South Korea Aviation Market Size
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 4.74 Billion |
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Market Size (2030) | USD 4.71 Billion |
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Largest Share by Aircraft Type | Commercial Aviation |
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CAGR (2024 - 2030) | -0.14 % |
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Fastest Growing by Aircraft Type | Military Aviation |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
South Korea Aviation Market Analysis
The South Korea Aviation Market size is estimated at 4.74 billion USD in 2024, and is expected to reach 4.71 billion USD by 2030, growing at a CAGR of -0.14% during the forecast period (2024-2030).
4.7 B
Market Size in 2024 (USD)
4.7 B
Market Size in 2030 (USD)
322
Total Deliveries in the Historic Period (2017-2023)
477
Total Deliveries during the Forecast Period (2024-2030)
Largest Market by Aircraft Type
79.45 %
value share, Commercial Aviation, 2023
Increasing air passenger traffic and its recovery to pre-pandemic levels, coupled with the replacement of existing aircraft with advanced sustainable aircraft, are driving the commercial aviation market.
Largest Market by Sub-Aircraft Type
79.45 %
value share, Passenger Aircraft, 2023
The increasing international reach of the country's airlines to match ongoing passenger traffic is anticipated to drive the market during 2024-2030.
Leading Market Player
37.68 %
market share, Lockheed Martin Corporation, 2022
The company's ability to provide its most advanced fighter jets with superior lethality, connectivity, and survivability is driving it to capture a major market share.
Second Leading Market Player
34.38 %
market share, The Boeing Company, 2022
Several types of aircraft across the commercial, military, and general aviation sectors are being offered by the company, which is driving it to become a third-leading player.
Third Leading Market Player
12.45 %
market share, Korea Aerospace Industries, 2022
An extensive range of product offerings that include multi-mission helicopters, transport helicopters, and other helicopters for various countries is expected to support company's domination in the region.
The commercial aviation sector is expected to experience a significant expansion Over the forecast period
- The South Korean aviation market is segmented by type into commercial aircraft, military aircraft, and general aviation segments. The country's air transport industry is regarded as one of the most efficient industries in the world and continues to grow firmly and steadily. Over the past 20 years, South 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 showed positive growth.
- South Korea is one of the world's strongly growing commercial aviation markets, despite the COVID-19 pandemic 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 South Korean general aviation market is expected to 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 regarding aircraft deliveries. The growth in the country's overall GDP is expected to aid in propelling the overall South Korean aviation sector.
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South Korea Aviation Market Trends
Air passenger traffic in the country recovered significantly, reaching near pre-COVID-19 levels
- Air passenger traffic in South Korea increased by 11% from 2017 to 2022. The market share of international air passenger traffic of South Korean low-cost carriers (LCC) increased to 32% in 2022. That is a significant increase from just 5% the year before. The LCCs' growth has been at the expense of the market shares of Korean full-service carriers (FSC) and international carriers.
- Domestic and foreign airlines made 539,788 flights over South Korea in 2022, up from 465,469 flights in 2021. As per the South Korean Ministry of Land and Infrastructure, the 2022 flights still stood at 65% of the pre-pandemic levels.
- The number of air passengers in South Korea recovered to nearly 84% of the pre-pandemic level in July 2022. The number of international flight passengers tripled to 6.38 million in July from a year ago. Still, domestic flight passengers dropped about 18% on-year to 2.59 million as more people traveled abroad. The flight passenger tally is expected to recover to about 85% of the pre-pandemic level by the end of 2023. The air passenger traffic in the country is expected to surge by over 125 million in 2030.
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South Korea has committed to strengthening its defense technology partnerships with its American counterparts and broadening its security partnerships
- The South Korean military expenditure reached USD 46 billion in 2022. It declined by about 9% in 2022, but about 5% during 2019-2022 and by 18% between 2017-2022. In its Mid-Term Defense Plan for 2022–2026, the Ministry of National Defense increased its defense budget to USD 271.5 billion. The plan projects an average 5.8% annual budget increase. About USD 90 billion will be spent on military-specific interventions for cutting-edge military technology. The MND and the South Korean procurement agency Defense Acquisition Program Administration (DAPA) allocated USD 15 billion for purchase and R&D in 2021. To strengthen its defense cooperation with the US and the Indo-Pacific region, South Korea committed to significant defense technology cooperation with its US counterparts and diversifying its security alliances with other nations, such as Australia, India, and ASEAN countries.
