DUBLIN, April 17, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/fsbrl8/commercial) has announced the addition of the "Commercial Aircraft Manufacturing Market in South Korea 2014-2018" report to their offering.
(Logo: http://photos.prnewswire.com/prnh/20130307/600769 )
South Korea is a potential market for the manufacture of commercial aircraft parts and MRO services. Currently, there is no company in South Korea that completely manufactures commercial aircraft, thus the country relies on the import of commercial aircraft from other countries such as the US and the UK. However, there are some vendors in South Korea that manufacture commercial aircraft parts for Airbus SAS and The Boeing Co.
The Commercial Aircraft Manufacturing market in South Korea is expected to witness high growth in the coming years. The Commercial Aircraft Parts Manufacturing market in South Korea and MRO market in South Korea are expected to reach US$1,541.9 million and US$1,343.6 million, respectively, by 2018. The leading companies in South Korea that manufacture commercial aircraft parts and offer MRO are Korea Aerospace Industries Ltd. (KAI) and Korean Air Lines Co. Ltd.
In the context of the increasing number of passengers and flights, there has been an increasing focus on safety in the Commercial Aircraft market in South Korea. The South Korean government has introduced the Aviation Act, which is applicable to aircraft operations, safety, and facilities in the country. This act is governed by the Ministry of Land, Transport and Maritime Affairs of South Korea. The major focus of the regulations of the act is on safety control of commercial aircraft in South Korea.
According to the report, the growth in air passenger traffic is expected to boost the growth of the Commercial Aircraft Manufacturing market in the country. Increasing government support and foreign investments in the Aviation sector in South Korea are also expected to fuel the growth in domestic aircraft manufacturing activities in the country.
Further, the report states that South Korean commercial airlines rely on the import of commercial aircraft from the US and other countries. There is no company engaged in the complete manufacturing of commercial aircraft in South Korea. KAI is the only player capable of building aircraft in South Korea, and currently it manufactures only defense aircraft. Thus, it is a major challenge confronting the Commercial Aircraft Manufacturing market in South Korea to find players for the domestic production of commercial aircraft to reduce its dependence on imports..
Key Topics Covered:
01. Executive Summary
02. List of Abbreviations
03. Scope of the Report
04. Market Research Methodology
06. Market Landscape: South Korea
07. Aircraft Manufacturing Market in South Korea
08. Commercial Aircraft Parts Manufacturing Market in South Korea
09. MRO Market in South Korea
10. Key Market Activities
11. Training Institutes in South Korea
12. Market Drivers
13. Drivers and their Impact
14. Market Challenges
15. Impact of Drivers and Challenges
16. Market Trends
17. Trends and their Impact
18. Vendor Landscape
19. Key Vendor Analysis
20. Other Reports in this Series
- Korea Aerospace Industries Ltd.
- S&K Aerospace Co. Ltd.
- Soosung Airframe Ind. Ltd.
For more information visit http://www.researchandmarkets.com/research/fsbrl8/commercial
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets