The state-funded Korea Aerospace Industries has been named the initial bidder to be contracted for developing reconnaissance drones, the Ministry of National Defense announced Tuesday.
The government plans to develop unmanned aerial vehicles (UAVs) by 2017 at a total outlay of about 350 billion won and deploy them by 2020.
Under the next-generation drone project, the defense ministry said, it will acquire UAVs which check and reconnoiter military operations.
The drones will also be used as a basic platform for diverse UAVs such as armed attackers, reconnaissance and electronic warfare. Some are expected to be exported, according to the ministry.
The entire project will reach a total of 2 trillion won if the cost for derivative drones is counted, said a KAI spokesperson.
“We are determined to sell the drones overseas after developing a variety of models based on the project,” he said. “We will invest more than 300 billion won, in addition to the government spending, to get core technology and successfully develop the drone.”
The world’s drone market has been scaled at some 7.5 trillion won and the figure is projected to more than double in a decade, according to KAI.