South Korea Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2026

South Korea Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2026

Summary

South Korea Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2026, 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.

The failure of the peace process compels South Korea to enhance its defense expenditure and posture against North Korea. Against this backdrop, the country’s defense budget is expected to experience very high Y-o-Y growth of 3.6% in 2021 and is valued at US$43.7 billion. Over the forecast period, South Korean defense expenditure is anticipated to register robust growth of 5.58% over 2022-2026 and reach US$60.5 billion by 2026. The country’s acquisition budget, which includes research and development (R&D) funding, is also anticipated to register significant growth. It is projected to reach US$19.7 billion in 2026, from US$15.8 billion in 2022.

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.

Drivers of Defense expenditure include acquisition of new capabilities under the Defense Reform 2.0 or DR 2.0 initiative and a concious effort to shift away from imports and develop domestic defense industry. Other factors such as tensions with Japan and the faliure of peace process with North Korea will continue to fuel defense spending over the forecast period.

Who Should BuyDefence 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.Scope

In particular, it provides an in-depth analysis of the including - South Korea defense budget: detailed analysis of South Korea FY2021 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 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 the South Korea defense industry.Reasons to BuyDetermine prospective investment areas based on a detailed trend analysis of the South Korea defense market over the next five yearsGain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the South Korea 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 othersIdentify 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 expansionChannel resources by focusing on the ongoing programs that are being undertaken by the South Korea governmentMake 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