- In May 2018, an agreement for the purchase of 36 AH-64E Apache helicopters was signed by the South Korean government and the US Department of Defense (DoD). The deal, estimated to be worth USD 96.3 million, was completed by April 2023. According to a contract between the government and Korea Aerospace Industries, South Korea will acquire 70 Surion utility helicopters by 2022. The KAI agreed to provide 30 Surion helicopters to the Marine Corps by 2023 and 70 to the Army by 2022. The MND also included the KF-21 fighter aircraft development program run by Korea Aerospace Industries (KAI). The KF-21 is intended to replace the F-5E/F Tiger IIs, F-4 Phantoms, several aged F-16C/Ds, and F-15K Slam Eagles. The MND proposed funding of USD 350 million for this project in their budget for 2022.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Cargo's business revenue from major airline Korea Air dropped by 51% in 2023 compared to 2022
- The strong recovery in the passenger aviation sector led to a surge in revenue passenger kilometers in the country
- South Korea’s ongoing domestic initiatives indicate the country’s emphasis on strengthening its defense posture and increasing its competitive advantage
- Strong recovery and growth in the manufacturing sector are expected to aid South Korea's GDP in 2023-2030
- The acceleration in inflation is expected to put renewed upward pressure on policymakers to increase interest rates
- The majority of the HNWIs in the country belong to sectors real estate and financial investments
South Korea Aviation Industry Overview
The South Korea Aviation Market is moderately consolidated, with the top five companies occupying 62.10%. The major players in this market are Airbus SE, Dassault Aviation, Korea Aerospace Industries, Lockheed Martin Corporation and The Boeing Company (sorted alphabetically).
South Korea Aviation Market Leaders
Airbus SE
Dassault Aviation
Korea Aerospace Industries
Lockheed Martin Corporation
The Boeing Company
Other important companies include Cirrus Design Corporation, General Dynamics Corporation, Leonardo S.p.A, Robinson Helicopter Company Inc..
*Disclaimer: Major Players sorted in alphabetical order.
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South Korea Aviation Market News
- July 2021: The collaborative research lab "Innovative Functional Materials for Aviation" was established by Dassualt Aviation, CNRS, University of Strasbourg, and University of Lorraine (MOLIERE). Its objective is to develop novel anti-icing, electromagnetic, and acoustic materials for future aeroplanes.
- March 2020: A USD 1.5 billion manufacturing agreement for 18 P-8A Poseidon aircraft was given to Boeing by the US Navy. The deal calls for four aircraft for the Royal New Zealand Air Force, six aircraft for the Republic of Korea Navy, and eight aircraft for the United States Navy.
Free with this Report
We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 45+ free charts, the section covers data on commercial aircraft deliveries by manufacturer, backlogs of commercial aircraft, active military aircraft fleet by type of aircraft, overall business jets and helicopters fleet by manufacturer and also classified by type of ownership.
