PETALING JAYA: The Malaysian aerospace industry will be able to rebound and regain pre-pandemic revenue levels by as early as next year, if the country can continue capturing new work packages that positively impact the entire ecosystem through product localisation.
International Trade and Industry (Miti) Minister Datuk Seri Azmin Ali (pic) said the recovery will be expedited if the industry can further expand its air cargo services, business aviation, maintenance, repair and operation (MRO) as well as professional training services.
“In line with global developments in the area of environmental, social and governance benchmarks, the domestic aerospace sector will also help contribute to the reduction of carbon emissions, through the use of greener materials using Malaysian-grown biomasses, bio-jet fuel and advanced technologies.
“It is encouraging that manufacturers are reassessing their product plans and airlines, moving to more fuel-efficient fleets, ” he said in his keynote address during the Airbus Malaysia Connect Webinar yesterday.
Azmin pointed out that a total of RM15mil has been allocated for the industry’s development programmes, covering the promotion of the Malaysian aerospace industry ecosystem, the empowerment of the National Aerospace Centre of Excellence, competency enhancement through digital systems and Industry 4.0 and the development of biobased aerospace materials.
“In the recently announced Pemerkasa stimulus package, RM50mil has been allocated to further support the recovery of the aerospace and medical devices industries.”
Under this initiative, he said the National Aerospace Industry Coordinating Office (Naico) is identifying potential areas for Malaysia to bid and secure new work packages from the original equipment manufacturers, tier-1 companies and global service providers.
“This initiative offers matching grants to aerospace companies that successfully secure new contracts that will benefit the local supply chain, as well as retain employment for a skilled workforce.”
Since the implementation of key initiatives in the Malaysian Aerospace Industry Blueprint 2030, led by Naico under Miti, Azmin said the domestic aerospace industry has demonstrated steady growth in terms of revenue and export value.
“We aspire to be a leading aerospace nation in the next 10 years where the industry is expected to generate an annual revenue of RM55.2bil and create 32,000 jobs.”
He added that Malaysia has benefitted immensely from economic integration with the global economy in the form of trade, investments, mobility of workforce and international collaboration.
“Major global aerospace giants have set their sights on Malaysia, investing not only in the infrastructure but also in equipping and training our people with the required skills, know-how and technology in key aerospace sub-sectors such as MRO, aero-manufacturing, systems integration and engineering and design.
“As we forge ahead to seize new opportunities, it is imperative that the government and the industry work together strategically to get this key economic sector flying high again and soar to new levels of achievement and excellence, ” Azmin said.