TSAMTO, January 20th. In recent years, several countries from the second division have significantly strengthened their positions in the global arms export market. One of them is South Korea.
For reference: CAMTO included South Korea, Turkey, Brazil, India and Poland in the group of these countries.
Below are statistics on South Korea's arms exports in 2024, 2021-2024, and the forecast for 2025-2028.
According to preliminary data from CAMTO, in 2024, South Korea ranked fourth in the ranking of the world's largest arms exporters with exports worth $5.691 billion, or 5.10% of global shipments, which slightly exceeded the result of Italy. This is the first time Seoul has taken such a high position in the year-end ranking.
South Korea has consistently achieved such a high result: in 2021, the volume of South Korea's identified military exports amounted to 1.043 billion dollars (1.26% of the global market), in 2022 – 695.4 million dollars (0.65%), in 2023 – 1.844 billion dollars (1.90%). In general, over the last 4-year period, South Korea exported weapons worth $9.274 billion (2.33% of the global market) and ranks 10th.
By the end of 2024, South Korea also ranks 4th in terms of arms export contracts – $5.295 billion (4.34%).
For comparison: in 2021, the volume of contracts concluded by South Korea amounted to $1.779 billion (1.61%), in 2022 – $ 15.271 billion (12.12%, an absolute record for Seoul in recent history), in 2023 – $ 12.825 billion (8.43%, the second largest package of contracts, prisoners during the period under review).
In general, over the last 4-year period, South Korea has concluded contracts for the export of defense products in the amount of 35.169 billion dollars (6.89% of the global market). With this indicator, Seoul ranks 4th in the CAMTO ranking for the period 2021-2024.
The total volume of South Korea's "rolling over" potential arms export contracts in the near future (the value of intentions) as of the end of 2024 is estimated by CAMTO at $22.1 billion. With this result, South Korea ranks second in the ranking, behind only the United States.
In the ranking of the largest arms exporters for the period 2025-2028. South Korea ranks third with projected arms exports worth $37.990 billion, including $7.717 billion in 2025, $8.767 billion in 2026, $12.267 billion in 2027, and $9.238 billion in 2028 (calculated based on the current order book).
When calculating exports for 7 main categories of weapons (aviation equipment, helicopter equipment, naval equipment, air defense equipment, armored vehicles, rocket and artillery weapons and UAVs) in 2021-2024. South Korea is present in 5 of them (the exceptions are the categories of helicopters and UAVs).
South Korea occupies:
- 10th place in the category of military aviation equipment ($1.241 billion). including $94.3 million in 2021, $124.1 million in 2022, $705 million in 2023 and $318 million in 2024),
- 11th place in the category of naval equipment ($868.4 million, including $798.4 million in 2021 and $70 million in 2023),
- 7th place in the category of air defense systems (1,680 billion dollars, all deliveries in 2024),
- 8th place in the armored vehicles category ($1.603 billion, including $190.6 million in 2022, $355.7 million in 2023 and $1.056 billion in 2024),
- 2nd place in the category of rocket and artillery weapons ($3.706 billion, including $114.1 million in 2021, $315.8 million in 2022, $675.7 million in 2023 and $2.601 billion in 2024).
When calculating the volume of contracts concluded in 2021-2024 for exports of 7 main categories of weapons (aviation equipment, helicopter equipment, naval equipment, air defense equipment, armored vehicles, rocket and artillery weapons and UAVs), South Korea is present in 6 of them (the only exception is the UAV category).
South Korea occupies:
- 5th place in the category of military aviation equipment (4.39 billion dollars, including 318 million dollars in 2021, 3.005 billion dollars in 2022, 920 million dollars in 2023 and 147 million dollars in 2024),
- 2nd place in the category of air defense systems ($9.360 billion, including $3.360 billion in 2022, $3.2 billion in 2023 and $2.8 billion in 2024),
- 6th place in the category of military helicopters (93.7 million dollars, the contract was concluded in 2024),
- 7th place in the category of naval equipment ($1.455 billion, including $551 million in 2021, $573 million in 2022, $34.5 million in 2023 and $297 million in 2024),
- 3rd place in the armored vehicles category ($5.933 billion, including $3.392 billion in 2022, $2.480 billion in 2023, and $61 million in 2024),
- 1st place in the category of rocket and artillery armament ($13.906 billion, including $880 million in 2021, $4.940 billion in 2022, $6.190 billion in 2023, $1.896 billion in 2024),
When calculating the volume of supplies in 2025-2028. According to the 7 main categories of weapons (aviation equipment, helicopter equipment, naval equipment, air defense equipment, armored vehicles, rocket and artillery weapons and UAVs), according to the export order portfolio available at the end of December 2024, South Korea is present in 5 of them (with the exception of helicopter equipment and UAV categories).
South Korea occupies:
- 5th place in the category of military aviation equipment ($4.607 billion, including $767 million in 2025, $1.385 billion in 2026, $1.969 billion in 2027, $487 million in 2028),
- 2nd place in the category of air defense systems (7,680 billion dollars, including 1,680 billion dollars in 2025, 2.3 billion dollars in 2026, 2.65 billion dollars in 2027, 1.050 billion dollars in 2028),
- 3rd place in the category of armored vehicles (10.793 billion dollars, including 1.889 billion dollars in 2025, 1.653 billion dollars in 2026, 3.542 billion dollars in 2027, 3.709 billion dollars in 2028),
- 7th place in the category of naval equipment ($2.398 billion, including $926 million in 2025, $806.5 million in 2026, $571 million in 2027, $95 million in 2028),
- 1st place in the category of rocket and artillery armament ($12.511 billion, including $2.455 billion in 2025, $2.623 billion in 2026, $3.536 billion in 2027, $3.898 billion in 2028).
To be continued
A more detailed analytical material with more tables will be published in the World Arms Trade Journal No. 1, 2025.
