The Malaysian aerospace industry is expected to reach RM18 billion in revenue for 2023, with 28,000 thousand skilled workforce, Investment, Trade and Industry (Miti) Deputy Minister Liew Chin Tong.
“The total trade valuation in between January to September 2023 soaring to RM16.67 billion. This was accompanied by a notable increased in export by 26.9% to RM4.18 billion compared to RM3.29 billion in the the same period in 2022.
“This showcase the industry’s resilience and growth potential,” he said at the opening ceremony of MyAero Summit 2023 today (Nov 15).
Liew said the top exports were the intricate and vital parts of the aircraft, which shows the country’s ability to contribute to the essential components to the worldwide aerospace supply chain.
Malaysia, he added had made stride in its aerospace industry with an accumulative of RM5.7 billion new work packages secured by the local supply chain within the last 2 years.
“A total of RM600 million worth of Maintenance, Repair and Overhaul (MRO) projects currently being implemented by the industry players,” he said.
Organised by National Aerospace Industry Corporation Malaysia (NAICO Malaysia), Malaysia Aerospace Summit 2023 (MyAero Summit 2023) celebrated the aerospace industry’s strategic significance in driving Malaysia’s economic growth and technological innovation.
The key focus of the summit is Sustainable Aviation Forum brought together experts and panellists to discuss making aerospace more sustainable, environmentally friendly, and economically viable with topics such as Malaysia’s Net Zero Aerospace Carbon Emission
Among the highlights of MyAero Summit 2023 was the Career Fair, providing opportunities to explore career opportunities in the aerospace sector as well as Malaysia Aerospace Research Symposium.
Naico Malaysia chief executive officer Professor Technologist Shamsul Kamar Abu Samah highlighted the aerospace industry’s role in advancing Malaysia’s economic development and fostering innovation.
“We want to create vibrant and sustainable future for aerospace in Malaysia, aligning with the goals set out in the New Industrial Master Plan 2030 (NIMP 2030) and the Malaysian Aerospace Industry Blueprint 2030.”
