Future of the South Korean Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2020

Future of the South Korean Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2020

Code: SDI-DF0332MR | Published: Aug-2015 | Pages: 164 | Strategic Defence Intelligence
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South Korea is one of the major economies within Asia with a considerable amount of security issues calling for a firm security posture. To combat the challenge posed by a nuclear threat from North Korea, of the need to replace obsolete military equipment, and a growing necessity for restructuring and modernization of the military, South Korea has introduced the Defense Reform Plan 2020 (DRP 2020) with an aim to transform the military into a smaller but more capable force. The South Korean defense industry is among the largest in Asia and in context of the threat posed by North Korea, the countrys defense expenditure is expected to grow at a healthy CAGR

Key Findings
- Over the historic period, South Korean defense expenditure registered a growth rate of 4.51%, increasing from US$28.3 billion in 2011 to US$33.7 billion in 2015

- South Koreas military expenditure, valued at US$33.7 billion in 2015, is expected to increase to US$46.7 billion by 2020, registering a CAGR of 7.38% over the forecast period

- South Koreas military expenditure will be driven by the nuclear threat from North Korea, acquisition of new technologies, reduction in reliance on imports and the modernization of its armed forces

- The Defense Ministry is expected to procure fighters and multi-role aircraft, cyber security, missiles and missile defense systems, infrastructure construction, and multi role aircraft MRO

Synopsis
Strategic Defense Intelligences report - Future of South Korean Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2020 offers detailed analysis of the industry with market size forecasts for the period 2016-2020 is done. Also, analysis of factors that influence demand for the industry, key market trends, and challenges faced by industry participants is covered.

In particular, it provides an in-depth analysis of the following:

- Defense industry market size and drivers: detailed analysis of the defense industry during 2016-2020, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the countrys expenditure and modernization patterns

- Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to the army, navy, and air force. It also details the key challenges faced by defense market participants within the country

- Porters Five Force analysis of the defense industry: analysis of the market characteristics by determining the bargaining power of suppliers, buyers, threat of substitution, intensity of rivalry, and barriers to entry

- Import and Export Dynamics: analysis of prevalent trends in the countrys imports and exports over the last five years

- Market opportunities: details of the top five defense investment opportunities from 2015 to 2025

- Competitive landscape and strategic insights: including an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis

Reasons To Buy
- Identify and track global defense market and make regional comparisons to effectively target new revenue streams

- Understand the importance of being led by the defense ministries in the military procurement market and define your strategies with insight on what your customers really want by analyzing recent orders, technical specifications and the countrys expected investment pattern during 2016-2020

- Make correct business decisions based on detailed analysis of the defense industry from 2016-2020 which includes the total competitive landscape of the sector with detailed profiles of the top domestic and foreign defense manufacturers along with information about their products, alliances, recent contract wins and financial analysis

- Determine prospective investment areas by gaining an in-depth understanding of the industry in terms of market opportunities

- Channelize resources by identifying various military requirements that are expected to generate revenues across different sectors during 2016-2020

