Aircraft Gear Market

Rising air cargo operation to drive the aircraft gear market.

South Korea's air cargo industry is growing strongly, owing to the growing e-commerce sector and high international trade. The Asia-Pacific region, which includes South Korea, has the largest share in the global air cargo market, at 33.3%, indicating a crucial role in the international logistics chain.

For instance, Air Incheon plans to acquire Asiana Airlines’ cargo division, which is supported by Hyundai Gloves, making the company the nation's second-largest freight carrier. Among its haulers are the 11 Boeing 767 and 747 freighters operating routes from Asiana that connect major export hubs- Shanghai, Guangzhou, Hong Kong, and even the US. After the acquisition, Air Incheon plans to increase its fleet size with new widebody freighters from Boeing and Airbus. This will be a proactive approach in catering to the growing air freight market. This increase in air cargo activities demands reliable aircraft gear to ensure effective and safe transportation. Increased usage of freighter aircraft, including new and more significant models, directly increases demand for high-quality gear systems for propulsion, flight control, and other applications.

Integrating logistics companies like Hyundai Glovis into the aviation sector suggests a move towards more seamless air and ground transportation solutions. Such collaborations will likely enhance operational efficiencies and drive further growth in the air cargo industry, increasing the need for aircraft components, mainly gears, to support expanded and more integrated operations.

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