The Borneo Post

Aerospace industry to generate annual revenue

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The Malaysian Aerospace Industry Blueprint 2030, launched in 2015, aims to make Malaysia a central aerospace hub in the Southeast Asian region and transform the country into a key global player by 2030.

KUALA LUMPUR: The aerospace industry is targeted to generate annual revenue of RM55.2 billion and create more than 32,000 high-income jobs by 2030, says the Malaysia External Trade Developmen­t Corporatio­n ( Matrade).

Transport and Logist ics Section director, Yuslinawat­i Mohd Yusof said the Malaysian aerospace industry is seen as a strategic industry, with vast potential in the country’s industrial­isation and technology developmen­t programmes.

“The Malaysian Aerospace Industry Blueprint 2030, launched in 2015, aims to make Malaysia a central aerospace hub in the Southeast Asian region and transform the country into a key global player by 2030,” she told Bernama at the recent Defence Services Asia 2018 ( DSA 2018) exhibition.

Yuslinawat­i said in 2017, Malaysia’s aerospace products trade stood at RM22.67 billion and the country’s exports, mainly comprising aerospace parts and components, had increased by 53.4 per cent to RM8.49 billion compared to RM5.53 billion in 2016.

“Exports were mainly to Indonesia, Singapore, the United States ( US) , the United Kingdom and China,” she added.

Meanwhile, Malaysia’s main import items were aircraft and parts, mostly from France, the US, the Netherland­s, China and Singapore.

“The total revenue of Malaysia’s aerospace industry grew from RM900 million in 1998 to RM13.5 billion in 2017.

“There are about 230 companies in the aerospace industry, which created more than 23,000 jobs,” Yuslinawat­i said, adding, most of the companies were small and medium- sized enterprise­s.

She sa id t he re we r e huge opportunit ies in the manufactur­ing, maintenanc­e, repair and overhaul ( MRO) of aircraft parts, engines and components, assembly base for light aircraft and corporate planes, and other engineerin­g services.

“The presence of internatio­nal players in Malaysia, such as Airbus, General Electric ( GE), Honeywell and Spirit Aerosystem­s, shows that Malaysia has a promising outlook in terms of strengthen­ing its position and thus securing a bigger market share,” said Yuslinawat­i.

To ensure consistent growth for the aerospace industry, she said, the Ministry of Internatio­nal Trade and Industry, had identified several key initiative­s to enable it to become a strong high- technology sector which supports the complete aerosystem­s life cycle, thus taking advantage of the rapidly growing air transporta­tion industry.

One of the initiative­s is the Kuala Lumpur Internatio­nal Aerospace Business Convention 2018 ( KLIABC 2018) slated for October, and which is expected to see the participat­ion of over 300 local and internatio­nal companies.

Yuslinawat­i said KLIABC had an edge over other aerospace and MRO events in Southeast Asia due to its signature prearrange­d one- on- one meeting sessions.

“Through an outstandin­g business- to- business forum platform, KLIABC brings the right partners to the participan­ts.

“During the three- day event, they will have the opportunit­y to meet, discuss and network with local and internatio­nal contacts from the aerospace and the MRO supply chain. The programme will help decision makers in exploring and penetratin­g the market.

“The KLIABC also gives stakeholde­rs real-time data and brings together leading industry experts to share insights on growth opportunit­ies, cost reduction and management strategies that help maximise e f f i c iency,” she adde d . — Bernama

Yuslinawat­i Mohd Yusof, Transport and Logistics Section director

 ??  ?? In 2017, Malaysia’s aerospace products trade stood at RM22.67 billion and the country’s exports, mainly comprising aerospace parts and components, had increased by 53.4 per cent to RM8.49 billion compared to RM5.53 billion in 2016. — Reuters photo
In 2017, Malaysia’s aerospace products trade stood at RM22.67 billion and the country’s exports, mainly comprising aerospace parts and components, had increased by 53.4 per cent to RM8.49 billion compared to RM5.53 billion in 2016. — Reuters photo
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