2030 Sales Target Set at 10 Tril. Won
Korea Aerospace Industries (KAI) aims to attain 10 trillion won in sales by 2030 to become the No. 1 aerospace company in Asia and the world’s 20th largest player in the world.
KAI president Ahn Hyun-ho disclosed the vision at a news conference held at COEX in Seoul on April 2. To this end, KAI plans to boost its annual sales from three trillion won to five trillion won and expand its order backlog from 18 trillion won to 25 trillion won by 2025.
Ahn said the company’s growth will be driven by future air mobility (electric and hydrogen aircraft), manned and unmanned multi-function systems, satellites and space projectiles, air defense electronics, simulations and software.
In order to achieve its vision, KAI is planning to zoom in on the space business, with the focus on satellites. It plans to strengthen its capabilities in the ultra-small, medium-sized and large satellites.
In particular, KAI is planning to target the urban air mobility (UAM) market based on its aviation capabilities. "The core of UAM is vertical and autonomous take-off and landing. We already have this capability as we have developed helicopters," Ahn said. "In the UAM business, we are considering forming a consortium rating with major Korean companies."