SEBERANG PERAI, Feb 21 — The government is targeting for Malaysia to be among the region’s aerospace pioneers by 2030, said International Trade and Industry Minister Datuk Ignatius Darell Leiking.
He said the industry is on track to generate an annual revenue of RM55.2 billion and create more than 32,000 high-income jobs.
“In 2017, the Malaysian aerospace industry recorded total revenue of RM13.5 billion where the aerospace manufacturing contributed 48 per cent of the total revenue,” he said in his speech at the official opening of SAM Precision Engineering (M) Sdn Bhd.
He said Malaysia also recorded a positive export value of RM8.51 billion mainly for aerospace parts and components. The sector has seen a surge in investments with some multinationals establishing and expanding operations across a growing network of aerospace facilities.
Among the leading global aerospace players in Malaysia include Airbus, Spirit AeroSystems, Safran Landing Systems, Honeywell Aerospace Avionics, Singapore Aerospace Manufacturing, GE and UTC Aerospace Systems.
The business expansion of SAM Engineering & Equipment (M) Bhd (SAMEE) in Penang marked the third investment by the group, Leiking disclosed.
“This is a manifestation of an investor’s confidence to further invest in Malaysia,” he said.
He said Malaysia has all the necessary ingredients to become a leading aerospace hub and he is confident more companies will consider the country as a prospect when expanding their aerospace business within the region.
Penang Chief Minister Chow Kon Yeow, in his speech, said the aerospace manufacturing sector is an important economic and investment agenda for Malaysia.
“Penang’s involvement in aerospace manufacturing is also synergistic with Penang 2030 action plan to uplift our people towards higher income, higher value jobs,” he said.
SAMEE’s latest RM140 million manufacturing plant in the Penang Science Park in Bukit Minyak will produce aerospace components for Airbus’ A320neo and the A350 aircraft.
The facility is operated by SAM Precision Sdn Bhd, a subsidiary of SAMEE.