高盛发布韩华航空航天（012450.KS）研究报告，指出过去一周公司订单潜力显著增长，尽管股价维持区间波动。美国轮式榴弹炮项目（潜在60-80亿美元订单）之外，履带式榴弹炮项目（8月31日发布信息征询书）规模或达轮式项目的1.5倍以上，韩华已赢得轮式项目原型合同并在履带式榴弹炮市场拥有约50%的全球出口份额，美国陆军预计2027年三季度选定原型供应商。欧洲方面，韩华与克罗地亚签署供应18套天橆（Chunmoo）多管火箭系统合同，克罗地亚成为欧洲第四个采用国；瑞士正考虑为其远程防空系统部署L-SAM或SAMP/T，交付时效成为关键标准。中东方面，沙特订单时点仍缺乏可见度，但EDGE集团已与韩华签署条款书探讨L-SAM、M-SAM及本地生产合作。
Goldman Sachs notes that over the past week substantial order potential has developed for Hanwha Aerospace even as the share price remains range bound. Beyond the US$6-8bn potential orders from the wheeled howitzer program, the US tracked howitzer program (RFI issued on Aug 31st) could be 1.5x larger in value; Hanwha has already won the prototype for the wheeled program and holds ~50% global export share in the tracked howitzer market, with the US Army expected to select a prototype provider by 3Q27. In Europe, Hanwha signed a contract to supply 18 Chunmoo systems to Croatia, the 4th European country to adopt Chunmoo, and Switzerland is considering L-SAM or SAMP/T for its long-range surface-to-air defense system, prioritizing delivery before 2030. In the Middle East, timing of the Saudi order remains uncertain, though EDGE Group and Hanwha have signed a term sheet to explore cooperation on L-SAM and M-SAM air defence systems, Chunmoo and potential local production. While a strong KRW a