KAI eyes becoming Asia's aerospace leader by 2030

Korea Aerospace Industries (KAI) aims to become the No. 1 aerospace company in Asia and the world’s 20th largest player by attaining 10 trillion won in sales by 2030.

KAI is eyeing to increase its annual sales from three trillion won to five trillion won while expanding its order backlog from 18 trillion won to 25 trillion won by 2025.

According to KAI president Ahn Hyun-ho, the company’s growth will be driven by future air mobility, such as electric and hydrogen aircraft, satellites and space projectiles, manned and unmanned multi-function systems, air defense electronics, simulations, and software.

KAI recently signed a memorandum of understanding with Elbit Systems signed to cooperate in unmanned air vehicles, after inking a similar deal with Israel Aerospace Industries (IAI).

KAI plans to strengthen its capabilities in the ultra-small, medium-sized, and large satellites.

The company is targetting the urban air mobility (UAM) market, where it has acquired capability by developing helicopters, by forming a consortium rating with major Korean companies.