KUALA LUMPUR: The International Trade Industry Ministry (Miti) is optimistic of Malaysia’s aerospace industry growing 10% to 15% year-on-year.
Minister Datuk Darell Leiking said this is due to an increase in manufacturing activities, mainly in the aerostructure and engine components as well as maintenance, repair and overhaul, which includes aero engines and components.
“The aerospace industry currently employs 24, 500 highly skilled workers.
“To reach the target, we are in need of more talented and skilled workers. Among the efforts is to upgrade the relevant courses (from diploma to degree) in universities and ensure graduates are market ready, ” he said after delivering his opening remarks at the Malaysia Aerospace Summit 2018 here.
Darell said the aerospace manufacturing sub-sector is forecast to register export growth of 15%, contributed by an increase in current orders as well as new outsourcing projects.
Among the locally manufactured aerospace products for export are fan cowl, fan casing, thrust reverser, forward leading edge, aircraft doors, avionic equipment and carbon brakes.
“However, we have to be realistic that some businesses may be affected amid the global economic challenges. So, while we continue to work hard, we also need to explore and expose ourselves to the outside, getting contracts in the field that we have expertise in... even if it is a small part of the contract, ” said Darell.
Despite Malaysia being small in size and its distant from the big aerospace companies in Europe, Darell is positive that investors would be attracted to invest and bring their business into the country because of the support given by the government.
“Apart from traditional market segments, Malaysia is also exploring opportunities in the New Space Economy or Space 4.0 where space technology will enhance the quality of life in the country. — Bernama