The export of aircraft parts from South Korea has shown a steady growth over the years, escalating from USD 1.0769 billion in 2013 to USD 2.0728 billion in 2023. The year-on-year growth rate has fluctuated, with notable peaks in 2014 and 2015 at around 23% and 19.29%, respectively. Despite a slight dip in growth in 2016 and 2020, the overall trend remained positive, leading to a compound annual growth rate (CAGR) of 4.05% over the last five years. In 2023, the value was recorded at 2.0728 billion USD.
Looking ahead, the forecasts up to 2028 predict a continued rise in the export value of aircraft parts, expecting to reach USD 2.4481 billion. The 5-year forecast CAGR from 2024 to 2028 stands at 2.67%, with an overall forecasted growth rate of 14.07% over the same period.
Future trends to watch for include advancements in aerospace technologies, increased demand for aircraft in emerging markets, and potential geopolitical impacts on trade. Monitoring these will be crucial in understanding the market dynamics and making informed decisions in the aerospace sector.
