The three upgrade contracts are worth some $50 million.
Israel Aerospace Industries' (IAI) Aviation Group has announced that it won three avionic upgrade contracts worth approximately $50 million in South Korea, in 2020. The win includes three different aircraft types used by the Korean Air Force.
The avionic upgrade process involves converting a used aircraft and replacing all or part of the avionic systems with new and advanced systems. The result is an aircraft with advanced performance, capable of meeting the challenges of modern military or civilian aviation.
IAI EVP and General Manager of Aviation Group, Yosef (Yossi) Melamed said, "The recent tenders won in South Korea reflect the Korean Defense Minister’s confidence in IAI's Aviation Group. The Aviation Group seeks to expand its operations in South Korea, both as a supplier and as a client. Recently, we relocated to South Korea the wings assembly line for our G280 business jet. We anticipate more collaborations and deals down the road"
Published by Globes, Israel business news - en.globes.co.il - on January 4, 2021
© Copyright of Globes Publisher Itonut (1983) Ltd. 2021
Michal Raz-Chaimovitz and Amiram Barkat