorse that is immensely popular, Boeing Defense & Space is expected to produce the aircraft at least until 2040. About Huneed Technologies Huneed Technologies is a leading Korean Defense SME in Communications and Aerospace.
For the past 47 years, Huneed Technologies provided key tactical network equipment and systems to Korea’s armed forces and currently provides the latest next generation tactical communication backbone (TICN) through the High Capacity Trunk Radio System (HCTRS) platform.
Huneed Technologies continuously holds Tier-1 Gold Ranking, the highest Boeing supplier classification. Coupled with proven core capabilities in airborne electrical systems and excellence in quality, delivery and value, Huneed Technologies is fast becoming a trusted partner in the aerospace industry with partners such as Airbus Defense & Space, Airbus Helicopters, Safran, Korea Aerospace Industries and Northrop Grumman.