The import of aircraft under-carriages and parts thereof to South Korea is forecasted to grow steadily from 2024 to 2028. Specifically, the value increases from $192.24 million in 2024 to $199.3 million in 2025, $206.23 million in 2026, $213.02 million in 2027, and $219.67 million in 2028.
Assuming a static or negligible growth for 2023, the year-on-year (YoY) growth for 2024 is negligible. The YoY growth for the following years has been calculated as follows:
- 2025: Approximately 3.67%
- 2026: Approximately 3.48%
- 2027: Approximately 3.29%
- 2028: Approximately 3.12%
The Compound Annual Growth Rate (CAGR) over the five-year forecast period is approximately 3.39% annually from 2024 to 2028.
Future trends to watch for include potential changes in airline fleet expansion and renewal plans, shifts in global trade dynamics, and advancements in aircraft technology that may further influence the demand for these components.
