Malaysian Aerospace Industry Set to Shine as a Key Player at The International Paris Airshow 2023
21 JUNE 2023, KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) and the National Aerospace Industry Corporation Malaysia (NAICO) are proud to announce Malaysia's participation at the 54th International Paris Airshow (IPAS) 2023. This prestigious event, organised by the Salon International de l'Aéronautique et de l'Espace (SIAE), a subsidiary of GIFAS - the French Aerospace Industries Association, is currently taking place from 19-25 June 2023 at the Le Bourget Parc des Expositions.
The IPAS 2023 is a biennial trade show for the aerospace industry, attracting major players such as Airbus, Boeing, Embraer, and Bombardier. Under the leadership of the Ministry of Investment, Trade and Industry (MITI), MATRADE and NAICO, the Malaysia Pavilion provides a dynamic platform for Malaysian aerospace companies to expand their global presence and explore strategic opportunities for technological development, all while promoting Malaysia as the Southeast Asian aerospace industry hub and fostering partnerships with foreign companies to strengthen Malaysian companies' capabilities. This year, the national pavilion is showcasing 14 Malaysian exhibitors, including companies, state investment promotion agencies, and the Malaysia Aerospace Industry Association (MAIA).
Participation in IPAS 2023 holds significant importance for Malaysia as it presents an opportunity to highlight the growth and transformation of the country's aerospace industry in the post-pandemic era. The Malaysian delegation aims to demonstrate Malaysia's commitment to sustainability, innovation, advanced manufacturing technologies, and supporting the stability of the global supply chain.
According to YBhg. Datuk Mohd Mustafa Abdul Aziz, Chief Executive Officer of MATRADE, "The Malaysian aerospace sector plays a vital role in driving Malaysia's advancement in innovation and technology as well as high-value exports. It is a key focus area outlined in the 12th Malaysia Plan and the Malaysian Aerospace Blueprint 2030. With a well-established industry and strong capabilities in aircraft assembly and maintenance, Malaysia boasts one of the largest aerospace sectors in Southeast Asia, supported by a skilled workforce and MATRADE is always committed to generate more opportunities for Malaysian aerospace companies to capitalise on the demand of the global aerospace market."
Joining forces with MITI, MATRADE and NAICO, the Malaysian Investment Development Authority (MIDA), Invest Selangor Berhad, Iskandar Regional Development Authority (IRDA), Negeri Sembilan Corporation (NS Corp), and Pahang State Secretary Incorporated are promoting Malaysia as the Southeast Asian aerospace industry hub.
MATRADE is dedicated to forging strategic partnerships with global counterparts, focusing on areas such as Malaysian product and service sourcing, outsourcing of Original Equipment Manufacturing (OEM), R&D for commercialisation, capacity-building activities, and other high-impact collaborations with mutual benefits in mind. Discussions with various government agencies, leading corporations such as Airbus and Boeing, consultancies, and trade associations to be arranged during the exhibition to further promote the Malaysian aerospace sector.
In terms of trade performance, the aerospace industry in Malaysia recorded a total trade of RM24.04 billion in 2022, with exports increasing by 9.1% to RM6.32 billion compared to RM5.79 billion in 2021. Malaysia's top exports for the aerospace sector include parts for planes or helicopters, aircraft and aircraft parts among others. France, the United States of America, the United Kingdom, China, and Singapore were Malaysia's major export destinations last year. Notably, Malaysia experienced a remarkable increase of 99.1% in exports to France, reaching RM1.78 billion.
"Looking ahead, Malaysia aspires to become the leading aerospace nation in Southeast Asia, fully integrated into the global market. We project annual revenue of RM55.2 billion and the creation of over 32,000 high-income jobs as stipulated in the Malaysian Aerospace Blueprint 2030," stated YBhg. Datuk Mohd Mustafa Abdul Aziz.
