South Korea Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

South Korea Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028 report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

South Korean defense expenditure has historically been driven by the need to deter aggressive actions by the Democratic People's Republic of Korea (DPRK), henceforth referred to as North Korea. The Republic of Korea (RoK), henceforth referred to as South Korea, has allocated enormous funds to bolster its defense posture against North Korea. Over the last couple of years, the country has tried to reach a peace settlement with North Korea and normalize ties with its primary adversary. The talks collapsed when the North Korean regime cut off all lines of communication with South Korea in June 2020, over the perceived failure of the South Korean regime to prevent expatriate North Korean activists from sneaking anti-regime propaganda leaflets across the Korean Demilitarized Zone (DMZ). Any hopes of peace have further dwindled since an official statement by North Korean, Ri Son-Gwon, stating that any prospects of peace between South Korea, North Korea, and the US have 'faded away into a dark nightmare.

Who Should Buy

• Defence Startups, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives
• The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements
• The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups

Key Highlights

• Drivers of Defense expenditure include North Korean militarization, Domestic industry
• Major ongoing procurement program include procurement of KDX-IV Destroyer, F-35A Lightning II, K808 armored personnel carrier

Scope

This report offers detailed analysis of South Korea defense market with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following:

• South Korea defense budget: detailed analysis of South Korea 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions
• Regulation: the procurement policy and process is explained. This is coupled with an analysis of South Korea military doctrine and strategy to provide a comprehensive overview of South Korea military procurement regulation
• Security Environment: political alliances and perceived security threats to South Korea are examined; there help to explain trends in spending and modernisation
• Import and Export Dynamics: analysis of prevalent trends in the country's imports and exports over the last five years
• Competitive landscape and strategic insights: analysis of the competitive landscape of South Korea's defense industry

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the South Korea defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the French market and identify the opportunities offered
• Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
• Identify the major threats that are driving the South Korea defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the South Korea government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available