Promoting Malaysia's Capabilities in Aerospace Industry
FRIDAY, 20 SEPTEMBER 2019, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) joined forces with the private sector to participate in the Aeromart Nagoya 2019 from 24 - 26 September 2019 with the objectives among others to promote Malaysia as an aerospace industry hub for the Southeast Asian region and exploring opportunities for technology development partnerships with Japanese companies to enhance the capabilities of Malaysian companies.
Aeromart Nagoya, Japan is one of Asia's largest and most successful aero manufacturing B2B event. Since its inception over the past 20 years, Aeromart has become an important global event for the aerospace industry, connecting companies under the OEM supply chain such as Boeing and Mitsubishi Heavy Industry (MHI), Tier 1 & 2 suppliers with manufacturers in the commercial and defense, through a series of business matching (B2B). Aeromart Nagoya is not a traditional show, it is a unique B2B matchmaking programme that will gather potential business partners and provide opportunities to participating companies to make new connections and strengthen existing ones.
According to MATRADEâ€™s Director of Transport & Logistics Section, Yuslinawati Mohd Yusof, the Malaysian aerospace industry is an important and strategic segment of the manufacturing sector. â€œThe overall aerospace industry employs around 24,500 people and contributes RM14.4 billion to our Gross Domestic Product (GDP). This is what makes the aerospace sector one of Malaysiaâ€™s high-value sectors, capable to accelerate the growth of Malaysiaâ€™s trade,â€ Yuslinawati said.
â€œSouth-East Asiaâ€™s dynamic regional aerospace market has left Malaysia well positioned to capitalize from this industry. Currently, Malaysia is the home to more than 230 aerospace companies, enabling development of a vibrant local supply chain comprising both international and local industry players,â€ added Yuslinawati.
Given the growing demand for commercial aircraft in this region, MATRADE is confident that the aerospace industry in Malaysia will remain a vibrant and thriving industry for many years to come. â€œThere is a need for technology transfer as the next step for industry excellence. We want our local players to follow best practices and stay relevant in the global business landscape,â€ she said, adding that Malaysiaâ€™s participation in Aeromart Nagoya is aim to explore business opportunities through strategic partnerships and joint ventures in the area of aerospace manufacturing, engineering services, precision parts and components as well as maintenance repair and overhaul (MRO) services.
A total of 20 Malaysian delegations from 7 organisations and companies will take part in the Aeromart Nagoya 2019 which focuses on the aero manufacturing, engineering services, MRO, and precision machining. The Ministry of Entrepreneur Development through SME Corp will also joining the Aeromart Nagoya 2019, bringing together some selected SME companies. Among participating industry players are Composites Technology Research Malaysia (CTRM), Sapura Aerospace, Kaizan Aero-Manufacturing and Inter-Excel Advisory.
In 2018, Malaysiaâ€™s exports of aerospace parts and components recorded an increase of 20.7 per cent to RM8.5 billion compared with 2017. Most of the products were mainly exported to USA, Singapore, United Kingdom, China and France. Meanwhile, imports increased by 26.2 per cent to RM15.91 billion as compared to RM12.61 billion in 2017. Malaysiaâ€™s major import sources in 2018 were primarily from France, USA, China, Netherlands and Singapore.