Korea Aerospace Industries (KAI), South Korea’s dominant aircraft manufacturer, has won a 380 billion won ($336 million) contract with Airbus of the United Kingdom to additionally supply A320 wing top panels (WTP) between 2026 and 2030, the company announced on recently. Its first order for this year is an extension of the previous contract that will end in 2025.
WTP is an essential part of an aircraft, with a size of 16 meters (m) in length and 3.5 m in width, and composed of the blade surface and main frame.
The A320 is the best-selling model with about 13,000 aircrafts ordered from customers around the world and about 7,400 of them in service. Amid the growing demand for the A320, KAI has increased WTP production for the A320 since it first signed the contract with Airbus in 2011 and WTP now accounts for 40 percent of its total sales to the A320.
KAI also plans to ramp up its efforts to further expand orders to meet the growing demand for the A320 and diversify its income sources by exploring new markets. It will seek Risk Sharing Partner (RSP) projects to attract new customers and expand its presence in Southeast Asia to promote Korea’s home-grown helicopter Surion, KAI said.
As of 2016, KAI reported 18 trillion won in order backlog after making aggressive forays into overseas market. It expects its order backlog to exceed 20 trillion won this year.
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