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South Korea Aviation Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

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    Report

  • 321 Pages
  • January 2023
  • Region: South Korea
  • Mordor Intelligence
  • ID: 5717008
The South Korea Aviation Market is projected to register a CAGR of 7.62%

Key Highlights

  • Largest Market by Aircraft Type - Military Aviation: Rising geopolitical tensions and ongoing conflicts between the countries are some factors prompting the country to spend on military equipment.
  • Largest Market by Sub-Aircraft Type - Fixed-Wing Aircraft: The country's focus on enhancing its combat capabilities by procuring technologically advanced combat aircraft drives the fixed-wing aircraft market growth in military aviation.

Key Market Trends

Military Aviation is the largest segment by Aircraft Type.

  • The South Korean aviation market is segmented by type into commercial aircraft, military aircraft, and general aviation segments. The South Korean air transport industry is regarded as one of the most efficient industries in the world and continues to grow strongly and steadily. Over the past 20 years, Korea's international passenger and cargo traffic volumes have steadily increased.
  • The military aviation sector benefits from the increasing government investment in R&D and the procurement of advanced fighter jets, helicopters, and transport and training aircraft from the local players. Though the deliveries have been affected by a halt in production and lockdowns, this segment remained positive.
  • South Korea is one of the world's strongly growing commercial aviation markets. Despite the COVID-19 epidemic impacting the region's commercial airline industry. The recovery of passenger traffic is anticipated to aid in the revival of South Korea's commercial aviation industry. South Korea witnessed a total increase of 205% in 2021. The rise in passenger traffic is due to ease in border restrictions.
  • The General aviation market in South Korea could expand over the forecast period due to an increasing emphasis on improving the infrastructure of private airports and the increasing number of HNWIs in the country.
  • During the COVID-19 pandemic in 2020, there was a decline in business jet deliveries, but the piston fixed-wing, turboprop, and helicopters segment remained strong in terms of aircraft deliveries. In 2021, all of these segments exceeded the pre-pandemic deliveries.


Competitive Landscape

The South Korea Aviation Market is fairly consolidated, with the top five companies occupying 99.12%. The major players in this market are Airbus SE, Cirrus Design Corporation, Korea Aerospace Industries, Lockheed Martin Corporation and The Boeing Company (sorted alphabetically).

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

Table of Contents

1 EXECUTIVE SUMMARY & KEY FINDINGS

2 REPORT OFFERS

3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study​
3.3 Research Methodology

4 KEY INDUSTRY TRENDS
4.1 Air Passenger Traffic
4.2 Air Transport Freight
4.3 Gross Domestic Product
4.4 Revenue Passenger Kilometers (RPK)
4.5 Inflation Rate
4.6 Active Fleet Data
4.7 Defense Spending
4.8 High-Net-Worth Individual (HNWI)
4.9 Regulatory Framework
4.10 Value Chain Analysis

5 MARKET SEGMENTATION
5.1 Aircraft Type
5.1.1 Commercial Aviation
5.1.1.1 By Sub Aircraft Type
5.1.1.1.1 Freighter Aircraft
5.1.1.1.2 Passenger Aircraft
5.1.1.1.2.1 By Body Type
5.1.1.1.2.1.1 Narrowbody Aircraft
5.1.1.1.2.1.2 Widebody Aircraft
5.1.2 General Aviation
5.1.2.1 By Sub Aircraft Type
5.1.2.1.1 Business Jets
5.1.2.1.1.1 By Body Type
5.1.2.1.1.1.1 Large Jet
5.1.2.1.1.1.2 Light Jet
5.1.2.1.1.1.3 Mid-Size Jet
5.1.2.1.2 Piston Fixed-Wing Aircraft
5.1.2.1.3 Others
5.1.3 Military Aviation
5.1.3.1 By Sub Aircraft Type
5.1.3.1.1 Fixed-Wing Aircraft
5.1.3.1.1.1 By Body Type
5.1.3.1.1.1.1 Multi-Role Aircraft
5.1.3.1.1.1.2 Training Aircraft
5.1.3.1.1.1.3 Transport Aircraft
5.1.3.1.1.1.4 Others
5.1.3.1.2 Rotorcraft
5.1.3.1.2.1 By Body Type
5.1.3.1.2.1.1 Multi-Mission Helicopter
5.1.3.1.2.1.2 Transport Helicopter
5.1.3.1.2.1.3 Others

6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.1 Airbus SE
6.4.2 Cirrus Design Corporation
6.4.3 Dassault Aviation
6.4.4 General Dynamics Corporation
6.4.5 Korea Aerospace Industries
6.4.6 Leonardo S.p.A
6.4.7 Lockheed Martin Corporation
6.4.8 Robinson Helicopter Company Inc.
6.4.9 The Boeing Company

7 KEY STRATEGIC QUESTIONS FOR AVIATION CEOS

8 APPENDIX
8.1 Global Overview
8.1.1 Overview
8.1.2 Porter’s Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Market Dynamics (DROs)
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Airbus SE
  • Cirrus Design Corporation
  • Dassault Aviation
  • General Dynamics Corporation
  • Korea Aerospace Industries
  • Leonardo S.p.A
  • Lockheed Martin Corporation
  • Robinson Helicopter Company Inc.
  • The Boeing Company

Methodology

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