The aerospace industry imports in South Korea were valued at $4.79 billion in 2023, showing an increase of 8.93% compared to 2022. Looking at the trends, the import values have shown variability over the years but generally exhibit a growth trend. From 2013 to 2023, the CAGR was 3.16%. From 2024 onward, the import values are forecasted to grow at an average annual rate of 1.14%, reaching $5.14 billion by 2028.
Future trends to watch for:
- A potential rise in imports driven by advancements in aerospace technology.
- Geopolitical factors influencing trade regulations and supply chains.
- Emergence of new market players and innovative products.
