Kuala Lumpur, May 2 – The Malaysian aerospace industry has seen a strong growth in 2016, said the Minister of International Trade and Industry Datuk Seri Mustapa Mohamad, in his opening address during the Malaysian Aerospace Council (MAC) meeting last week.<\/p>\n
He stated that exports of Malaysia\u2019s aerospace products recorded a significant increase of 32.6% in 2016 with a value of RM5.53 billion compared with RM4.17 billion in 2015. Aerospace parts and components are the main products of export.<\/p>\n
The positive growth is also portrayed in the total revenue recorded in 2016 which was RM12.7 billion. The performance of the Malaysian aerospace industry is highlighted in the newly published Malaysian Aerospace Industry Report 2016\/2017.<\/p>\n
In 2016, nine (9) aerospace projects with investments totalling RM1.6 billion were approved of this RM889.4 million were from foreign investments. The approved projects are expected to generate a total of 1,766 employment opportunities.<\/p>\n
It was a remarkable year particularly for the aerospace manufacturing sub-sector which secured revenue of RM6.4 billion, an increase of 11% compared to 2015. Aero structure manufacturing remains competitive with potential expansion programmes expected to be executed throughout 2017. The MRO sub-sector recorded revenue of RM5.7 billion mainly supported by the expansion of aero-engine and component MRO activities.<\/p>\n
As part of the Government\u2019s efforts to develop SMEs to participate in the global aerospace supply chain, a structured SME development programme was launched under the Economic Transformation Programme\u2019s Business Services Entry Point Project (EPP) 8. In 2016, 10 SMEs were selected to undergo the programme.\u00a0<\/p>\n
To date, 7 of these SME\u2019s have been certified with AS9100 and the companies have elevated their visibility through a structured promotional programme. These SMEs have received a total of 591 Requests for Quotations (RFQs). In 2017, another 10 SMEs will be selected for EPP8 2.0 with a new set of KPIs to achieve RM24.6 million cumulative sales for 20 SMEs and 500 RFQs for 10 new SMEs in 2017.<\/p>\n
At LIMA 2017, MITI had made its first appearance in promoting Malaysia as the regional aerospace hub and the right partner in aerospace business. MITI continues to support collaboration between industry players to further enhance their capabilities and expand their business globally. Among them is the strategic collaboration between Malaysian Aerospace Industry Association (MAIA) and GIFAS (French Aerospace Industry Association). Through this collaboration, it is expected that Malaysian and the French aerospace industry will further expand their business collaborations that will benefit both countries.<\/p>\n
In the next MAC meeting scheduled in mid-August this year, MITI plans to have a mini expo to feature the local aerospace industry capabilities and showcase advanced aerospace products produced by Malaysian aerospace companies. The event will also include business matching and networking especially between Tier-1 aerospace companies and SMEs.<\/p>\n
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Kuala Lumpur, May 2 – The Malaysian aerospace industry has seen a strong growth in 2016, said the Minister of International Trade and Industry Datuk Seri Mustapa Mohamad, in his opening address during the Malaysian Aerospace Council (MAC) meeting last week. He stated that exports of Malaysia\u2019s aerospace products recorded a significant increase of 32.6% […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-433","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=433"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/433\/revisions"}],"predecessor-version":[{"id":5639,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/433\/revisions\/5639"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}