KUALA LUMPUR – The International Trade and Industry Ministry will continue to assist local aerospace industry players to expand their competencies by introducing advanced technologies and digital transformation in line with the Malaysian Aerospace Industry Blueprint 2030.
Deputy Minister Datuk Lim Ban Hong said a programme will be developed by the National Aerospace Industry Coordinating Office – as the National Aerospace Excellence Centre – emphasising the advancement of local ecosystems, Industry 4.0 implementations and development of next generation aerospace professionals.
“This initiative is expected to strengthen local aerospace supply chains, as well as improve their cost structure and sustain their competitiveness at the global level.”
Lim said the RM50 million allocation announced under the Strategic Programme to Empower the People and Economy will further support the recovery of the aerospace industry.
“Under this initiative, the coordinating office will identify potential areas for Malaysia to bid and secure new work packages from Tier-1 companies, global service providers and original equipment manufacturers.
“This initiative offers a matching grant to aerospace companies that successfully secure new contracts or work packages that can be localised by the local supply chain and retain employment for skilled workforce.”
Therefore, the ministry encourages Tier-1 and Tier-2 companies to work with global suppliers and encourage them to consider investing in Malaysia by establishing a subsidiary or joint venture with a Malaysian partner.
In 2019, the Malaysian aerospace industry secured RM16.2 billion in revenue, with 27,500 highly skilled workers serving the industry.
This positive development was due to the increased number of activities in the maintenance, repair and overhaul businesses, which accounted for 49% of market share, while the manufacturing segment (aerostructure and engine components) accounted for 47% of market share.
“Globally, Malaysia has been touted as a nation that produces high-quality aerospace products for global aerospace leaders, such as Airbus, Boeing and Rolls-Royce, among others,” said Lim. – Bernama, March 19, 2021