South Korea Aviation Market Report - 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 (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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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
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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
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR AVIATION CEOS
8. APPENDIX
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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
List of Tables & Figures
- Figure 1:
- AIR PASSENGER TRAFFIC, NUMBER OF PASSENGERS TRAVELLED, SOUTH KOREA, 2017 - 2030
- Figure 2:
- AIR TRANSPORT FREIGHT, MILLION TON-KM, SOUTH KOREA, 2017 - 2030
- Figure 3:
- GROSS DOMESTIC PRODUCT, USD, SOUTH KOREA, 2017 - 2030
- Figure 4:
- DISTANCE TRAVELLED BY REVENUE PASSENGERS, RPK, SOUTH KOREA, 2017 - 2030
- Figure 5:
- INFLATION RATE, %, SOUTH KOREA, 2017 - 2030
- Figure 6:
- ACTIVE MILITARY AIRCRAFT FLEET, NUMBER OF AIRCRAFT, VOLUME, SOUTH KOREA, 2016 - 2030
- Figure 7:
- DEFENSE SPENDING, USD, SOUTH KOREA, 2017 - 2030
- Figure 8:
- POPULATION OF HIGH-NET-WORTH INDIVIDUAL (HNWI), NUMBER OF HNWIS, SOUTH KOREA, 2017 - 2030
- Figure 9:
- NUMBER OF NEW AIRCRAFT DELIVERIES, VOLUME, SOUTH KOREA, 2017 - 2030
- Figure 10:
- NUMBER OF NEW AIRCRAFT DELIVERIES, USD, SOUTH KOREA, 2017 - 2030
- Figure 11:
- NEW AIRCRAFT DELIVERIES BY AIRCRAFT TYPE, VOLUME, SOUTH KOREA, 2017 - 2030
- Figure 12:
- NEW AIRCRAFT DELIVERIES BY AIRCRAFT TYPE, USD, SOUTH KOREA, 2017 - 2030
- Figure 13:
- MARKET SHARE BY AIRCRAFT TYPE, VOLUME %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 14:
- MARKET SHARE BY AIRCRAFT TYPE, VALUE %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 15:
- COMMERCIAL AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, VOLUME, SOUTH KOREA, 2017 - 2030
- Figure 16:
- COMMERCIAL AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, USD, SOUTH KOREA, 2017 - 2030
- Figure 17:
- COMMERCIAL AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, VOLUME %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 18:
- COMMERCIAL AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, VALUE %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 19:
- SOUTH KOREA AVIATION MARKET, BY FREIGHTER AIRCRAFT, UNITS, 2017 - 2030
- Figure 20:
- SOUTH KOREA AVIATION MARKET, BY FREIGHTER AIRCRAFT, USD, 2017 - 2030
- Figure 21:
- SOUTH KOREA AVIATION MARKET, BY SUB AIRCRAFT TYPE, USD, %, 2023 VS 2030
- Figure 22:
- PASSENGER AIRCRAFT DELIVERIES BY BODY TYPE, VOLUME, SOUTH KOREA, 2017 - 2030
- Figure 23:
- PASSENGER AIRCRAFT DELIVERIES BY BODY TYPE, USD, SOUTH KOREA, 2017 - 2030
- Figure 24:
- PASSENGER AIRCRAFT DELIVERIES BY BODY TYPE, VOLUME %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 25:
- PASSENGER AIRCRAFT DELIVERIES BY BODY TYPE, VALUE %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 26:
- SOUTH KOREA AVIATION MARKET, BY NARROWBODY AIRCRAFT, UNITS, 2017 - 2030
- Figure 27:
- SOUTH KOREA AVIATION MARKET, BY NARROWBODY AIRCRAFT, USD, 2017 - 2030
- Figure 28:
- SOUTH KOREA AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 29:
- SOUTH KOREA AVIATION MARKET, BY WIDEBODY AIRCRAFT, UNITS, 2017 - 2030
- Figure 30:
- SOUTH KOREA AVIATION MARKET, BY WIDEBODY AIRCRAFT, USD, 2017 - 2030
- Figure 31:
- SOUTH KOREA AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 32:
- GENERAL AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, VOLUME, SOUTH KOREA, 2017 - 2030
- Figure 33:
- GENERAL AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, USD, SOUTH KOREA, 2017 - 2030
