Republic of Korea: Radar Apparatus Market 2024

Radar Apparatus Market Size in Republic of Korea

In 2022, the South Korean radar apparatus market decreased by less than X% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, showed a perceptible shrinkage. Radar apparatus consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Radar Apparatus Production in Republic of Korea

In value terms, radar apparatus production stood at $X in 2022 estimated in export price. Overall, production, however, saw a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Radar Apparatus Exports

Exports from Republic of Korea

In 2022, approx. X units of radar apparatus, radio navigational aid apparatus and radio remote control apparatus were exported from South Korea; with an increase of X% against the year before. Overall, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, radar apparatus exports surged to $X in 2022. Over the period under review, total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units) was the main destination for radar apparatus exports from South Korea, with a X% share of total exports. Moreover, radar apparatus exports to China exceeded the volume sent to the second major destination, the United States (X units), threefold. Japan (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Japan (X% per year).

In value terms, the largest markets for radar apparatus exported from South Korea were the United States ($X), Vietnam ($X) and India ($X), together accounting for X% of total exports.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average radar apparatus export price stood at $X per unit in 2022, falling by X% against the previous year. Over the period under review, the export price showed a abrupt downturn. The growth pace was the most rapid in 2016 when the average export price increased by X%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced a decline.

Radar Apparatus Imports

Imports into Republic of Korea

In 2022, radar apparatus imports into South Korea was estimated at X units, increasing by X% compared with 2021 figures. In general, imports saw significant growth. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, radar apparatus imports amounted to $X in 2022. Overall, imports enjoyed buoyant growth. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Singapore (X units), China (X units) and the United States (X units) were the main suppliers of radar apparatus imports to South Korea, with a combined X% share of total imports. Germany, Spain, Hungary and Japan lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest radar apparatus suppliers to South Korea were the United States ($X), Singapore ($X) and China ($X), together accounting for X% of total imports. Germany, Spain, Hungary and Japan lagged somewhat behind, together accounting for a further X%.

Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average radar apparatus import price amounted to $X per unit, standing approx. at the previous year. In general, the import price faced a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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