The top management of Korea Aerospace Industries, the nation’s sole aircraft manufacturer, has set a 30 percent growth target for sales this year, boosted by growing revenue from exports. 

“When the sales goal is achieved, the company’s revenue will soar to a record high of 3 trillion won ($2.7 billion) by year-end,’’ KAI CEO Ha Sung-yong said during the firm’s annual general meeting. The event was held at the company’s headquarters in Sacheon, South Gyeongsang Province, on Friday.

The bold sales goal is based on growing demand for KAI products overseas. ‘‘We expect to reap about 60 percent of total sales from exports this year,” Ha said.

KAI exports aircraft such as KT-1 trainer jets and T-50 supersonic advanced trainers, and structures used to make commercial planes for Boeing and Airbus.

“Riding on growing demand for KAI products at home and abroad, KAI has set a record-high order target at 10 trillion won ($8.9 billion),” Ha added.

In the domestic market, Korea will decide the preferred bidder for the mega fighter development project worth more than 8 trillion won, better known as KF-X, in the first half of this year.

KAI and Korean Air, in partnership with Airbus Defense, are in competition to win the deal. Market watchers forecast KAI has the upper hand in the race thanks to its aircraft manufacturing.

KAI is pushing for a project to develop a light civil helicopter and a light armed helicopter for entry into service by 2020.

In the overseas market, KAI has set its eyes on the T-X program in the U.S., aimed at replacing the U.S. Air Force’s outdated fleet of T-38 training aircraft. KAI plans to join the 10 trillion won bid with its development partner Lockheed Martin.

“The company will further invest in talent acquisition and talent development to complete a variety of projects at home and abroad, while strengthening the infrastructure for aircraft development activities, ’’ Ha said.

By Seo Jee-yeon  (jyseo@heraldcorp.com)