World

Malaysia's aerospace industry on track to meet revenue target

Malaysia's aerospace industry is on track to meet its revenue target of 18 billion RM (about 3.84 billion USD) this year, with the industry expected to grow even faster next year as its product portfolio for the global aerospace supply chain expands.
Malaysia's aerospace industry on track to meet revenue target ảnh 1Chief Executive Officer of the National Aerospace Industry Corporation Malaysia Shamsul Kamar Abu Samah speaks at the opening of MyAero 2023. (Photo: thesun.my)

Kuala Lumpur(VNA) - Malaysia's aerospace industry is on track to meet its revenue target of18 billion RM (about 3.84 billion USD) this year, with the industry expected togrow even faster next year as its product portfolio for the globalaerospace supply chain expands.

Revenue of the industry wasestimated to exceed 16 billion RM as of the third quarter of this year, Chief Executive Officer of the NationalAerospace Industry Corporation Malaysia Shamsul KamarAbu Samah said at a press conference of Malaysia's Aerospace Summit (MyAero2023)on November 15.

The industry is expanding themaintenance, repair and overhaul (MRO) segment to include new aircraft typesand different categories of parts and components, he noted.

The official also said that industryplayers have secured multiple work packages related to parts and components forsingle-aisle aircraft as well as engine components, which are now widelypromoted in the global aerospace supply chain.

According to Shamsul Kamar, thissegment falls under the manufacturing sector in the aerospace industry, whichcontributed 48% of the industry’s revenue, whereas MRO contributed about 49%,and the balance is the training business.

Malaysia has bagged acumulative 5.7 billion RM in new work packages secured by the local supplychain within the last two years and 600 million RM worth of MRO projects whichare currently being implemented by industry players.

MyAero2023 gathered industryleaders and experts to create a vibrant and sustainable future for the sector,aligning with the goals set out in the New Industrial Master Plan 2030 andthe Malaysian Aerospace Industry Blueprint 2030./.

VNA
#aerospace industry #Malaysia #revenue #National Aerospace Industry Corporation Malaysia #Vietnam Plus #Vietnam News Agency #target Malaysia
Follow VietnamPlus

Related News

Malaysia attracts investments in semiconductor value chain

Malaysia attracts investments in semiconductor value chain

Malaysian Trade and Investment Minister Liew Chin Tong has said the country, which holds an important position in the global chip-making supply chain, is embracing investments in both the backend and frontend of the semiconductor value chain.
Malaysia establishes over 8,000 flood relief centres

Malaysia establishes over 8,000 flood relief centres

A total of 8,481 relief centres, which can accommodate over 2.1 million people, have been set up to prepare for the floods during the northeast monsoon season in Malaysia, according to Minister in the Prime Minister’s Department Armizan Mohd Ali.
Malaysia’s agro-food sector boasts significant potential

Malaysia’s agro-food sector boasts significant potential

Malaysia’s agro-food sector continues to record growth despite the uncertainty of both global and domestic economic markets, Prime Minister Anwar Ibrahim said in a speech launching the 2023 National Farmers, Breeders and Fishermen's Day.

See more

Philippines eyes non-permanent seat in UN Security Council

Philippines eyes non-permanent seat in UN Security Council

The Philippines has been working with the UN on many important global issues for decades, and its candidacy for the Security Council serves not only the country's own interests but also aims to strengthen its overall cooperation with the world's largest multilateral organisation, President Marcos said.

An Air India Express Boeing 737-300 sits on the runway at Phuket airport shortly after making a hard landing on March 11. (Photo: Phuket International Airport)

Aircraft incident disrupts operations at Thailand’s Phuket airport

Preliminary findings indicated that the aircraft made a hard landing, resulting in damage to the landing gear and nose gear assembly. The incident caused the aircraft to veer off the runway and prevented it from being moved immediately, leading airport authorities to suspend runway operations.

Indonesian authorities rescue 34 stranded pilot whales

Indonesian authorities rescue 34 stranded pilot whales

The agency's head Imam Fauzi said his team conducted rescue operations for a total of 55 stranded whales from March 9 night to March 10 in a coordinated effort involving local security forces, conservation agencies, officials, and residents. Twenty-one whales were declared dead after stranding.

Indonesia shipped 1.8 million tonnes of palm oil to the Middle East in 2025. (Photo: REUTERS)

Middle East conflict pushes up Indonesia’s palm oil export costs

The conflict, which intensified after coordinated strikes by the US and Israel on Iran’s capital Tehran late last month, had disrupted key maritime routes through the Strait of Hormuz. As a result, some cargo vessels were delayed or forced to take longer alternative routes, raising transport expenses and maritime insurance premiums.

Minister of State Apparatus Utilization and Bureaucratic Reform Rini Widyantini (Photo: beritasatu.com)

Indonesia steps up plan to relocate civil servants to new capital

A meeting to review progress and implementation mechanisms for the relocation plan focused on office capacity in Nusantara, the availability of official housing and the criteria for selecting ministries and agencies that will relocate in the initial phase.

Delegates at the press briefing (Photo: Tempo.co)

Indonesia likely to achieve 6% growth amid geopolitical uncertainty

At a press briefing in Jakarta on March 11 to release the state budget report, Minister of Finance Purbaya Yudhi said the Indonesian economy remained in an expansionary phase, with macroeconomic indicators staying stable. He noted that first-quarter growth was expected to exceed the 5.39% recorded in the final quarter of 2025.

Illustrative image (Photo: Nikkei)

Cambodia increases control of fuel trading

The Cambodian Ministry of Commerce requested fuel distributors and suppliers to instruct units within their networks to strictly manage fuel trading activities in accordance with technical standards, operational procedures and their internal regulations.

International visitors gather at a Vietnamese coffee stand during an event held at the United Nations headquarters. (Photo: VNA)

UN adopts resolution designating International Coffee Day

As a member of the core group promoting the initiative, Vietnam actively worked with partners to advance the proposal, helping strengthen international cooperation for the sustainable development of the global coffee value chain while promoting the image and value of Vietnamese coffee worldwide.

Participants at the WTO’s first regular meeting in 2026 in Geneva (Photo: VNA)

Vietnam pushes for consensus ahead of WTO ministerial conference

Vietnam stressed the importance of ensuring policy space for WTO members, particularly amid green and digital transitions, while calling for the full and effective restoration of the WTO’s dispute settlement system – an important pillar of the multilateral trading system.

Illustrative photo: Internet

Malaysia’s semiconductor market may reach 4.6 billion USD by 2030

Based on forecasts by LightCounting, a market research firm specialising in optical communications and photonics, the OSAT share of the datacom market in Malaysia could grow from about 1.7 billion USD in 2025 to 4.6 billion USD by 2030, representing a compound annual growth rate of around 22%.