KUALA LUMPUR: Malaysia’s aerospace manufacturing sector is expected to see a 20 per cent rise in turnover this year, compared to last year's RM6.8 billion.
"Industry players are bullish on the aero-manufacturing sector and we are hoping to see a double-digit increase this year," International Trade and Industry (MITI) Minister Datuk Seri Mustapa Mohamed said in a press conference during the National Aerospace Event here today.
Malaysia is currently the single source of specific composites parts for Airbus SA and Boeing.
Mustapa said more than 50 per cent of composite wing parts for the Airbus A320 and the Boeing B737 are supplied by Malaysia.
Global aero-manufacturing companies which invest in Malaysia include Spirit AeroSystems, Safran Landing Systems and Honeywell Aerospace Avionics.