South Korea Aerospace And Defense Materials Market Size & Outlook
South Korea aerospace and defense materials market, 2018-2030 (US$M)
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South Korea aerospace and defense materials market highlights
- The South Korea aerospace and defense materials market generated a revenue of USD 125.2 million in 2023 and is expected to reach USD 202.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.1% from 2024 to 2030.
- In terms of segment, composites was the largest revenue generating material in 2023.
- Composites is the most lucrative material segment registering the fastest growth during the forecast period.
Aerospace and defense materials market data book summary
| Market revenue in 2023 | USD 125.2 million |
| Market revenue in 2030 | USD 202.9 million |
| Growth rate | 7.1% (CAGR from 2023 to 2030) |
| Largest segment | Composites |
| Fastest growing segment | Composites |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Aluminum, Titanium, Composites, Superalloys, Steel, Plastics |
| Key market players worldwide | Huntsman Corp, Toray Industries Inc, Arconic, Kobe Steel Ltd, Allegheny & Western Railway, Cytec Industries, Hexcel Corp, Novelis, Constellium SE Class A, SGL Group, Thyssenkrupp AG, Formosa Plastics Group, Teijin Ltd, Strata Investment Holdings plc, VSMPO-AVISMA |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.6% of the global aerospace and defense materials market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China aerospace and defense materials market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 480.9 million by 2030.
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Aerospace And Defense Materials Market Scope
Aerospace And Defense Materials Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea aerospace and defense materials market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to aerospace and defense materials market will help companies and investors design strategic landscapes.
Composites was the largest segment with a revenue share of 46.33% in 2023. Horizon Databook has segmented the South Korea aerospace and defense materials market based on aluminum, titanium, composites, superalloys, steel, plastics covering the revenue growth of each sub-segment from 2018 to 2030.
Burgeoning threat of war from North Korea is leading the government to expedite border defense measures which in turn is expected to increase demand for fighter aircrafts and defense systems in the country.
South Korean aerospace and defense industry is majorly dominated by the players such as Korean Aerospace Industries (KAI) and Korean Air, which are involved in aerospace and parts manufacturing for Boeing and Airbus.
In addition, these players also exhibit a strong presence in the country’s aerospace and defense MRO sector. Since the government is incentivizing onshoring of MRO activities to promote local manufacturing of parts and components, the aerospace industry in the country is expected to witness a substantial growth in the coming year.
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Our clientele includes a mix of aerospace and defense materials market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea aerospace and defense materials market , including forecasts for subscribers. This country databook contains high-level insights into South Korea aerospace and defense materials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea aerospace and defense materials market size, by material, 2018-2030 (US$M)
South Korea Aerospace And Defense Materials Market Outlook Share, 2023 & 2030 (US$M)
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