Naval vessel order backlog of USD 10 billion
Strong in the production of nuclear submarine modules
Hanwha has stepped forward to acquire Austal USA, a shipbuilder that has been constructing U.S. naval vessels. Austal USA is the U.S. subsidiary of Austal Australia, in which Hanwha is the largest shareholder. Following its acquisition of Philly Shipyard in 2024, Hanwha aims to accelerate its penetration of the U.S. defense market by securing a base capable of producing combat vessels. The company has proposed a price range of USD 1.05 billion to 1.2 billion (approximately KRW 1.5 trillion to 1.7 trillion) to acquire a 100% stake in Austal USA.
Austal USA was founded in 1999 in Mobile, Alabama. It currently employs 3,500 persons, with an order backlog of USD 10 billion (approximately KRW 14.1 won). It has two shipyards, one in Mobile, Alabama (for new vessel construction) and another in San Diego, California (focused on maintenance). It has delivered 19 littoral combat vessels and 15 fast-haul transport ships to the U.S. Navy and the Coast Guard.
With the addition of Austal USA, which has experience producing U.S. Navy vessels and nuclear submarine modules to the Philly Shipyard, which is equipped to build commercial and specialized vessels, Hanwha can generate synergies that significantly expand its business scope in the United States, ranging from naval vessel construction and maintenance to submarine supply chains.
Among South Korea’s Big-3 shipbuilders ‒ HD Hyundai and Samsung Heavy Industries ‒ are each targeting the U.S. naval vessel market using distinct strategies. HD Hyundai has established a shipbuilding partnership with Huntington Ingalls, the largest U.S. naval shipbuilder, and has recently secured consecutive contracts for the maintenance, repair, and overhaul (MRO) of U.S. Navy cargo supply ships, Cesar Chavez and Richard E. Byrd.
Following its partnership with the MRO specialist Vigor Marine Group, Samsung Heavy Industries is collaborating with U.S. Shipbuilder NASSCO on the design of a next-generation military logistics support vessel.
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