1. Aerospace Korea, Where Success Knows No Limits 2 Index 1. Global Aerospace Industry3 2. Korean Aerospace Industry4 3. Government Policies12 3. Foreign.

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Presentation transcript:

1

Aerospace Korea, Where Success Knows No Limits 2 Index 1. Global Aerospace Industry3 2. Korean Aerospace Industry4 3. Government Policies12 3. Foreign Direct Investment in Korea’s Aerospace Industry Success Case

Global Aerospace Industry Current Status  The global aerospace market was estimated at USD 450 billion in 2012 in terms of production. The global aerospace market is expected to post a CAGR of 4.2% to reach USD 680 billion in 2023, up 1.5 times compared to (Unit : USD bn) Source: Teal Group; Forecast International, 2010 Basic Development Plan for Aviation Industry Global aerospace industry market by segment and year

Korean Aerospace Industry Market Size 4  Supply side: Total production increased 34% YoY to USD 3.6 billion in  Demand side: Exports reached a record-high in 2013, with a three-year CAGR of 19.5%. Source: Korea Civil Aviation Development Association Demand side Supply side (Unit : USD mn)

Korean Aerospace Industry Aerospace Export Markets of Korea Source: Korea Civil Aviation Development Association USD 764 mn (46%) USD 210 mn (13%) USD 194 mn (12%)  Korea’s aerospace exports are mostly headed for the USA (46%) and Europe (25%), followed by Indonesia (12%), Japan (9%), Peru (3%) and the UAE (2%). 5

Korean Aerospace Industry Aerospace production of Korea 6 USD mnUSD 78 mn (Unit: USD mn) SpaceSpaceAviationAviation Source: Korea Civil Aviation Development Association Launcher, 31 31

Korean Aerospace Industry Employment in the Korean Aerospace Industry in ,648 people463 people Source: Korea Civil Aviation Development Association SpaceSpaceAviationAviation  The number of employees in the Korean aerospace industry has remained at the 10,000 level since Administration1,644 R&D1,801 Technician4,132 Other (production) 3,071 Administration64R&D278 Technician121

Korean Aerospace Industry Technology Overview 8 Source: 2013 Space Development Action Plan TypeUse Development & launching completed Under development (target year) (target year) Artificial satellite Science technology satellite Uribyol -1·2·3, Science Technology Satellite 1·2, Naro Science Satellite Next-generation small satellite (2016), Next-generation midsize satellite (2018) Korea Multi-Purpose Satellite Arirang 1·2·3Arirang 3A·6 (2014, 2017) Satellite in geostationary orbit Chollian Geostationary meteorological satell ite, (2017) Ocean environment satellite (2018) Launch system Science rocketKSR 1·2·3- Space launching vehicle Naro 1·2·3 (2009, 2010, 2013) Korean indigenous launcher development (2021) Naro Space CenterStage 1 (2009)Stage 2 (2021)

Korean Aerospace Industry Potential of Korea’s Aerospace Industry 9 Source : MOTIE, 2010 Basic Development Plan for the Aviation Industry  Given supply and demand dynamics in Korea and abroad, related industries, infrastructure and R&D capability, Korea’s aerospace industry has strong growth potential. Production outlook for the aerospace industry of Korea Aircraft

SpaceSpaceAviationAviation Korean Aerospace Industry Market Players 10 KAI Samsung Techwin Korean Air  The Korean aviation industry is driven by three companies - KAI, Samsung Techwin and Korean Air.  Most Korean companies in the space industry are small, but the outlook is bright. CompaniesMajor products KAIFully built aircraft Samsung TechwinAircraft engines Korean AirAircraft parts HanwhaHydraulic machinery The number of companies operating in the space business gradually increased.

Korean Aerospace Industry 11 Promising Areas & Regions R&D Daejeon South Gyeongsang Province Fully built aircraft, related parts segments, fuselage, aircraft parts and engines North Gyeongsang Province Aircraft parts and materials North Chungcheong Province MRO Busan Aircraft parts and materials, MRO, fuselage, aircraft parts & engines

Government Policies Government Plans

Government Policies Aerospace Industry-Related Legislation 13LegislationDescription Aerospace Industry Develo pment Promotion Act - The Aerospace Industry Development Promotion Act states measures to promote the aer ospace industry; designates related items and aerospace- specialized complexes; and specif ies related support. (Ministry of Trade, Industry & Energy) Space Development Promotion Act - The Space Development Promotion Act prescribes basic plans and their implementation to promote space development in various areas, such as international cooperation; designates organizations specializing in space development; regulates the registration of spacecraft in Ko rea and abroad and the approval of the launching of spacecraft, such as satellites. (Ministry of Science, ICT and Future Planning) Aviation Act - The Aviation Act establishes the framework for the transportation market, such as aviation operation and facilities; regulates aircraft registration, changes, transfer, aircraft maintenance and handling, maintenance organizations and airworthiness certification. (Ministry of Land, Infrastructure and Transport) Defense Acquisition Program Act - The Defense Acquisition Program Act establishes procedures and systems for defense capab ility building projects; regulates the promotion of the defense industry and military article pr ocurement; and promotes the defense industry in areas such as national defense technologie s and exports. (Ministry of National Defense) Legislation related to the aerospace industry

Foreign Direct Investment in Korea’s Aerospace Industry Boeing Korea’s Investments in Avionics MRO (BAMRO) in North Gyeongsang Province 14 BAMRO’s business investment factor Asia-Pacific region’s long-term demand for avionics and MRO Expectations for the Korean government’s new Performance-Based Logistics (PBL) program (AWACS, APACHE, air-to-air refueling (AAR)) External factors Internal factors Internal factors Demand from PBL contract, such as F- 15K (target utilization rate at 93%) Cost savings in PPS (post-production service) thanks to superb accessibility to Korean air force bases (Daegu, Gimhae, etc.) Attractive incentives (free lease) from the Korean government and regional authorities (Yeongcheon, North Gyeongsang Province)

Foreign Direct Investment in Korea’s Aerospace Industry Boeing Korea’s Investments in Avionics MRO (BAMRO) in North Gyeongsang Province 15 BAMRO project milestone Sept May 2013 Oct May 2014 June

Foreign Direct Investment in Korea’s Aerospace Industry Boeing Korea’s Investments in Avionics MRO (BAMRO) in North Gyeongsang Province 5-stage BAMRO project plan Source: Boeing’s business prospectus (preliminary), 2014 Stage 1 (2014~) Stage 2 (2016~ ) Stage 3 (2018~ ) Stage 4 (N/A) Stage 5 (N/A)  F-15K LRU  F-15K SRU  F-15K LRU  AEW&C LRU  F-15K LRU, SRU  AEW&C LRU  Apache and other K orean aircraft LRU  Chinook helicopters  Other Korean aircraft LRU, SRU  AEW&C parts  BAMRO, in Yeongcheon, North Gyeongsang Province, will be in charge of the testing and maintenance of electronic parts for F-15K fighter jets at Daegu Air Force Base (K2). 16