Republic of Korea: Aircraft Launching Gear Market 2024

Aircraft Launching Gear Market Size in Republic of Korea

The South Korean aircraft launching gear market reduced remarkably to $X in 2021, with a decrease of -50.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a abrupt curtailment. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Aircraft Launching Gear Exports

Exports from Republic of Korea

In 2021, shipments abroad of aircraft launching gear, deck-arrestor or similar gear and parts thereof increased by 55% to X tons, rising for the second consecutive year after two years of decline. In general, exports recorded strong growth. The most prominent rate of growth was recorded in 2014 when exports increased by 761%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, aircraft launching gear exports surged to $X in 2021. Overall, exports saw a slight expansion. The growth pace was the most rapid in 2014 when exports increased by 1,928% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The Philippines (X tons) was the main destination for aircraft launching gear exports from South Korea, with a 38% share of total exports. Moreover, aircraft launching gear exports to the Philippines exceeded the volume sent to the second major destination, the United States (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Philippines amounted to +72.9%.

In value terms, the Philippines ($X) remains the key foreign market for aircraft launching gear, deck-arrestor or similar gear and parts thereof exports from South Korea, comprising 48% of total exports. The second position in the ranking was held by the United States ($X), with a 4.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the Philippines totaled +33.4%.

Export Prices by Country

In 2021, the average aircraft launching gear export price amounted to $X per ton, falling by -14% against the previous year. Over the period under review, the export price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2014 when the average export price increased by 135%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Philippines stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+128.2%), while the prices for the other major destinations experienced more modest paces of growth.

Aircraft Launching Gear Imports

Imports into Republic of Korea

In 2021, overseas purchases of aircraft launching gear, deck-arrestor or similar gear and parts thereof decreased by -43.8% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 205%. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, aircraft launching gear imports declined dramatically to $X in 2021. In general, imports continue to indicate a drastic downturn. The growth pace was the most rapid in 2017 when imports increased by 316% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of aircraft launching gear to South Korea, accounting for a 27% share of total imports. Moreover, aircraft launching gear imports from France exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold. The third position in this ranking was taken by Spain (X kg), with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France amounted to +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+330.7% per year) and Spain (+41.2% per year).

In value terms, France ($X), the United Arab Emirates ($X) and Spain ($X) appeared to be the largest aircraft launching gear suppliers to South Korea, together comprising 59% of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of +302.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average aircraft launching gear import price amounted to $X per ton, increasing by 2.3% against the previous year. Over the period under review, the import price, however, showed a perceptible slump. The pace of growth appeared the most rapid in 2017 an increase of 157%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+32.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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