@article{MAKHILLJEAS201914417467,
    title = {Strategic Market Selection for Exporting Weapon Systems:
Korean Case},
    journal = {Journal of Engineering and Applied Sciences},
    volume = {14},
    number = {4},
    pages = {1374-1387},
    year = {2019},
    issn = {1816-949x},
    doi = {jeasci.2019.1374.1387},
    url = {https://makhillpublications.co/view-article.php?issn=1816-949x&doi=jeasci.2019.1374.1387},
    author = {Sukjae,Jihyun and},
    keywords = {Weapon system,export feasibility,market identification,market evaluation,promising market
selection,BMO},
    abstract = {The primary objective of the traditional arms industry was to focus on strengthening domestic military
strength. Accordingly, most of the relevant researches have focused on development and evaluation of core
weapons technologies. Relying solely on domestic demands greatly limits the possibility of the arms industry’s
growth. Furthermore, global financial crisis and military budget cuts are compelling the companies to seek
broader markets. However, significant distinction from general export as well as both the competitiveness and
high entrance barrier of the global arms trade makes such endeavor demanding. Such adversity necessitates
dissimilar studies that will focus on evaluating the feasibility of exporting weapon systems and identifying
promising markets. This study presents a three-step analytical procedure that combines both quantitative and
qualitative approaches to address this issue, selection of buying power indices and evaluation of competing
weapons systems, two-phase screening for selecting promising countries using both quantitative and
qualitative analyses and final selection of target countries by utilizing the Bruce Merrifield-Ohe (BMO) Method.
The proposed research is evaluated by applying the proposed procedure to two actual weapon system export
cases in Republic of Korea with opposite results a success and a failure.}
    }