PH aerospace industry ready for global market
LARK FREEPORT --- “The Philippines aero space industry has chartered significant growth in the past few years and we see this emerging industry ready to compete in the global market.”
This was disclosed by Department of Trade and Industry (DTI) Secretary Ramon Lopez during the press launching of the Aeromart Summit at Widus Hotel and Casino yesterday.
Lopez said the country is seen to participate more in the global supply chain and maintenance of aircraft.
The Philippines is hosting for the first time the Aeromart Summit, an international business convention for aerospace, maintenance, repair, and overhaul (MRO); and airport infrastructure industries on June 4 to 6, 2018 inside this Freeport.
“This hosting of the Aeromart Clark therefore aims to launch the local aerospace industry on a wider scale and create greater awareness of our industry as a recognized partner in MRO and aerostructures manufacturing in the Asia-Pacific region,” Lopez said.
He added that “not many people know that Philippine-based companies currently produce parts for major aerospace manufacturers like French company Airbus and US-based Boeing.”
The country’s exports of aerospace products have steadily increased in the recent years.
The industry has recorded an annual growth rate of 42 percent in 2012 to 2016.
Europe and the U.S are the biggest export destination at 45.8 percent and 40.8 percent share to total exports of aerospace parts in 2016 respectively.
Exported aircraft products, which are original equipment manufacturing (OEM) parts, include flight control actuation systems, interiors, galleys and equipment, panels, and lavatories.
“The growth of the aerospace industry will mean more export earnings for the country and more quality jobs for Filipinos particularly for the graduates of engineering and aviation-related courses,” Lopez said.
He added that the industry roadmap projects export revenues of up to US$2.573 billion by 2022.
The Aeromart Summit is aimed at promoting the Philippines’ capabilities in aerospace parts manufacturing, aircraft MRO, and aviation trainings.
The summit is expected to maximize the investment and outsourcing opportunities in the Philippines especially in Clark for aviation and aerospace firms.
The hosting of summit is facilitated by the Board of Investment (BOI) in cooperation with various government agencies, industry associations, and other players.
Representatives from the Department of Tourism(DOT), Department of Trasportation (DoTr), Civial Aviation Authority of the Philippines (CAAP), Clark Development Corporation (CDC), Bases Conversion and Development Authority (BCDA), Clark International Airport Corporation (CIAC), Aerospace Industry Association of the Philippines and the local government of Pampanga attended the summit launching.
After the press briefing, Lopez led a tour to some of the aerospace and aviation firms in Clark including SIA Engineering Philippines, Jamco Philippines and Dornier Technology.