Malaysia’s government has identified the aerospace industry as one of its new growth industries and aims to be the leading aerospace nation by 2030, with a targeted annual revenue of RM55.2 (US$13.5) billion. In 2017, the industry has recorded a total revenue of RM 13.5 (US$3.3) billion and aerospace manufacturing contributed to 48 percent of the revenue.
“The aim is to shift Malaysia’s economy from labour intensive to high value added, knowledge and innovation based economic activities with a focus on the services and manufacturing sectors,” said Minister of International Trade and Industry Datuk Darell Leiking
Many multinational companies have invested and established facilities in the country over the years which has also encouraged growth if the local supply chain. Furthermore, Airbus and Boeing will be delivering an estimated of 16,000 aircrafts to the Asia Pacific region by 2037. With this increased supply of aircrafts, greater support for aerospace manufacturing and MRO activities will be needed.
“The positive development has also spurred the government to view the aerospace industry as a critical sector which offers abundant opportunities for the transfer of advanced technologies in engineering, electronics, composite materials, system integration, MRO (maintenance, repair and overhaul) and industry-led Research & Technology,” said Darell.
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