Dallas, TX -- (SBWIRE) -- 11/03/2010 -- This report offers insights into the market opportunities and entry strategies adopted by foreign OEMs (original equipment manufacturers) to gain a market share in the South Korean defense industry. In particular, it offers in-depth analysis of the following:
Market opportunity and attractiveness: detailed analysis of the current industry size and growth expectations during 2010–2015, including highlights of the key growth stimulators. It also benchmarks the industry against key global markets and provides detailed understanding of emerging opportunities in specific areas.
Procurement dynamics: trend analysis of imports and exports, together with its implications and impact on the South Korean defense industry. Industry structure: five forces analysis to identify various power centers in the industry and how these are likely to develop in the future.
Market entry strategy: analysis of possible ways to enter the market, together with detailed descriptions of how existing players have entered the market, including key contracts, alliances, and strategic initiatives. Competitive landscape and strategic insights: analysis of competitive landscape of the defense industry in South Korea. It provides an overview of key defense companies (both domestic and foreign), together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
Business environment and country risk: a range of drivers at country level, assessing business environment and country risk. It covers historical and forecast values for a range of indicators, evaluating business confidence, economic performance, infrastructure quality and
availability, labor force, demographics, and political and social risk.
Table Of Contents
1 Introduction
1.1 About this Report
1.2 Definitions
1.3 Methodology
1.3.1 Secondary research
1.3.2 Primary research
1.3.3 Conventions
1.4 ICD Research Terrorism Index
1.5 About ICD Research Defense Intelligence Center
2 Executive Summary
3 Market Attractiveness and Emerging Opportunities
3.1 Defense Market Size and Forecast
3.1.1 South Korean annual defense expenditure to reach US$32.5 billion by 2015
3.1.2 Nuclear threat from North Korea, reduction in personnel, acquisition of new technology, economic growth, and reduction in reliance on imports set to drive growth of defense expenditure
3.1.3 Defense expenditure as a percentage of GDP expected to remain at current levels in the forecast period
3.2 Analysis of Defense Budget Allocation
3.2.1 Capital expenditure allocation to increase during the forecast period
3.2.2 Funding for research and development set to increase
3.2.3 Air force expenditure is likely to continue to dominate capital expenditure budget
3.2.4 Capital expenditure allocation for army to grow at a CAGR of 11.04% during the forecast period
3.2.5 Capital expenditure allocation for navy to grow at a CAGR of 10.37% during the forecast period
3.2.6 Capital expenditure allocation for surveillance and communication to grow at the fastest rate
3.3 Homeland Security Market Size and Forecast
3.3.1 Homeland security market expected to grow steadily during the forecast period
3.3.2 The majority of terror threats come from North Korea
3.3.3 South Korea experienced minimal terror activity during the review period
3.4 Benchmarking with Key Global Markets
3.4.1 South Korea has one of the largest defense industries in the world
3.4.2 The US and China dominate the global defense industry
3.4.3 South Korea allocates significant percentage of GDP towards defense
3.4.4 South Korea ranked third among top arms importing countries during the review period
3.4.5 South Korea ranked seventeenth among top arms exporting countries during the review period
3.5 Market Opportunities: Key Trends and Growth Stimulators
3.5.1 Demand for armored vehicles expected to grow
3.5.2 JDAMs expected to provide attractive market opportunities
3.5.3 Plans to procure fighter and VIP aircraft expected to boost interest among suppliers
3.5.4 Demand for multi-mission helicopters and anti-mine equipment expected to increase
3.5.5 Naval modernization plan expected to create demand for war ships
3.5.6 Procurement plan will drive demand for ground force equipment such as tanks, rocket launchers and trucks
