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November 2, 2018

South Korean Air Force set to receive first Airbus A330 MRTT

The South Korean Air Force is reportedly ready to take delivery of its first Airbus A330 Multi Role Tanker Transport (MRTT).

The South Korean Air Force is reportedly ready to take delivery of its first Airbus A330 Multi Role Tanker Transport (MRTT).

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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
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A military official was quoted by South Korean news agency Yonhap as saying that the tanker is expected to arrive on 12 November.

With the completion of the delivery, the air-to-air refuelling and transport aircraft is expected to undergo a series of acceptance tests over a period of nearly one month, reported the news agency.

During the acceptance test, the South Korean Air Force intends to deploy the A330 MRTT tanker to refuel the service’s F-15K and KF-16 combat jets, the official said.

“With a width of 60m, the Rolls-Royce powered A330 MRTT is capable of carrying up to 240,000lb of fuel, which will be provided to the fighter fleets at predetermined aerial locations.”

Built by Airbus Defence and Space , the 59m-long aerial refuelling aircraft has been designed to enhance the operational capability of the Airforce ’s fighter aircraft fleet.

With a width of 60m, the Rolls-Royce powered A330 MRTT is capable of carrying up to 240,000lb of fuel, which will be provided to the fighter fleets at predetermined aerial locations.

The tanker pilots, mechanics and refuelling controllers have already completed their pre-training programme.

South Korea intends to include three more A330 tankers to its existing fleet next year.

In June 2015, the country selected the Airbus A330 MRTT as its future aerial refuelling platform.

Under the deal, the country agreed to acquire four tankers for a total cost of $1.3bn.

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Free Report
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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.

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