PH eyes niche in lucrative global aerospace market

The Philippines is eyeing to carve a niche of the lucrative global aerospace market as the country becomes a preferred emerging location for a number of MRO (maintenance, repair, operation) companies.

John Lee, President of the Aerospace Industry Association of the Philippines (AIAP) said that apart from flight control actuation systems, galleys and equipment, interiors, fit out panel assemblies and others, the Philippines is also a preferred and emerging location for a number of MRO companies, both foreign and domestic.

Local industry players showcased their competitive edge at the Aeromart Exhibition recently held in Toulouse, France in cooperation with the Board of Investments and the Philippine Trade and Investment Center in Paris.

During the event, the Philippine delegation conducted business meetings with various players of the global industry where the BOI presented the opportunities and strengths of the Philippine Aerospace Industry.

The Aerospace Industry Roadmap projects export revenues of up to $1.5 billion in the next 10 years.

Aside from participation in international exhibitions and events, the Philippines is also looking at the possibility of organizing an aerospace international event in the near future.

Trade Undersecretary for Industry Development and BOI Managing Head Ceferino Rodolfo said that the joint implementation of the Aerospace Industry Roadmap by the government and the private sector will further develop the Philippines’ capabilities in the key segments of aerospace namely parts manufacturing, maintenance, repair and overhaul (MRO), and aviation trainings.

“Our participation in the event further affirms the confidence and competitiveness of the local aerospace manufacturing and aviation industries. These industries have charted significant growth and we see these maturing industries ready to compete in the global market,” he said.

“The growth of the aerospace and aviation industry will mean more export earnings for the country and more quality jobs for Filipinos particularly for the country’s graduates of engineering and aviation-related courses. We will take advantage of the event, and others of this nature, as an opportunity to create traction for our positioning to be the aerospace manufacturing hub for ASEAN,” he said.

DTI Undersecretary for Industry Promotion Nora Terrado said the joint participation of the government and the industry at the Aéromart aims to generate awareness for the growing Philippine aerospace industry. “Not many people realize that Philippine-based companies currently produce parts for major aerospace manufacturers like French company Airbus and US-based Boeing,” said Terrado. (BCM)