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October 5, 2020updated 12 Oct 2020 4:37pm

Philippines explores plans to buy South Korean UH-1H and MD500 helicopters

Philippine Secretary of National Defense Delfin Lorenzana has announced plans to purchase UH-1H and MD500 helicopters from the Republic of Korea.

Philippine Secretary of National Defense Delfin Lorenzana has announced plans to purchase UH-1H and MD500 helicopters from the Republic of Korea.

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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 GlobalData
Enter your details here to receive your free Report.

The Philippine Information Agency added that Lorenzana also revealed plans to carry out Joint Visual Inspection (JVI) in the fourth quarter of this year.

It will be carried out by a team made of the Philippines’ Department of National Defense (DND) and the Armed Forces of the Philippines’ representatives.

The JVI will follow ‘strict biosafety protocols’ that are in place due to the Covid-19 pandemic.

The acquisition of the UH-1H and MD500 helicopters is said to be in the exploratory phase. Details of the timeline and quantity have not been finalised.

In a separate development, the last two of the six new Embraer Defense and Security A-29 ‘Super Tucano’ close-air support aircraft landed at Clark Air Base near Manila.

Philippine News Agency (PNA) reported DND spokesperson Arsenio Andolong as saying: “The two remaining Super Tucanos arrived yesterday (Thursday).

“The first aircraft touched down at 1304H (1:04 pm) and followed by the other at 1327H (1:27 pm).”

The helicopters are expected to boost the 15th Strike Wing of the Philippines Air Force (PAF).

The first four of the A-29 helicopters were delivered last month after the initial delivery schedule was postponed due to the Covid-19 pandemic.

As a part of the agreement, PAF pilots will be trained by Embraer pilots for two months.

Last month, the US delivered four A-29 Super Tucano aircraft to the Afghan Air Force as part of the Nato-led Resolute Support Mission.

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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 GlobalData
Enter your details here to receive your free Report.

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