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Korean airline, aircraft, electronic and telecommunication companies and think tanks have teamed up to tap business opportunities in emerging avionics markets.
The aviation industry alliance is led by the Ministry of Trade, Industry and Energy and backed by Asiana Airlines, Korea Aerospace Industries (KAI), Hanwha System, LIG Nex1, Korea Aerospace Research Institute and Korea Aerospace Industries Association among others.
On Wednesday, the alliance held a launching ceremony in Seoul, where it released a plan to muster support from local industries in ICT, display, electronics and airlines to explore new business models for the aviation industry that is being reshaped around tech-laden avionics. The discipline encompasses electronic systems, navigation, display, radar, sensor and radio communication equipment for control and monitoring of flight and engine performance.
Korean companies have the potential to compete in the global avionics market considering their competitive edge, said a ministry official, adding the alliance will initially focus on the early commercialization of wireless handsets available in the air and using a cabin window as a display screen, for example. The alliance will also hold events to enable technology exchanges on a regular basis between global and Korean aircraft makers to help Korean firms build networks overseas.
By Ko Jae-man and Minu Kim
Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.
Source: Pulse by Maeil Business News Korea (Dec. 27, 2017)