4 Defense Procurement Market Dynamics
4.1 Import Market Dynamics
4.1.1 Defense imports expected to grow considerably in the next five years
4.1.2 US share of arms sales witnesses decline
4.1.3 Aircraft constitute majority of South Korean arms imports
4.2 Export Market Dynamics
4.2.1 Defense exports grew considerably during the review period
4.2.2 Indonesia and Turkey are the largest importers of South Korean arms
4.2.3 Ships and artillery account for majority of exports
5 Industry Dynamics
5.1 Five Forces Analysis
5.1.1 Bargaining power of supplier: low
5.1.2 Bargaining power of buyer: high
5.1.3 Barrier to entry: medium
5.1.4 Intensity of rivalry: medium
5.1.5 Threat of substitution: high
6 Market Entry Strategy
6.1 Market Regulation
6.1.1 Offset policy aids development of domestic defense industry
6.1.2 Foreign direct investment in defense sector to become less complicated
6.2 Market Entry Route
6.2.1 Technology transfer provides good market entry opportunities
6.2.2 Research and development collaborations offer market access
6.2.3 Joint ventures and licensing agreements open new market entry strategy choices
6.3 Key Challenges
6.3.1 Intense emphasis on technology transfer
6.3.2 Industrial disputes and rigidity of labor market deter investment
7 Competitive Landscape and Strategic Insights
7.1 Competitive Landscape Overview
7.2 Key Public Sector Companies
7.2.1 Korea Aerospace Industries: overview
7.2.2 Korea Aerospace Industries: products and services
7.2.3 Korea Aerospace Industries: recent announcements and strategic initiatives
7.2.4 Korea Aerospace Industries: alliances
7.2.5 Korea Aerospace Industries: recent contract wins
7.2.6 Korea Aerospace Industries: financial analysis
7.2.7 Samsung Techwin: overview
7.2.8 Samsung Techwin: products and services
7.2.9 Samsung Techwin: recent announcements and strategic initiatives
7.2.10 Samsung Techwin: alliances
7.2.11 Samsung Techwin: recent contract wins
7.2.12 Samsung Techwin: financial analysis
7.2.13 Hanwha Corporation: overview
7.2.14 Hanwha Corporation: products and services
7.2.15 Hanwha Corporation: recent announcements and strategic initiatives
7.2.16 Hanwha Corporation: alliances
7.2.17 Hanwha Corporation: recent contract wins
7.2.18 Hanwha Corporation: financial analysis
7.2.19 Hyundai Heavy Industries: overview
7.2.20 Hyundai Heavy Industries: products and services
7.2.21 Hyundai Heavy Industries: recent announcements and strategic initiatives
7.2.22 Hyundai Heavy Industries: alliances
7.2.23 Hyundai Heavy Industries: recent contract wins
7.2.24 Hyundai Heavy Industries: financial analysis
7.2.25 Daewoo Shipbuilding & Marine Engineering: overview
7.2.26 Daewoo Shipbuilding & Marine Engineering: products and services
7.2.27 Daewoo Shipbuilding & Marine Engineering: recent announcements and strategic initiatives
7.2.28 Daewoo Shipbuilding & Marine Engineering: alliances
7.2.29 Daewoo Shipbuilding & Marine Engineering: recent contract wins
7.2.30 Daewoo Shipbuilding & Marine Engineering: financial analysis
7.2.31 Huneed Technologies: overview
7.2.32 Huneed Technologies: products and services
7.2.33 Huneed Technologies: recent announcements and strategic initiatives
7.2.34 Huneed Technologies: alliances
7.2.35 Huneed Technologies: recent contract wins
7.2.36 Huneed Technologies: financial analysis
7.2.37 STX Engine: overview
7.2.38 STX Engine: products and services
7.2.39 STX Engine: recent announcements and strategic initiatives
7.2.40 STX Engine: alliances
7.2.41 STX Engine: recent contract wins
7.2.42 STX Engine: financial analysis
7.2.43 S&T Dynamics: overview
7.2.44 S&T Dynamics: products and services
7.2.45 S&T Dynamics: recent announcements and strategic initiatives
7.2.46 S&T Dynamics: alliances
7.2.47 S&T Dynamics: recent contract wins
7.2.48 S&T Dynamics: financial analysis
7.2.49 Poongsan Corporation: overview
7.2.50 Poongsan Corporation: products and services
7.2.51 Poongsan Corporation: recent announcements and strategic initiatives
7.2.52 Poongsan Corporation: alliances
7.2.53 Poongsan Corporation: recent contract wins
7.2.54 Poongsan Corporation: financial analysis
7.3 Key Private Sector Companies
7.3.1 Samsung Thales: overview
7.3.2 Samsung Thales: products and services
7.3.3 Samsung Thales: recent announcements and strategic initiatives
