Gaining Altitude in the Malaysian Aerospace
The sky’s the literal limit for Malaysia’s aerospace industry, being designated by the government as a strategic sector with high growth potential in the country’s industrialisation and technological development programmes.
Globally, aircraft production is expected to reach 41,030 units and valued at US$6.1 trillion – excluding regional jets – over the next 20 years.
Malaysia is at the forefront of several markets, including composites design and manuracturing; aircraft components design and manuracturing, avionics and sustems design and manufacturing.
Currently, there are eight companies involved in aircraft assembly, 28 companies in the manufacture of aircraft parts and components including ground support equipment, while more than 50 companies are involved in MRIO activities.
Thanks to the country’s conducive business environment, international players have made malaysia their ground for busienss operations.
These include GE Engine Services Malaysia, Airbus, Spirit AeroSystems, Safran, Aerospace Composite Malaysia and Honeywell Aerospace Services.
Meanwhile, local companies have made great strides in aerospace such as SME Aerospace, CTRM Aero Composite, Sepang Aircraft Engineering, Airod and Malaysian Aerospace Engineering.
Rising growth figures a good sign
Malaysia’s aerospace industry is expected to continue its healthy growth momentum this year, driven by the record growth in the past three years and backlog of orders for aircraft in the Asia Pacific region.
Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan was optimistic of this, adding his belief that the industry will grow by 5.0 per cent in terms of export to RM9 billion this year against RM8.49 billion recorded in 2017.
“The Malaysian aerospace industry is seen by the government as a strategic industry, which has a vast potential for the country’s industrialisation and technological development programmes.
“The Asia Pacific region is expected to receive 16,000 new aircraft by 2035 and during this period, the region would account for 4,000 or 36 per cent of global deliveries of passengers and freight planes,” he told reporters after the soft launch of the Kuala Lumpur International Aerospace Business Convention (KLIABC) 2018.
The country had a backlog of orders for the manufacturing of aircraft parts and components, assembly base for light aircraft and corporate planes, and maintenance, repair and overhaul (MRO) activities, he said.
Plenty of aerospace focus
A bevvy of aerospace projects are in the works in Malaysia. Towards the end of the year, the three-day KLIABC, organised by Malaysian External Trade Development Corporation (MATRADE) from October 2-4, 2018, is testament of the government’s effort towards making Malaysia a regional aerospace hub.
The KLIABC 2018 will provide a platform for Malaysian aerospace companies to meet with renowned international aerospace players and obtain in-depth knowledge on the latest technology trends while developing new business linkages.
The highlights of KLIABC 2018, among others, would be a one-day high-level conference which would gather speakers from airlines, original equipment manufacturers and MRO industries, and business-to-business (B2B) meetings. This biennial event is hoped to to attract 500 participants from more than 150 companies in the aerospace industry.
Meanwhile, other worthy mentions include the Asia Aerospace City (AAC) owned by Majlis Amanah Rakyat (Mara). A RM1.7 billion project in the making, this city stands for the global aerospace standard in connecting aerospace players worldwide with the opportunity for growth in Asia.
AAC is fully supported by the Malaysian government and bridges the space between the technical competence and the engineering facilities required by the top industry players.
AAC offers a complete business ecosystem through its high-quality engineering services, industry-relevant human capital, iconic infrastructure, and government support.
To the largest Original Equipment Manufacturers (OEMs) in the world, it aims to be a competitive hub for industrial talent, cost efficiency, connectivity and resources.
Source: The Borneo Post