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South Korea Aircraft Gears Market to Reach $2 Million by 2028

August 25, 2026

2 min read

Key Takeaways

South Korea's aircraft gears market valued at $0.7 million in 2023.
Projected to reach $2 million by 2028 at a 23.4% CAGR.
Driven by defense modernization and commercial aviation expansion.
MRO activities and new aircraft deliveries also contribute to growth.

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Strategic Implications

South Korea's aircraft gears market growth may indicate a shift in the country's aerospace manufacturing capabilities, suggesting a potential increase in its global market share. The high CAGR could attract investments and partnerships, further strengthening the country's position in the Asia Pacific aerospace sector.

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What Happened

Rapid Expansion in Aerospace Manufacturing and Defense Modernization

The South Korea aircraft gears market is poised for significant growth, driven by the country’s defense modernization programs and expanding commercial aviation capabilities. Valued at $0.7 million in 2023, the market is projected to reach $2 million by 2028, representing a compound annual growth rate of 23.4%. This growth is substantially higher than the global market average, positioning South Korea as a high-growth hub in the Asia Pacific aerospace sector. According to a report by MarketsandMarkets, the market expansion reflects the country’s strategic investments in aerospace manufacturing and its role as a key supplier in regional and global supply chains.

Source | Originally Published: August 1, 2026

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