KAI Strives to Expand Global Presence
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KAI Strives to Expand Global Presence
Company posts 1.512 trillion won in sales and 176.2 billion won in operating profit in the first six months of this year, representing a 16 percent surge and a 31.8 percent jump over the same period of 2015, respectively

05(Sat), Nov, 2016




Korea Aerospace Industries (KAI) has been implementing mega-projects, including the Korea Fighter eXperimenta (KFX), dubbed as Korea’s biggest arms development project since the founding of the country’s Armed Forces, and the light-armed helicopter/light civil helicopter (LAH/LCH) project. 

KAI has also teamed up Lockheed Martine of the Unite States to land the U.S. advanced pilot training (APT) project. T-50A is an advanced trainer jet aircraft developed jointly by Lockheed Martin and Korea Aerospace Industries (KAI) for the US Air Force's T-X Advanced Pilot Training (APT) competition. It is an advanced version of the T-50 trainer craft. The strongest rivals of the KAI-Lockheed Martin team are consortiums, led by Boeing of the United States, Saab of Sweden, Northrop Grumman of the United States and BAE Systems of the United Kingdom. 

Under the U.S. APT project, the U.S. Air Force will replace its advanced trainer T-38s. The international bidding is to go in high gear when it will send requests for proposals later this year. 

If the KAI-Lockheed Martin team is selected as the successful bidder, KAI will secure the initial 350 advanced trainers the U.S. Army wants to replace and additional advanced trainers, as well as advanced trainer aircraft markets in third countries, a KAI official said. 

KAI is Korea’s biggest aerospace company. Its business portfolio includes aircraft, helicopters, aircraft parts, performance improvements on unmanned aircraft vehicles (UVA), KPX, homegrown jets, and multi-purpose satellite programs. 

The KPX project calls for the development, mass production and exportation of a middle-class fighter as a replacement to the aging F-4s and F-5s, Korean Air force’s major fighters, in a joint international development. KAI will launch its own development this year and mass-produce the fighter by 2024. It has a target of mass-producing 1,000 fighters, including 430 jets for domestic use and 570 for export. 

The LAH/LCH program is to replace ROK’s aging attack helicopters AH-IS/500MDs and capture the market for commercial small-sized helicopters, integrated military and commercial into a single platform, to maximize interoperability. The strategy is going to aid KAI’s global ambitions. The KPX program calls for mass-producing helicopters in 2021. KAI plans to produce 1,000 helicopters — 430 for domestic use and 570 for export. The value of the project will stand at 23 trillion won and create 130,000 jobs. On top of homegrown aircraft production, KAI is expanding its business portfolios to pilot/maintenance crew education, and aerospace support and follow-up support facilities. 

The company made a splash in the global aerospace market as it has developed and exported the basic Korean-developed KT-1 trainer, a first in Korea, and the T-50 aircraft, a homegrown supersonic advanced trainer, as well as the Korean Utility Helicopter (Surion), Korea’s homegrown helicopter. 

KAI has a vision of becoming a total solution provider. The company plans to expand exports of the basic KT-1 to such countries as Senegal, Turkmenistan, Paraguay and Rwanda, while the T-50 will be marketed in Peru, Botswana and Kuwait. 

The MRO (maintenance, repair and overhaul) segment is KAI’s “future core area.” KAI will likely see the winning MRO orders surge from 600 billion won in 2016 to 1.7 trillion won in 2020.  

KAI has declared a vision of logging 10 trillion won in sales by 2020 to become one of the top 15 aerospace companies in the world. The company has a target of 20 trillion won in sales to join the ranks of the top six aerospace providers in the world. 

KAI has logged excellent sales figures as it has begun to mass-produce T-50s and Surion helicopters. 

KAI chalked up 1.512 trillion won in sales in the first six months of this year, a 16 percent surge from the same period last year. The company posted 176.2 billion won in operating profit, a 31.8 percent jump from 133.6 billion won in the same period of 2015. 

KAI has posted its best-ever financial results in the two most recent years. 

The company raked up 2.901 trillion won in sales last year, a 25.3 percent jump from 2.314 trillion won in 2014. 

The company saw its operating profit surge to 285.7 billion won, a 77.1 percent increase over the 161.2 billion won recorded in 2014. In particular, last year KAI saw winning orders swell to 10 trillion won, a 4.16-fold jump, and order backlogs surged 63 percent to 18 trillion won. 

KAI is changing from a domestically-focused company to an export-oriented one, with a portion of exports climbing to 62 percent. The company aims at posting 3.5 trillion won in sales, 350 billion won in operating profit and 6.5 trillion won in winning orders. Korea Aerospace Industries (KAI) is Korea’s biggest aerospace company.

   
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