TechNavio 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.
Commenting on the report, an analyst from TechNavio’s team said: “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. ”
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.
Further, the report states that South Korean commercial airlines rely on the import of commercial aircraft from the US and other countries. There is no company engaged in the complete manufacturing of commercial aircraft in South Korea. KAI is the only player capable of building aircraft in South Korea, and currently it manufactures only defense aircraft. Thus, it is a major challenge confronting the Commercial Aircraft Manufacturing market in South Korea to find players for the domestic production of commercial aircraft to reduce its dependence on imports.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/commercial-aircraft-manufacturing-market…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/automotive-and-aerospace
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TechNavio Announces the Publication of its Research Report -Commercial Aircraft Manufacturing Market in South Korea 2014-2018