- Figure 34:
- GENERAL AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, VOLUME %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 35:
- GENERAL AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, VALUE %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 36:
- BUSINESS JETS DELIVERIES BY BODY TYPE, VOLUME, SOUTH KOREA, 2017 - 2030
- Figure 37:
- BUSINESS JETS DELIVERIES BY BODY TYPE, USD, SOUTH KOREA, 2017 - 2030
- Figure 38:
- BUSINESS JETS DELIVERIES BY BODY TYPE, VOLUME %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 39:
- BUSINESS JETS DELIVERIES BY BODY TYPE, VALUE %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 40:
- SOUTH KOREA AVIATION MARKET, BY LARGE JET, UNITS, 2017 - 2030
- Figure 41:
- SOUTH KOREA AVIATION MARKET, BY LARGE JET, USD, 2017 - 2030
- Figure 42:
- SOUTH KOREA AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 43:
- SOUTH KOREA AVIATION MARKET, BY LIGHT JET, UNITS, 2017 - 2030
- Figure 44:
- SOUTH KOREA AVIATION MARKET, BY LIGHT JET, USD, 2017 - 2030
- Figure 45:
- SOUTH KOREA AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 46:
- SOUTH KOREA AVIATION MARKET, BY MID-SIZE JET, UNITS, 2017 - 2030
- Figure 47:
- SOUTH KOREA AVIATION MARKET, BY MID-SIZE JET, USD, 2017 - 2030
- Figure 48:
- SOUTH KOREA AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 49:
- SOUTH KOREA AVIATION MARKET, BY PISTON FIXED-WING AIRCRAFT, UNITS, 2017 - 2030
- Figure 50:
- SOUTH KOREA AVIATION MARKET, BY PISTON FIXED-WING AIRCRAFT, USD, 2017 - 2030
- Figure 51:
- SOUTH KOREA AVIATION MARKET, BY SUB AIRCRAFT TYPE, USD, %, 2023 VS 2030
- Figure 52:
- SOUTH KOREA AVIATION MARKET, BY OTHERS, UNITS, 2017 - 2030
- Figure 53:
- SOUTH KOREA AVIATION MARKET, BY OTHERS, USD, 2017 - 2030
- Figure 54:
- SOUTH KOREA AVIATION MARKET, BY SUB AIRCRAFT TYPE, USD, %, 2023 VS 2030
- Figure 55:
- MILITARY AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, VOLUME, SOUTH KOREA, 2017 - 2030
- Figure 56:
- MILITARY AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, USD, SOUTH KOREA, 2017 - 2030
- Figure 57:
- MILITARY AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, VOLUME %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 58:
- MILITARY AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, VALUE %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 59:
- FIXED-WING AIRCRAFT DELIVERIES BY BODY TYPE, VOLUME, SOUTH KOREA, 2017 - 2030
- Figure 60:
- FIXED-WING AIRCRAFT DELIVERIES BY BODY TYPE, USD, SOUTH KOREA, 2017 - 2030
- Figure 61:
- FIXED-WING AIRCRAFT DELIVERIES BY BODY TYPE, VOLUME %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 62:
- FIXED-WING AIRCRAFT DELIVERIES BY BODY TYPE, VALUE %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 63:
- SOUTH KOREA AVIATION MARKET, BY MULTI-ROLE AIRCRAFT, UNITS, 2017 - 2030
- Figure 64:
- SOUTH KOREA AVIATION MARKET, BY MULTI-ROLE AIRCRAFT, USD, 2017 - 2030
- Figure 65:
- SOUTH KOREA AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 66:
- SOUTH KOREA AVIATION MARKET, BY TRAINING AIRCRAFT, UNITS, 2017 - 2030
- Figure 67:
- SOUTH KOREA AVIATION MARKET, BY TRAINING AIRCRAFT, USD, 2017 - 2030
- Figure 68:
- SOUTH KOREA AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 69:
- SOUTH KOREA AVIATION MARKET, BY TRANSPORT AIRCRAFT, UNITS, 2017 - 2030
- Figure 70:
- SOUTH KOREA AVIATION MARKET, BY TRANSPORT AIRCRAFT, USD, 2017 - 2030
- Figure 71:
- SOUTH KOREA AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 72:
- SOUTH KOREA AVIATION MARKET, BY OTHERS, UNITS, 2017 - 2030
