2013-09-03 11:31:06 - Fast Market Research recommends "Future of the South Korean Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018" from Strategic Defence Intelligence, now available
This report is the result of SDI's extensive market and company research covering the South Korean defense industry, and provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.
Introduction and Landscape
Why was the report written?
The Future of the South Korean Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain a market share in the South Korean defense industry.
What is the current market landscape and what is changing?
South Korean defense expenditure registered a CAGR of 7.3% during the review period and values
US$31.0 billion in 2013. Increasing threats from North Korea to use missiles against it, rising tensions in the Korean peninsula, and the modernization of its armed forces to be able to deter external security threats are expected to drive South Korean military expenditure over the forecast period.
Full Report Details at
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What are the key drivers behind recent market changes?
Nuclear threats from North Korea, acquisition of new technology, and reduction in reliance on imports set to drive defense expenditure.
What makes this report unique and essential to read?
The Future of the South Korean Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
Key Features and Benefits
The report provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators, and also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
The report includes trend analysis of imports and exports, together with their implications and impact on the South Korean defense industry.
The report covers five forces analysis to identify various power centers in the industry and how these are expected to develop in the future.
The report allows readers to identify possible ways to enter the market, together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives.
The report helps the reader to understand the competitive landscape of the defense industry in South Korea. It provides an overview of key defense companies, both domestic and foreign, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
Key Market Issues
The South Korean government places increasing emphasis on technical cooperation and technology transfer, to ensure that the South Korean defense industry is not perceived as a sub-contracted supplier of low-technology parts. South Korea has changed its policies to achieve technology transfer in each of its defense deals to reduce its dependence on imports of advanced defense systems.
South Korea has a negative reputation for industrial disputes in terms of wages and dangerous working conditions, and records frequent strikes or violent protests. Although the South Korean government has demonstrated strong commitment to the restructure of the corporate, services and labor sectors, South Korea is perceived as a risk for foreign and domestic investors.
The most important factors for the South Korean Ministry of Defense (MoD) when making purchasing decisions are price, technology transfer, and offsets. The South Korean MoD has adopted a new provision that requires the foreign contractor to provide assurances in advance, that the proposed technologies will be transferred to the country prior to the approval of the offset contract. Traditionally, US defense companies have been very successful in selling defense goods to South Korea; however, future sales could be influenced by European competitors, who are considered more willing to transfer technology and, as a result, are gaining market share.
Previously, foreign defense companies have responded positively to the opportunities provided by the South Korean government in the area of collaborative defense research and development, as this strategy automatically ensures part ownership and South Korean government support. For example, Eurocopter was successful in its entry to the South Korean utility helicopter market through a US$1.1 billion RandD agreement with Korean Aerospace Industries (KAI) to develop the Surion utility helicopter in June 2006, which represented the largest arms deal that South Korea has ever entered with a non-US company.
During the period 2008-2017, Turkey will be the largest importer of South Korean defense goods, accounting for 58.7% of South Korean total defense exports, which was attributed to the signing of the technology transfer deal valued at US$400 million of the Korean K1A1 main battle tank for Turkey's Altay main battle tank project. Other destination countries for South Korean defense goods were Indonesia with a share of 30.2%, Colombia with 8.2%, Peru with 2.2%, Ghana with 0.7%, and the Philippines with 0.1% during this period.
Companies Mentioned in this Report: Korea Aersopace Industries, Samsung Techwin, Hanwha Corporation, Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering, Huneed Technologies, STX Engine, SandT Dynamics, Poongsan Corporation.
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