Table of Contents

1 Introduction
1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. SDI Research Terrorism Index
1.5. About Strategic Defense Intelligence
2 Executive Summary
3 Market Attractiveness and Emerging Opportunities
3.1. Defense Market Size Historical and Forecast
3.1.1. South Korean defense expenditure expected to grow significantly during the forecast period
3.1.2. Nuclear threats from North Korea, acquisition of new technology, and reduction in reliance on imports set to drive defense expenditure
3.1.3. Military expenditure as a percentage of GDP is expected to remain at same levels during the forecast period
3.2. Analysis of Defense Budget Allocation
3.2.1. Capital expenditure share to increase over the next five years
3.2.2. Allocation of capital expenditure for Air Force expected to increase over the forecast period
3.2.3. Capital expenditure allocation for air force to be highest
3.2.4. Army capital expenditure to grow at a modest pace
3.2.5. Naval expenditure on new acquisitions expected to increase
3.2.6. Capital Expenditure allocation for C4ISR Systems expected to grow steadily
3.3. Homeland Security Market Size and Forecast
3.3.1. Homeland security (HLS) expenditure expected to grow steadily during the forecast period
3.3.2. The majority of terror threats are from North Korea
3.3.3. South Korea faces a minimal threat from foreign terrorist organizations
3.4. Benchmarking with Key Global Markets
3.4.1. South Korean defense expenditure expected to remain modest compared to leading spenders
3.4.2. The US and China dominate the global defense industry
3.4.3. South Korea allocates a significant percentage of GDP towards defense
3.4.4. South Korea has a moderate per-capita defense expenditure
3.4.5. South Korea faces negligible threat from foreign terrorist organizations
3.5. Market Opportunities: Key Trends and Growth Stimulators
3.5.1. Cyber Security
3.5.2. Fighters and Multi-Role Aircraft
3.5.3. Missile Defense System
3.5.4. Infrastructure Construction
3.5.5. Multi-mission and Maritime Helicopter
3.5.6. Multi-role Aircraft MRO
4 Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. Defense imports expected to increase during the forecast period
4.1.2. The US dominated South Korean defense imports during the historic period
4.1.3. Aircraft were the major defense imports during the period 2010-2014
4.2. Export Market Dynamics
4.2.1. Defense Exports Grew Considerably During the Historic period
4.2.2. Turkey dominates South Korean defense export market during the Historic period
4.2.3. Artillery accounts for the major defense exports during 2010-2014
5 Industry Dynamics
5.1. Five Forces Analysis
5.1.1. Bargaining power of supplier: low to medium
5.1.2. Bargaining power of buyer: medium to High
5.1.3. Barrier to entry: Medium
5.1.4. Intensity of rivalry: Medium
5.1.5. Threat of substitution: High
6 Market Entry Strategy
6.1. Market Regulation
6.1.1. Offset policy aids development of Domestic Defense Industry
6.1.2. FDI in the defense sector to become less complicated
6.2. Market Entry Route
6.2.1. Technology Transfer Provides Good Market Entry Opportunities
6.2.2. Research and Development Collaborations Offer Market Access
6.2.3. Joint Ventures and Licensing Agreements Open New Market Entry Strategy Choices
6.3. Key Challenges
6.3.1. Intense Emphasis on Technology Transfer
6.3.2. Industrial Disputes and Rigidity of Labor Market Deter Investment
7 Competitive Landscape and Strategic Insights
7.1. Competitive Landscape Overview
7.2. Key Public Sector Companies
7.2.1. Korea Aerospace Industries: overview
7.2.2. Korea Aerospace Industries: Major Products and Services
7.2.3. Korea Aerospace Industries: recent announcements and strategic initiatives
7.2.4. Korea Aerospace Industries: alliances
7.2.5. Korea Aerospace Industries: recent contract wins
7.2.6. Samsung Techwin: overview
7.2.7. Samsung Techwin: Major Products and Services
7.2.8. Samsung Techwin: recent announcements and strategic initiatives:
7.2.9. Samsung Techwin: Alliances
7.2.10. Samsung Techwin: Recent Contract Wins
7.2.11. Samsung Techwin: financial analysis
7.2.12. Hanwha Corporation: overview
7.2.13. Hanwha Corporation: Major products and services
7.2.14. Hanwha Corporation: recent announcements and strategic initiatives
