Revenue from Malaysian aerospace to hit US$13.6 billion by 2030

THE Malaysian Investment Development Authority (Mida) projects the aerospace sector will generate revenue of MYR55.2 billion (US$13.68 billion) by 2030. Mida deputy CEO Datuk Rajendran said the maintenance, repair and operations (MRO) segment is expected to contribute MYR20.4 billion, while aero-manufacturing and engineering and design services are expected to contribute MYR21.2 billion and MYR13.6 billion respectively, reported Kuala Lumpur's TheSunDaily.

Malaysia is home to 200 companies involved in MRO, aero-manufacturing, education and training, systems integration and engineering and design activities. For the first three months of the year, the aerospace industry recorded approved investments of MYR175.4 million for four manufacturing projects and MYR8.59 million from one MRO project.

Mida and Malaysia Airports Holdings Bhd (MAHB) are collaborating to drive investments into the country through the KLIA aeropolis and Subang aerotech park, the latter of which will be part of the Subang airport regeneration initiative.

Malaysia's first airport city, KLIA Aeropolis, will focus on air cargo and logistics, aerospace and aviation. The Subang aerotech park will serve as a hub for business aviation equipped with a complete aerospace ecosystem and is expected to see mature operations in 2025.