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December 3, 2020

South Korea to trial suicide UAVs and offensive drones next year

South Korea is reportedly planning to trial suicide unmanned aerial vehicles (UAVs) and offensive drones next year as it seeks to bolster its capabilities to better respond to future battle environments.

South Korea is reportedly planning to trial suicide unmanned aerial vehicles (UAVs) and offensive drones next year as it seeks to bolster its capabilities to better respond to future battle environments.

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What is driving and impacting South Korea’s Defense Market?

South Korea’s defense budget is currently valued at $48.3 billion after experiencing impressive and robust annual growth of 10.5% in 2022. Over the forecast period, South Korean defense expenditure is anticipated to register a strong CAGR of 6.3% over 2023-27 and reach $66.2 billion by 2027. The country’s acquisition budget, which includes research and development (R&D) funding, is also anticipated to register significant growth, projected to reach $21.6 billion in 2027, seeing significant rise from the anticipated $17 billion in 2023. South Korean defense spending is continuing to be fueled by the country’s hostile relationship with North Korea, coupled with the need to develop its own domestic industry. If you want to strategize successfully off this growing market, it is important to be fully informed. This report’s key findings include:
  • Details on the defense budget
  • Drivers of defense spending
  • Key trends impacting the market
Download the full report so you can formulate winning strategies for the road ahead.
by GD50 ADS
Enter your details here to receive your free Report.

The Defense Acquisition Program Administration of the country has entered contracts with companies to procure three types of drones, Yonhap News Agency reported citing the arms procurement agency.

The procurement will include suicide UAVs, drones capable of firing ground targets and small-sized drones for surveillance and offensive operations.

The agency intends to deploy the drones for trials in the next three to six months.

Defense Acquisition Program Administration agency chief Wang Jung-hong was quoted by the news agency as saying: “The rapid acquisition project is aimed at applying the private sector’s fast-evolving new technologies to the military.

“It is expected to be an innovative model to improve defence capabilities down the road.”

The acquisition will be made under a rapid acquisition project, which was launched in May to facilitate the procurement of new military technologies.

Last month, the South Korean Government reportedly approved mass production of a new kind of tactical ground-based missile after its neighbour North Korea unveiled new kind of intercontinental ballistic missiles (ICBMs) at a military parade.

The South Korean missiles will be designed to neutralise underground artillery bases.

It is expected to deliver more than 200 Korean Tactical Surface to Surface Missiles (KTSSM) missiles by 2025.

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Free Report
img

What is driving and impacting South Korea’s Defense Market?

South Korea’s defense budget is currently valued at $48.3 billion after experiencing impressive and robust annual growth of 10.5% in 2022. Over the forecast period, South Korean defense expenditure is anticipated to register a strong CAGR of 6.3% over 2023-27 and reach $66.2 billion by 2027. The country’s acquisition budget, which includes research and development (R&D) funding, is also anticipated to register significant growth, projected to reach $21.6 billion in 2027, seeing significant rise from the anticipated $17 billion in 2023. South Korean defense spending is continuing to be fueled by the country’s hostile relationship with North Korea, coupled with the need to develop its own domestic industry. If you want to strategize successfully off this growing market, it is important to be fully informed. This report’s key findings include:
  • Details on the defense budget
  • Drivers of defense spending
  • Key trends impacting the market
Download the full report so you can formulate winning strategies for the road ahead.
by GD50 ADS
Enter your details here to receive your free Report.

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