MAIA optimistic aerospace manufacturing revenue will surpass RM9bil

KUALA LUMPUR: The Malaysia Aerospace Industry Association (MAIA) is confident that revenue from the country's aerospace manufacturing industry will surpass the RM9 billion mark this year.

In 2017, revenue for the sector was between RM6.5 billion and RM7.0 billion.

President Naguib Mohd Nor said the robust performance was driven by strong foreign direct investment and a higher percentage of components localisation by manufacturers.

“The idea is to have continuous double-digit growth so that the Malaysian Aerospace Industry Blueprint 2030's revenue target of RM55.2 billion by 2030 is within reach,” he told reporters after signing a memorandum of understanding (MoU) with the Indonesia Aircraft Component Manufacturer Association (Inacom) here today.

Naguib said the industry, therefore, needed constant government support to aid the sector's growth and sufficient manpower to meet labour demands.

He said the collaboration with Inacom was aimed at developing aerospace capabilities and growing business opportunities in the region.

“The MoU will specifically explore human capital development, research and technology, and the sharing of industrial best practices,” Naguib said Inacom President Andi Alisjahbana said he hoped the collaboration would give a boost to Indonesia's aircraft maintenance capabilities.

“Currently, our industry capability can only handle about 30 per cent of the aircraft maintenance in Indonesia and the rest we have to outsource to other countries, including European countries,” he said. - Bernama