Langkawi MAR 26 – Malaysia plans to be the leading aerospace nation in South East Asia an integral part of the global market said Prime Minister, Tun Dr. Mahathir Mohamad.
He said this in view of the Malaysian Aerospace Industry which has seen positive developments particularly in the aerospace manufacturing and MRO (Maintenance, Repair & Overhaul) business.
“The industry secured RM14.4 billion revenue with 24,500 highly skilled workers serving the industry.
“This aerospace manufacturing sector continues to lead the industry with 48% market share while MRO captured 46% of it,” he said in his speech at the opening ceremony of the 15th Langkawi International Maritime and Aerospace Exhibition Centre (LIMA’19) here today.
Dr. Mahathir added last year the total export of aircraft and associated equipment and parts are valued at RM8.48 billion, an increase of 20.7% compared with 2017. Export destinations included yhe United States of America, Singapore, United Kingdom, China and Frsnce.
The Prime Minister also said that the aerospace industry is forecasted to expand as 11 aerospace investment projects worth RM816.3 million were approved in 2018 and expected to generate more than 1,500 employment opportunities.
Dr. Mahathir also mentioned about the15th edition of LIMA that brings back memories of the momentous 1991 edition when he launched the 1st Blueprint for the Development of the Aerospace Industry in Malaysia.
LIMA’19 is hosting business delegations from 31 nations and a total of 390 defence and commercial companies.
195 international businesses will be displaying their products and 42,000 trade visitors are expected to converge at LIMA’19 not only to see the latest products and services offered by the exhibitors but also to explore business potential particularly with Malaysia-based companies.