- Figure 73:
- SOUTH KOREA AVIATION MARKET, BY OTHERS, USD, 2017 - 2030
- Figure 74:
- SOUTH KOREA AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 75:
- ROTORCRAFT DELIVERIES BY BODY TYPE, VOLUME, SOUTH KOREA, 2017 - 2030
- Figure 76:
- ROTORCRAFT DELIVERIES BY BODY TYPE, USD, SOUTH KOREA, 2017 - 2030
- Figure 77:
- ROTORCRAFT DELIVERIES BY BODY TYPE, VOLUME %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 78:
- ROTORCRAFT DELIVERIES BY BODY TYPE, VALUE %, SOUTH KOREA, 2017 VS 2023 VS 2030
- Figure 79:
- SOUTH KOREA AVIATION MARKET, BY MULTI-MISSION HELICOPTER, UNITS, 2017 - 2030
- Figure 80:
- SOUTH KOREA AVIATION MARKET, BY MULTI-MISSION HELICOPTER, USD, 2017 - 2030
- Figure 81:
- SOUTH KOREA AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 82:
- SOUTH KOREA AVIATION MARKET, BY TRANSPORT HELICOPTER, UNITS, 2017 - 2030
- Figure 83:
- SOUTH KOREA AVIATION MARKET, BY TRANSPORT HELICOPTER, USD, 2017 - 2030
- Figure 84:
- SOUTH KOREA AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 85:
- SOUTH KOREA AVIATION MARKET, BY OTHERS, UNITS, 2017 - 2030
- Figure 86:
- SOUTH KOREA AVIATION MARKET, BY OTHERS, USD, 2017 - 2030
- Figure 87:
- SOUTH KOREA AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 88:
- MOST ACTIVE COMPANIES, NUMBER OF STRATEGIC MOVES, SOUTH KOREA, 2018-2023
- Figure 89:
- MOST ADOPTED STRATEGIES, COUNT, SOUTH KOREA, 2018 - 2023
- Figure 90:
- MAJOR PLAYERS REVENUE SHARE (%), SOUTH KOREA, 2023
South Korea Aviation Industry Segmentation
Commercial Aviation, General Aviation, Military Aviation are covered as segments by Aircraft Type.
- The South Korean aviation market is segmented by type into commercial aircraft, military aircraft, and general aviation segments. The country's air transport industry is regarded as one of the most efficient industries in the world and continues to grow firmly and steadily. Over the past 20 years, South 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 showed positive growth.
- South Korea is one of the world's strongly growing commercial aviation markets, despite the COVID-19 pandemic 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 South Korean general aviation market is expected to 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 regarding aircraft deliveries. The growth in the country's overall GDP is expected to aid in propelling the overall South Korean aviation sector.
| Aircraft Type | Commercial Aviation | By Sub Aircraft Type | Freighter Aircraft | ||
| Passenger Aircraft | By Body Type | Narrowbody Aircraft | |||
| Widebody Aircraft | |||||
| Aircraft Type | General Aviation | By Sub Aircraft Type | Business Jets | By Body Type | Large Jet |
| Light Jet | |||||
| Mid-Size Jet | |||||
| Aircraft Type | General Aviation | By Sub Aircraft Type | Piston Fixed-Wing Aircraft | ||
| Others | |||||
| Aircraft Type | Military Aviation | By Sub Aircraft Type | Fixed-Wing Aircraft | By Body Type | Multi-Role Aircraft |
| Training Aircraft | |||||
| Transport Aircraft | |||||
| Others | |||||
| Aircraft Type | Military Aviation | By Sub Aircraft Type | Rotorcraft | By Body Type | Multi-Mission Helicopter |
| Transport Helicopter | |||||
| Others |
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Market Definition
- Aircraft Type - All the aircraft related to commercial, military and general aviation have been included in this study
- Sub-Aircraft Type - Fixed-Wing passenger aircraft, freighter aircraft, business jets, piston fixed-wing aircraft, military fixed-wing aircraft, and rotorcraft are included under this study.
