By ALIFAH ZAINUDDIN / Pic By TMR File
MALAYSIA is looking to increase overseas investments in aerospace industry, with the government pushing for more partnerships between local companies and international aerospace suppliers at the 53rd International Air Paris Show (IPAS) 2019.
This comes as top aircraft makers Boeing Co and Airbus SE consider plans to build manufacturing bases in Southeast Asia to meet higher demand for new aircraft in the Asia-Pacific region.
Malaysia, which aims to become the region’s leading aerospace nation by 2030, has seen a solid growth momentum in the industry over the last five years with the country’s exports of aerospace parts and components recording an increase of 20.7% to RM8.48 billion in 2018.
Malaysia’s current main export destinations include the US, the UK, France, China and Singapore. The country has also witnessed an increase in imports over the period which hit RM15.91 billion last year.
International Trade and Industry Minister Datuk Ignatius Darell Leiking (picture) said the country is well-positioned to capitalise on the region’s dynamic aerospace industry.
“Malaysia is now home to more than 230 aerospace companies and the numbers keep growing. This is a catalyst to a vibrant local ecosystem, and a strong world demand for Malaysian products or services means the growth of the Malaysian companies can be accelerated.
“This ultimately will benefit the Malaysian community through various economic values such as job creations and local supply chain development,” he said in a statement today.
The country’s participation in IPAS comprise a total of 40 Malaysian delegations from 15 organisations and companies. They include Composites Technology Research Malaysia Sdn Bhd, UMW Aerospace Sdn Bhd, Jecmetal Industries Sdn Bhd, Sapura Aerospace Technologies Sdn Bhd and Curge Advance Sdn Bhd.
The companies will be matched with various aerospace industry players during the one-week event. The effort aims to explore partnership opportunities with international tier 1 and tier 2 suppliers, as well as the original equipment manufacturers in the aerospace manufacturing and services sector.
Among the focus areas within the sectors are manufacturing of precision parts and components, engineering services as well as maintenance, repair and overhaul services.
Malaysia External Trade Development Corporation (Matrade) CEO Datuk Wan Latiff Wan Musa said Malaysia is at the forefront of several markets, particularly in aero composites manufacturing, as well as aircraft components design and manufacturing.
“There is a need to promote these capabilities to the world and through the leadership of the International Trade and Industry Ministry, Matrade, National Aerospace Industry Coordinating Office and Malaysia Investment Development Authority are joining forces to develop the industry and integrate the local players in the global supply chain,” he said.
IPAS, the world’s largest aerospace trade event, takes place in Le Bourget, France, from June 17-23 2019.