7.2.15. Hanwha Corporation: alliances
7.2.16. Hanwha Corporation: recent contract wins
7.2.17. Hanwha Corporation: Financial Analysis
7.2.18. Hyundai Heavy Industries: overview
7.2.19. Hyundai Heavy Industries: products and services
7.2.20. Hyundai Heavy Industries: recent announcements and strategic initiatives
7.2.21. Hyundai Heavy Industries: alliances
7.2.22. Hyundai Heavy Industries: recent contract wins
7.2.23. Daewoo Shipbuilding and Marine Engineering: overview
7.2.24. Daewoo Shipbuilding: products and services
7.2.25. Daewoo Shipbuilding and Marine Engineering: recent announcements and strategic initiatives.
7.2.26. Daewoo Shipbuilding and Marine Engineering: alliances
7.2.27. Daewoo Shipbuilding and Marine Engineering: recent contract wins
7.2.28. Daewoo Shipbuilding and Marine Engineering: Financial Analysis
7.2.29. Huneed Technologies: overview
7.2.30. Huneed Technologies: products and services
7.2.31. Huneed Technologies: Recent Announcements and Strategic Initiatives
7.2.32. Huneed Technologies: Alliances
7.2.33. Huneed Technologies: recent contract wins
7.2.34. STX Engine: overview
7.2.35. STX Engine: products and services
7.2.36. STX Engine recent announcements and strategic initiatives
7.2.37. STX Engine: alliances
7.2.38. STX Engine: recent contract wins
7.2.39. STX Engine: Financial Analysis
7.2.40. SandT Dynamics overview
7.2.41. SandT Dynamics: products and services
7.2.42. SandT Dynamics: Recent Announcements and Strategic Initiatives
7.2.43. SandT Dynamics: Recent Contract Wins
7.2.44. SandT Dynamics: Financial Analysis
7.2.45. Poongsan Corporation: overview
7.2.46. Poongsan: products and services
7.2.47. Poongsan Corporation: recent announcements and strategic initiatives
7.2.48. Poongsan Corporation: alliances
7.2.49. Poongsan Corporation: recent contract wins
7.2.50. Poongsan Corporation: Financial Analysis
7.3. Key Private Sector Companies
7.3.1. Samsung Thales: overview
7.3.2. Samsung Thales: products and services
7.3.3. Samsung Thales: recent announcements and strategic initiatives
7.3.4. Samsung Thales: Alliances
7.3.6. Samsung Thales: Recent Contract Wins
7.3.7. LIG NEX1: overview
7.3.8. LIG NEX1: Major Products and Services
7.3.9. LIG NEX1: Recent announcements and strategic initiatives
7.3.10. LIG NEX1: Alliances
7.3.11. LIG NEX1: Recent Contract Wins
7.3.12. Doosan DST: Overview
7.3.13. Doosan DST: products and services
7.3.14. Doosan DST: Recent announcements and strategic initiatives
7.3.15. Doosan DST: Recent contract wins
8 Business Environment and Country Risk
8.1. Demographics and Social Statistics
8.1.1. Urban Population
8.1.2. Rural Population
8.1.3. Number of Households
8.2. Economic Performance
8.2.1. GDP Per Capita
8.2.2. GDP, Current Prices
8.2.3. Consumer Price Index
8.2.4. Wholesale Price Index
8.2.5. Local Currency Unit per USD
8.2.6. Lending Rate
8.2.7. Deposit Rate
8.2.8. Real Interest Rate
8.2.9. Goods Exports as % of GDP
8.2.10. Goods Imports as % of GDP
8.2.11. Goods Trade Surplus/Deficit as % of GDP
8.2.12. Service Imports as % of GDP
8.2.13. Service Exports as % of GDP
8.2.14. Service Trade Surplus/Deficit as % of GDP
8.2.15. Foreign Direct Investments
8.2.16. Net Foreign Direct Investments as % of GDP
8.2.17. International reserves, including gold
8.2.18. Market Capitalization of listed companies
8.2.19. Market Capitalization of listed companies as % of GDP
8.3. Energy and Utilities
8.3.1. Conventional Thermal Electricity Net Generation (Billion kWh)
8.3.2. Conventional Thermal Electricity Installed Capacity (Billion kW)
8.3.3. Petroleum Consumption
8.3.4. Total Non-Hydro Renewable Electricity Net Generation (Billion Kilowatts)
8.3.5. Hydroelectricity Net Generation (Billion Kilowatt Hours)
8.3.6. Nuclear Electricity Net Generation (Billion Kilowatt Hours)
8.4. Infrastructure
8.4.1. Air Transport, Freight (million ton-km)
8.4.2. Rail Lines
8.4.3. Roads, Total network
8.4.4. Overall Construction
8.5. Minerals
8.5.1. Mining, Manufacturing, Utilities Output
8.6. Technology
8.6.1. Patents Granted
8.6.2. Research and Development Expenditure
8.7. Telecommunication
8.7.1. Telephone lines
8.7.2. Telephone lines Penetration Rate
8.7.3. Mobile Cellular Subscriptions
8.7.4. Mobile cellular subscriptions Penetration Rate
9 Appendix
9.1. About SDI
9.2. Disclaimer