- Body Type - Body type includes all types of aircraft segmented based on application/size/capacity/role.
| Keyword | Definition |
|---|---|
| IATA | IATA stands for the International Air Transport Association, a trade organization composed of airlines around the world that has an influence over the commercial aspects of flight. |
| ICAO | ICAO stands for International Civil Aviation Organization, a specialized agency of the United Nations that supports aviation and navigation around the globe. |
| Air Operator Certificate (AOC) | A certificate granted by a National Aviation Authority permitting the conduct of commercial flying activities. |
| Certificate Of Airworthiness (CoA) | A Certificate Of Airworthiness (CoA) is issued for an aircraft by the civil aviation authority in the state in which the aircraft is registered. |
| Gross Domestic Product (GDP) | Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period by countries. |
| RPK (Revenue Passenger Kilometres) | The RPK of an airline is the sum of the products obtained by multiplying the number of revenue passengers carried on each flight stage by the stage distance - it is the total number of kilometers traveled by all revenue passengers. |
| Load Factor | The load factor is a metric used in the airline industry that measures the percentage of available seating capacity that has been filled with passengers. |
| Original Equipment Manufacturer (OEM) | An original equipment manufacturer (OEM) traditionally is defined as a company whose goods are used as components in the products of another company, which then sells the finished item to users. |
| International Transportation Safety Association (ITSA) | International Transportation Safety Association (ITSA) is an international network of heads of independent safety investigation authorities (SIA). |
| Available Seats Kilometre (ASK) | This metric is calculated by multiplying Available Seats (AS) in one flight, defined above, multiplied by the distance flown. |
| Gross Weight | The fully-loaded weight of an aircraft, also known as “takeoff weight,” which includes the combined weight of passengers, cargo, and fuel. |
| Airworthiness | The ability of an aircraft, or other airborne equipment or system, to operate in flight and on the ground without significant hazard to aircrew, ground crew, passengers or to other third parties. |
| Airworthiness Standards | Detailed and comprehensive design and safety criteria applicable to the category of aeronautical product (aircraft, engine or propeller). |
| Fixed Base Operator (FBO) | A business or organization that operates at an airport. An FBO provides aircraft operating services like maintenance, fueling, flight training, charter services, hangaring, and parking. |
| High Net worth Individuals (HNWIs) | High Net worth Individuals (HNWIs) are individuals with over USD 1 million in liquid financial assets. |
| Ultra High Net worth Individuals (UHNWIs) | Ultra High Net worth Individuals (UHNWIs) are individuals with over USD 30 million in liquid financial assets. |
| Federal Aviation Administration (FAA) | The division of the Department of Transportation is concerned with aviation. It operates Air Traffic Control and regulates everything from aircraft manufacturing to pilot training to airport operations in the United States. |
| EASA (European Aviation Safety Agency) | The European Aviation Safety Agency is a European Union agency established in 2002 with the task of overseeing civil aviation safety and regulation. |
| Airborne Warning and Control System (AW&C) aircraft | Airborne Warning and Control System (AEW&C) aircraft is equipped with a powerful radar and on-board command and control center to direct the armed forces. |
| The North Atlantic Treaty Organization (NATO) | The North Atlantic Treaty Organization (NATO), also called the North Atlantic Alliance, is an intergovernmental military alliance between 30 member states – 28 European and two North American. |
| Joint Strike Fighter (JSF) | Joint Strike Fighter (JSF) is a development and acquisition program intended to replace a wide range of existing fighter, strike, and ground attack aircraft for the United States, the United Kingdom, Italy, Canada, Australia, the Netherlands, Denmark, Norway, and formerly Turkey. |
| Light Combat Aircraft (LCA) | A light combat aircraft (LCA) is a light, multirole jet/turboprop military aircraft, commonly derived from advanced trainer designs, designed for engaging in light combat. |
| Stockholm International Peace Research Institute (SIPRI) | Stockholm International Peace Research Institute (SIPRI) is an international institute that provides data, analysis, and recommendations for armed conflict, military expenditure, and arms trade as well as disarmament and arms control. |
| Maritime Patrol Aircraft (MPA) | A maritime patrol aircraft (MPA), also known as maritime reconnaissance aircraft is a fixed-wing aircraft designed to operate for long durations over water in maritime patrol roles, in particular, anti-submarine warfare (ASW), anti-ship warfare (AShW), and search and rescue (SAR). |
| Mach Number | The Mach number is defined as the ratio of true airspeed to the speed of sound at the altitude of a given aircraft. |
| Stealth Aircraft | Stealth is a Common term applied to low observable (LO) technology and doctrine, that makes an aircraft near invisible to radar, infrared or visual detection. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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