Hanwha Aerospace secured an additional order to supply three K239 Chunmoo rocket launchers to Estonia. The parties signed this government-to-government agreement on May 11. This contract builds upon a previous order from December 2025. That initial deal included six launchers and munitions.
The deal strengthens Estonia’s long-range strike capabilities and its partnership with the South Korean firm. Hanwha Aerospace already provides K9 self-propelled howitzers to the Estonian military.
The sale expands Hanwha’s European footprint alongside existing NATO contracts in Poland and Norway. This procurement signals a broader military modernization cycle benefiting the XAR ETF. Global demand for precision-strike platforms continues to drive growth in the defense sector.