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| A model of the nation's locally developed fighter, the KF-21 Boramae, is displayed at the Farnborough International Airshow in Britain, Thursday (local time). Courtesy of Korea Aerospace Industries |
By Kang Seung-woo, Joint Press Corps
On the back of the successful first flight of its KF-21 Boramae fighter jet earlier this week, the chief of Korea Aerospace Industries (KAI) is seeking to keep the momentum going by unveiling an ambitious new plan to sell 1,000 FA-50s within a decade.
"To export 1,000 FA-50s means opening up a market worth 40 trillion won ($30.5 billion) in sales and 100 trillion won in follow-up logistics support," President Ahn Hyun-ho told reporters at the Farnborough International Airshow in the U.K., Wednesday (local time).
According to KAI, the global market volume for light attack aircraft in the world is 28,000 planes.
"In addition, it carries extra significance that Korea will become the world's second-largest aircraft manufacturer, with the aerospace sector emerging as the nation's bona fide future growth engine along with the automotive and steel industries," he added.
The FA-50 is a variant of KAI's T-50 supersonic trainer jet, co-developed with Lockheed Martin using some of the U.S. firm's technologies, including the avionics system and engine. It has been exported to Iraq, the Philippines and Thailand. The Korean Air Force has been operating 60 FA-50s since 2014.
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| KAI President Ahn Hyun-ho holds an interview with the media at the Farnborough International Airshow in Britain, Thursday (local time). Courtesy of Korea Aerospace Industries |
The biggest market that KAI has kept close tabs on is the United States, as the U.S. Air Force and the U.S. Navy plan to procure 280 and 220 advanced tactical trainers, respectively, for their programs beginning in 2024 and 2025.
"A possible U.S. deal is expected to pave the way in drawing interest from other countries considering purchasing light-attack fighters," a KAI official told The Korea Times.
To this end, KAI signed a teaming agreement with Lockheed Martin last month, under which the two sides will form a steering committee focused on designing, producing and promoting an improved version of the FA-50 as well as marketing it to win U.S. military procurement projects.
"That variant of the T-50 is best positioned to meet those (U.S.) requirements," said Randy Howard, Lockheed Martin's vice president for global pursuits.
"I want you to see us as a coordinated team and we're working together on a regular basis to bring the T-50 into the view of our customers around the world in order to meet their training needs, leveraging Lockheed Martin's proven expertise as not just a fighter aircraft provider but as an air power solutions provider."
Howard also called the KAI aircraft the best trainer on the planet in its class.
"When your objective is not really to train T-50 or any other objective is to get a pilot ready to fly as quickly as possible into an F-35, an F 16 or another fighter aircraft, and the T-50 we believe does that more quickly and more efficiently and more completely than any other trainer available today," he said.
"And so we're honored actually and excited about the opportunities and focused for us on the U.S. Air Force and U.S. Navy who both have emerging training requirements."
Along with the U.S. market, KAI is also eyeing the European market, according to its president.
"I promoted an improved version of the FA-50 to countries of the European Union and the North Atlantic Treaty Organization during the air show," Ahn said, hoping that the Korean company will sell some 200 planes to European and Southeast Asian countries.
According to KAI, the FA-50 is compatible with the F-16 models used by NATO member nations, while being optimized to train pilots for a fifth-generation fighter like the F-35.
His remarks came as a number of countries have shown interest in the Korean-made aircraft as part of efforts to boost military capabilities in light of Russia's invasion of Ukraine.
In particular, Poland is one of the most enthusiastic about the FA-50, as evidenced by visits by its defense minister and inspection delegation, who toured Korea's lone aircraft manufacturer in May and June, respectively.
"Although it is not an easy goal to sell 1,000 units, the current situation is better than at any point in the past. In particular, there is an unprecedented demand in Central Europe, Africa and the Middle East, and there are many inquiries from the export target countries," Ahn said.
"In order to seize the opportunities, we are concentrating all our efforts to seize this opportunity."