List of Tables


Table 1: South Korean Defense Expenditure (US$ billion), 2011-2015
Table 2: South Korean Defense Expenditure (US$ billion), 2016-2020
Table 3: South Korean Defense Expenditure (Local Currency), 2011-2015
Table 4: South Korean Defense Expenditure (Local Currency), 2016-2020
Table 5: South Korean GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2011-2015
Table 6: South Korean GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2016-2020
Table 7: South Korean GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2011-2015
Table 8: South Korean GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth (in local currency terms), 2016-2020
Table 9: South Korean Defense Budget Split Between Capital and Revenue Expenditure (%), 2011-2015
Table 10: South Korean Defense Budget Split Between Capital and Revenue Expenditure (%), 2016-2020
Table 11: South Korean Defense Capital Expenditure Breakdown (%), 2011-2015
Table 12: South Korean Defense Capital Expenditure Breakdown (%), 2016-2020
Table 13: South Korean Defense Capital Expenditure for the Air Force (US$ billion), 2011-2015
Table 14: South Korean Air Force Capital Expenditure (US$ billion), 2016-2020
Table 15: South Korean Defense Capital Expenditure for the Air Force ( KRW billion), 2011-2015
Table 16: South Korean Air Force Capital Expenditure (KRW billion), 2016-2020
Table 17: South Korean Defense Capital Expenditure for Army (US$ billion), 2011-2015
Table 18: South Korean Defense Capital Expenditure for Army (US$ billion), 2016-2020
Table 19: South Korean Defense Capital Expenditure for Army (KRW billion), 2011-2015
Table 20: South Korean Defense Capital Expenditure for Army (KRW billion), 2016-2020
Table 21: South Korean Defense Capital Expenditure for Navy (US$ billion), 2011-2015
Table 22: South Korean Defense Capital Expenditure for Navy (US$ billion), 2016-2020
Table 23: South Korean Defense Capital Expenditure for Navy (KRW billion), 2011-2015
Table 24: South Korean Defense Capital Expenditure for Navy (KRW billion), 2016-2020
Table 25: South Korean Defense Capital Expenditure for C4ISR (US$ billion), 2011-2015
Table 26: South Korean Defense Capital Expenditure for C4ISR (US$ billion), 2016-2020
Table 27: South Korean Defense Capital Expenditure for C4ISR (KRW billion), 2011-2015
Table 28: South Korean Defense Capital Expenditure for C4ISR (KRW billion), 2016-2020
Table 29: Benchmarking with Key Markets - 2011-2015 vs. 2016-2020
Table 30: SDI Terrorism Index
Table 31: Offset Regulations in South Korea
Table 32: Korean Aerospace Industries - Major Products and Services
Table 33: Korean Aerospace Industries - Alliances
Table 34: Korean Aerospace Industries - Recent Contract Wins
Table 35: Samsung Techwin - Major Products and Services
Table 36: Samsung Techwin - Alliances
Table 37: Samsung Techwin - Recent Contract Wins
Table 38: Hanwha Corporation - Major Products and Services
Table 39: Hanwha Corporation - Alliances
Table 40: Hanwha Corporation - Recent Contract Wins
Table 41: Hyundai Heavy Industries - Major Products and Services
Table 42: Hyundai Heavy Industries - Alliances
Table 43: Hyundai Heavy Industries - Recent Contract Wins
Table 44: Daewoo Shipbuilding and Marine Engineering - Major Products and Services
Table 45: Daewoo Shipbuilding and Marine Engineering - Alliances
Table 46: Daewoo Shipbuilding and Marine Engineering - Recent Contract Wins
Table 47: Huneed Technologies -Products and Services
Table 48: Huneed Technologies - Alliances
Table 49: Huneed Technologies - Recent Contract Wins
Table 50: STX Engine -Products and Services
Table 51: STX Engine - Alliances
Table 52: STX Engine - Recent Contract Wins
Table 53: SandT Dynamics -Products and Services
Table 54: SandT Dynamics - Recent Contract Wins
Table 55: Poongsan Corporation -Products and Services
Table 56: Poongsan Corporation - Alliances
Table 57: Poongsan Corporation - Recent Contract Wins
Table 58: Samsung Thales -Products and Services
Table 59: Samsung Thales - Alliances
Table 60: Samsung Thales - Recent Contract Wins
Table 61: LIG NEX1 -Products and Services
Table 62: LIG NEX1 - Alliances
Table 63: LIG NEX1 - Recent Contract Wins
Table 64: Doosan DST -Products and Services
Table 65: Doosan DST - Recent Contract Wins
Korea Aerospace Industries
Samsung Techwin
Hanwha Corporation
Daewoo Shipbuilding and Marine Engineering
Huneed Technologies
STX Engine
SandT Dynamics
Poongsan Corporation
Samsung Thales
LIG Nex1
Doosan DST

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