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The South Korean Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017
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Product Synopsis
This report is the result of ICD Research / Strategic Defence Intelligence’
Introduction and Landscape
Why was the report written?
The South Korean defense Industry Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017 offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain market share in the South Korean defense industry.
What is the current market landscape and what is changing?
With an estimated market value of US$29 billion in 2012, South Korea has one of the largest defense industries in Asia. Furthermore, due to the threat from neighboring North Korea, South Korea’s defense expenditure is expected to grow rapidly during the forecast period to value US$43.3 billion in 2017. The economic growth of the country, its military modernization plan and the planned reduction in the size of its defense workforce are also expected to increase the size of the industry between 2012 and 2017. In accordance with these plans, the defense budget allocation for capital expenditure is also projected to increase, with the majority of expenditure allocated for the country’s army and air force.
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