Korea Aerospace Industries (KAI) is aiming to continue to expand exports over the medium and long term, leveraging capabilities in a range of existing and future aerospace products.
Chan Hui Bae, KAI᾿s vice-president and general director for international business development, told
on 17 October that in 2018 the company’s exports accounted for about one-third of its total annual revenues of KRW2.78 trillion (USD2.34 billion).
KAI is aiming to position new products – such as its NI600VT unmanned helicopter (pictured) – in target export countries, particularly in emerging markets, over the coming few years. (IHS Markit/Jon Grevatt)
Speaking at the 2019 Seoul International Aerospace and Defense Exhibition (ADEX), which is being held from 15 to 20 October, Bae said that while that proportion is expected to decline slightly in the near term, KAI’s mid- and long-term targets are to re-expand international sales to approximately one-third of revenues. This means that as KAI’s sales volume gradually increases, so do exports, said BAE.
In terms of target export countries, Bae said KAI is aiming to achieve sales mainly to emerging markets in Southeast Asia, the Middle East, Latin America, and Africa.
In the near and medium terms, KAI’s key export products will continue to be the T-50 Golden Eagle advanced jet trainer aircraft and the FA-50 multirole fighter aircraft. Both have secured sales in recent years in Asia and the Middle East. Targets in the near term include the potential for sales of additional T-50s to Thailand and additional FA-50s to the Philippines.
Another promising platform for exports over the coming few years is the Surion Korean Utility Helicopter (KUH), said Bae. At ADEX, KAI exhibited an upgraded variant of the platform for export markets.