KUALA LUMPUR: MATRADE will continue to boost Malaysia’s aerospace players into the global supply chain in line with the New Industrial Masterplan’s (NIMP) goal of increasing economic complexity while increasing aerospace revenues as envisioned in the Malaysian Aerospace Industry Blueprint (MAIB).
It said MATRADE intended to increase aerospace product and services exports to Europe in 2024 as the region is Malaysia’s most important export destination for aerospace products and services.
“About 50.1 per cent of Malaysia’s aerospace exports to Europe were aircraft or helicopter parts,” it said in a statement today.
From January to November 2023, Malaysia’s aerospace exports to the European region totalled RM1.23 billion with the top five destinations being the United Kingdom (UK), Ireland, Italy, France and Germany.
Malaysia’s aerospace exports continued its upward trend during the first eleven months of 2023 with a double-digit increase or 10.1 per cent to reach RM5.59 billion compared with the same period in 2022.
MATRADE said the aerospace industry has witnessed remarkable growth driven by a strategic combination of public and private sector collaborations.
It said Malaysia emerged as a hub for aerospace manufacturing, maintenance, repair and overhaul
(MRO) services as well as training.
MATRADE said the government has also implemented robust policies to attract foreign direct investment, foster innovation and build a skilled workforce.
Furthermore, It said MATRADE is currently in talks with multiple French counterparts to forge partnerships in joint capacity-building programmes, participation in key French aerospace trade events as well as customised business-to-business engagements.
“To strengthen our existence in the European market, in 2024, MATRADE in collaboration with the National Aerospace Industry Corporation (NAICO) will be coordinating the participation of local aerospace companies under the Malaysia Pavilion at Farnborough International Airshow (FIA) 2024, which will be held in the UK from July 22 – 26, 2024,” it said.
It said the biennial international trade show is an iconic event that brought together aerospace giants such as Airbus, Boeing, Embraer, Bombardier, BAE Systems, GKN, Rolls Royce and Safran.
MATRADE said FIA 2024 would provide an opportunity to showcase the capabilities of Malaysian aerospace companies while boosting potential business through meetings with primes as well as Tier-1 and Tier-2 companies in the global aerospace supply chain.
“During our participation in FIA 2024, MATRADE will raise awareness among international players about the development of aerospace parks by creating dedicated spaces for research, testing and manufacturing.
“MATRADE will emphasise that this infrastructure development not only strengthens our capabilities but also provides an appealing ecosystem for international aerospace companies looking for collaborative opportunities,” it said.
MATRADE and NAICO play pivotal roles in developing the Malaysian aerospace industry and act as conduits for global partners to explore partnerships with Malaysia through industrial collaborations, trade and investment. – Bernama
Source: The Star