7.3.4 Samsung Thales: alliances
7.3.5 Samsung Thales: recent contract wins
7.3.6 Samsung Thales: financial analysis
7.3.7 LIG NEX1: overview
7.3.8 LIG NEX1: products and services
7.3.9 LIG NEX1: recent announcements and strategic initiatives
7.3.10 LIG NEX1: alliances
7.3.11 LIG NEX1: recent contract wins
7.3.12 LIG NEX1: financial analysis
7.3.13 Doosan DST: Overview
7.3.14 Doosan DST: products and services
7.3.15 Doosan DST: recent announcements and strategic initiatives
7.3.16 Doosan DST: alliances
7.3.17 Doosan DST: recent contract wins
7.3.18 Doosan DST: financial analysis
8 Business Environment and Country Risk
8.1 Business Confidence
8.1.1 Business Confidence Index
8.1.2 Market Capitalization Trend – KRX Korea Exchange, South Korea
8.2 FDI Inflows by Sector
8.3 Economic Performance
8.3.1 GDP at Constant Prices
8.3.2 GDP per Capita at Constant Prices
8.3.3 GDP at Current Prices
8.3.4 GDP Per Capita at Current Prices
8.3.5 GDP Split by Key Segments
8.3.6 Agriculture – Agriculture Net Output Value at Current Prices (Local Currency)
8.3.7 Agriculture – Agriculture Net Output Value at Current Prices (US Dollar)
8.3.8 Agriculture – Agriculture Net Output at Current Prices as Percentage of GDP
8.3.9 Manufacturing – Manufacturing Net Output at Current Prices (Local Currency)
8.3.10 Manufacturing – Manufacturing Net Output at Current Prices (US Dollar)
8.3.11 Manufacturing – Manufacturing Net Output-Current Prices as Percentage of GDP
8.3.12 Manufacturing – Mining, Manufacturing, and Utilities at Current Prices (Local Currency)
8.3.13 Manufacturing – Mining, Manufacturing, Utilities at Current Prices (US Dollars)
8.3.14 Manufacturing – Mining, Manufacturing, Utilities at Current Prices, as Percentage of GDP
8.3.15 Construction – Construction Net Output at Current Prices, (Local Currency)
8.3.16 Construction – Construction Net Output-Current Prices
8.3.17 Construction – Construction Net Output-Current Prices as a % of GDP
8.3.18 Industry - Crude Steel Production
8.3.19 Industry - Crude Oil Consumption
8.3.20 Inflation Rate
8.3.21 Fiscal Deficit as a Percentage of GDP
8.3.22 Trade Balance as a Percentage of GDP
8.3.23 Exports as a Percentage of GDP
8.3.24 Imports as a Percentage of GDP
8.3.25 Exports Growth
8.3.26 Imports Growth
8.3.27 External Debt as Percentage of GDP
8.3.28 Exchange Rate US$-KRW (Annual Average)
8.3.29 Exchange Rate US$-KRW (End of Fiscal)
8.3.30 Debt Service Ratio
8.4 Infrastructure Quality and Availability
8.4.1 Transport – Total Airports and Ports
8.4.2 Transport - Passenger Vehicle Production Volume
8.4.3 Transport - Commercial Vehicle Production Volume
8.4.4 Transport - Automotive Components Export Trend
8.4.5 Transport - Automotive Products Import Trend
8.4.6 Transport - Passenger Car Penetration
8.4.7 Utilities - Total Installed Capacity for Electricity Generation
8.4.8 Utilities - Installed Capacity for Conventional Thermal Electricity Generation
8.4.9 Utilities - Electricity Production
8.4.10 Utilities - Installed Capacity for Hydro-electricity Generation
8.4.11 Utilities - Installed Capacity for Renewable Electricity Generation
8.4.12 Utilities - Electric Power Consumption
8.4.13 Healthcare - Healthcare Expenditure
8.4.14 Healthcare - Healthcare Expenditure as % GDP
8.4.15 Healthcare - Healthcare Expenditure Per Capita
8.4.16 Communication - Total Internet Subscribers
8.4.17 Communication - Broadband Internet Subscribers
8.4.18 Communication - Personal Computer penetration
8.4.19 Communication – Mobile Phone Penetration Rate
8.5 Labor Force
8.5.1 Labor Force
8.5.2 Unemployment Rate
8.6 Demographics
8.6.1 Annual Disposable Income
8.6.2 Annual Per Capita Disposable Income
8.6.3 Annual Consumer Expenditure on Food
8.6.4 Annual Per Capita Consumer Expenditure on Food
8.6.5 Urban and Rural Population
8.6.6 Female as Percentage of Population
8.6.7 Male as Percentage of Population
8.6.8 Mean Age of Population
8.6.9 Median Age of Population
8.6.10 Population Density
8.6.11 Age Distribution – Total Population
8.6.12 Age Distribution-Male Population
8.6.13 Age Distribution-Female Population
8.6.14 Number of Households
8.7 Political and Social Risk
8.7.1 Political Stability
8.7.2 Terrorism Index
8.7.3 Transparency Index
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