YoungPoong Electronics signs contract on license production of flight recorders for aircraft.

At Eurosatory 2024, European largest defense industry exhibition held in two years, amidst the high interest in K-defense, our small and medium-sized company also signed a contract with a one of big European defense company.

On the 18th (local time), YoungPoong Electronics, which participated in Eurosatory, signed a technology transfer license production contract on 'Flight Data Recorder' for aircraft worth more than 55 billion won with Hensoldt, a German global avionics company. This means that Hensoldt transferred the technology to YoungPoong Electronics and granted it a license to produce it domestically using the related technology. The signing ceremony was held at the Korean Small and Medium Business Pavilion in the presence of Ryu Ha-yeol, CEO of YoungPoong Electronics, Russell Gould, head of Hensoldt overseas business development division, and Choi Byeong-ro, executive vice president of the Korea Defense Industry Association.

Hensoldt is a company that produces the world's most compact flight data recorder for aircraft. The flight data recorder whose technology was transferred to YoungPoong Electronics is a product called ‘LCR-100/CVFDR’ and is mounted on rotary and fixed wing aircraft or Urban Air Mobility(UAM).

YoungPoong Electronics obtains a production license after undergoing complicated and strict evaluation from Hensoldt over the past year. Through this process, the company will produce flight data recorder for approximately 600 fixed-wing and rotary-wing aircraft operated by military in Korea. Russell Gould, Head, said, “It is an honor to cooperate with a company who has with high-level technology and production capabilities,” and added, “We hope to cooperate in another fields beyond this contract.”

Regarding the signing of this contract, an official from YoungPoong Electronics said, “It was an event to prove that the technology developed over a long period of time by a small and medium-sized defense company, the hidden leader of K-Defense, is now recognized by defense companies from Europe,” and He also added, “As we have established the foundation for supplying to operated aircraft and further applying it to commercial aircraft, we expect an effect of more than $100 million in the future.”