Airbus says work value in Malaysia to reach RM2.24b in 2023

: European aerospace giant Airbus’ sourcing and activities in is projected to reach RM2.24 billion (US$550 million) per year by 2023, from RM1.62 billion (US$400 million) last year.

This will come on the back of higher production rates, the company’s investment in its local subsidiaries and joint ventures, as well as potential new projects currently under evaluation, Airbus’ president Jean- Nasr told a media briefing here today.

“We are 100% committed to growing our presence in Malaysia and we believe that the country’s aerospace industry has the potential to become one of the largest in the region,” he added.

Additionally, over the next 20 years, Nasr said traffic growth in Asia is anticipated to grow 5.5% annually, compared with 4.4% per annum globally.

Currently, Airbus is the biggest partner for Malaysia’s aerospace industry, while Malaysia is Airbus’ third largest market in the Asia Pacific region after and India.

Source: The Sun Daily

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