ReportsnReports.com adds report Commercial Aircraft Manufacturing Market in South Korea 2014-2018 to its store. 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.
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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.
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 grow at a CAGR of 16.53 percent and 4.63 percent respectively for the period 2013-2018. 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.
There are several factors that drive the growth of the Commercial Aircraft Manufacturing market in South Korea. 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. In addition, the increase in airport infrastructure development initiatives undertaken by the government would lead to more demand for commercial aircraft in South Korea.
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Despite the growth prospects in the Commercial Aircraft Manufacturing market in South Korea, the market is pegged with certain growth inhibitors. Some of the key challenges confronting the market are fluctuating jet oil prices and heavy reliance on the import of commercial aircraft. There is no company in South Korea that completely manufactures commercial aircraft, which forces domestic airline companies to rely on the import of commercial aircraft.
Despite the presence of these challenges, the Commercial Aircraft Manufacturing market in South Korea is witnessing some emerging trends in the market. One of the key trends is the growing focus on aviation safety measures to improve safety performance of aircraft. Another major trend in the market is the increasing focus on commercial aircraft manufacturing activities in South Korea.
Analyst recognizes the following companies as the key players in the Commercial Aircraft Manufacturing Market in South Korea: KAI Ltd., Hyune Aero-Specialty Inc., S&K Aerospace Co. Ltd., and Soosung Airframe.
Key questions answered in this report:
- What will the market size be in 2018 and what will be the growth rate?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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