Defense R&D technology valuation model with income approach

According to the Government\´s defense policy, "New Economy Growth Motives of Defense Industries", the relevant bodies set up the objective, \´The Defense Export over 3 billion dollars until 2012\´ and continue to make the effort to reach this goal today. Therefore, the defense technology valuation is going to be a key issue for the domestic defense R&D of equipment including main battle tanks, armored vehicles, air fighters and so on. This paper presents the defense R&D technology valuation model with the in-depth analysis of its theories and current status both domestic and abroad. Also, it provides relevant policy issues and direction in the near future. It should firmly contribute to boosting the defense technology valuation fields and to formulating a concrete tool for analyzing defense R&D technology valuation in the near future.