Malaysia reaches out to European counterparts at Farnborough International Airshow to introduce her capability in the aerospace industry.
MONDAY, JULY 16, 2018, FARNBOROUGH: Malaysia’s trade promotion agency, Malaysia External Trade Development Corporation (MATRADE) is urging European companies in the aerospace industry to look for Malaysia as their supplier of products or services in areas such as Original Equipment Manufacturers (OEM), aerospace manufacturing, engineering services, precision parts, components, education & training as well as Maintenance, Repair and Overhaul (MRO) services. In an effort to further highlight this, Malaysia is taking part in the Farnborough International Airshow (FIA) 2018 in Great Britain which started today (16. July).
The participation is Malaysia’s third involvement in the FIA and among the other Malaysian parties involved are National Aerospace Industry Coordinating Office (NAICO), Malaysia Airports Holdings Berhad (MAHB), Aerospace Malaysia Innovation Centre (AMIC), UMW Group and Invest Selangor Berhad. Seventeen aerospace companies in various pockets of the aerospace industry represent Malaysia at the FIA.
Currently, Malaysia’s top trading destinations in Europe (for the aerospace industry) are the United Kingdom, France, and the Netherlands According to MATRADE’s Chief Executive Officer Ir. Dr. Mohd Shahreen Zainooreen Madros, the Malaysian Government is committed to spurring the growth of the aerospace industry as it aims to make Malaysia the leading aerospace nation in South East Asia. By 2030, the industry is targeted to generate an annual revenue of USD14.3 billion and create more than 32,000 high-income jobs for Malaysia.
“The Malaysian aerospace industry, while relatively new in comparison to the US and European countries, is seen by the Malaysian Government as a strategic industry, which has vast potential in the country’s industrialisation and technological development programmes,” he said.
In the past two decades, the aerospace industry in Malaysia has grown substantially and in recent years the sector has seen a surge in investments with several multinationals establishing and
expanding operations across the country. Among the foreign aerospace companies in Malaysia include GE Engine Services Malaysia, Airbus, Spirit AeroSystems, Safran, Aerospace Composite
Malaysia and Honeywell Aerospace Services.
Meanwhile, local companies have made great strides in the aerospace industry include SME Aerospace, CTRM Aero Composite, UMW Aerospace, Asia Aerotechnics, Airod and Strand Aerospace Malaysia. Malaysian players are also at the forefront of several markets, including in aero-composites manufacturing as well as aircraft components design and manufacturing.
In 2018, the industry is expected to grow at 5 percent in Malaysia, with aero manufacturing sector contributing 54 percent of the overall aerospace industry revenue. The MRO is set to continue
expanding, especially in the aero engine and components segment. Partnerships with the European counterparts will help benefit the Malaysian local supply chain and push the adoption of cutting-edge technology among Malaysian companies, particularly the Small and Medium Enterprises.
Foreign companies keen to know more can visit the Malaysia Pavilion located at Hall 3, Stand No 3140 at the FIA. For more details, email to email@example.com.