Republic of Korea: Radar Apparatus Market 2024

Radar Apparatus Market Size in Republic of Korea

The South Korean radar apparatus market dropped to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption recorded a perceptible downturn. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Radar Apparatus Production in Republic of Korea

In value terms, radar apparatus production fell modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Radar Apparatus Exports

Exports from Republic of Korea

In 2022, shipments abroad of radar apparatus, radio navigational aid apparatus and radio remote control apparatus increased by X% to X units, rising for the second year in a row after four years of decline. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, radar apparatus exports skyrocketed to $X in 2022. In general, total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units), the United States (X units) and the Philippines (X units) were the main destinations of radar apparatus exports from South Korea, with a combined X% share of total exports. Vietnam, India, Thailand, Hong Kong SAR, Poland, Mexico, the UK, Japan, Turkey and Germany lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for radar apparatus exported from South Korea were the United States ($X), Vietnam ($X) and India ($X), together comprising X% of total exports. China, the Philippines, Mexico, Japan, Turkey, Thailand, Poland, the UK, Germany and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Mexico, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average radar apparatus export price stood at $X per unit in 2022, shrinking by X% against the previous year. In general, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, radar apparatus export price decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Radar Apparatus Imports

Imports into Republic of Korea

After two years of decline, overseas purchases of radar apparatus, radio navigational aid apparatus and radio remote control apparatus increased by X% to X units in 2022. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, radar apparatus imports rose slightly to $X in 2022. Overall, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest radar apparatus supplier to South Korea, accounting for a X% share of total imports. Moreover, radar apparatus imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. France (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and France (X% per year).

In value terms, the United States ($X) constituted the largest supplier of radar apparatus, radio navigational aid apparatus and radio remote control apparatus to South Korea, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average radar apparatus import price amounted to $X per unit, growing by X% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, radar apparatus import price decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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