WHILE the airline/aviation industry worldwide has taken a bad blow from lockdowns and travelling restrictions stemming from the COVID-19 pandemic, there seems to be a brighter prospect for its sister aerospace industry.
This is judging from the Malaysia External Trade Development Corporation’s (MATRADE) latest revelation that the recently concluded Digital Kuala Lumpur International Aerospace Business Convention (Digital KLIABC 2020) raked in potential sales of RM198.36 mil from 2,626 pre-arranged business meetings.
Recognised as one of the key aerospace events in Southeast Asia, the Digital KLIABC 2020 is an avenue to support the inclusion of Malaysian companies into the aerospace industry’s global supply chain.
The inaugural event which entailed the involvement of the Malaysia Aerospace Industry Association (MAIA) and ABE France gathered 163 organisations from 25 countries comprising decision-makers searching for Malaysian partners in areas such as parts & components manufacturing, engineering & design services, maintenance, repair & overhaul (MRO) and systems integration & maintenance.
The participants included the world’s top aerospace companies such as Airbus Group, Rolls Royce, Boeing, Safran Engine, Ruag Aviation, GIFAS (French Aerospace Industries Association), Embraer, Thales, Pratt & Whitney and Lufthansa Technique.
In this regard, MATRADE is always committed to open more doors for Malaysian aerospace companies to capitalise on the global aerospace demand, according to its deputy CEO Mohd Mustafa Abdul Aziz.
“Digital KLIABC has provided 64 Malaysian aerospace companies with an opportunity to widen their reach, making them remain resilient and actively interact with international aerospace buyers,” he pointed out.
“The aerospace industry is a strategic industry for Malaysia even though it is a relatively new entrant in the Malaysian industrial landscape.”
The Government through its Aerospace Industry Strategic Plan will continue to promote the Malaysian aerospace industry while MATRADE as the national trade promotion agency will intensify its effort to push this agenda to spur growth in the aerospace industry.
Thus far, the industry has created employment for more than 27,500 highly skilled workers.
Malaysia’s expertise and strength in the aerospace industry revolve around MRO services which account for 49% of all market activities in the Malaysian aerospace industry, while the manufacturing of aero-structures and engine components made up another 47%.
In 2019, Malaysia’s aerospace exports grew by 3.9% to RM8.81 bil from the previous year with Malaysia’s aerospace main exports being aircrafts and their parts & components, particularly for wings, empennages and fuselages.
Malaysian aerospace companies are well known for their competitiveness and ability to produce high quality parts for the single aisle Airbus A320, Boeing 737 as well as the larger twin aisles Airbus A350 and Boeing 787.
Among the major export destinations were the US, Singapore, the UK, China, and France. – Dec 4, 2020
