Selangor state’s investment solutions center, Invest Selangor has established Selangor Darul Ehsan Aerospace Industry Coordination Office (S-Daico) to expedite the industry’s recovery process following COVID-19 pandemic. S-Daico’s key goals are to spearhead the Selangor Aerospace Action Plan 2020-2030 (SAAP), which aims to develop Selangor as an established aerospace hub in the region and support the Malaysian Aerospace Industry Blueprint 2015-2030 (MAIB).
Among the roles of S-Daico are to provide advisory services, manage potential investment opportunities, coordinate aerospace developmental projects, and financial allocation, as well as act as the secretariat to the Selangor Aerospace Council. Under SAAP, five strategic activities had been identified as the main drivers including maintenance, repair, and overhaul (MRO), manufacturing and engineering, system integration, engineering and design, and training and education. Selangor currently houses 62% of the 230 aerospace companies with offices in Malaysia. Some of the companies are SME Aerospace Sdn Bhd, the world’s major suppliers of aircraft wings and components for global plane-makers, and leading firms like Boeing and Airbus.
The aerospace industry in Malaysia is growing at an average of 5% over the past 10 years. In 2018, the country generated a total of MYR 14.4 billion (USD 3.37 billion) in the industry, which rose by 6.7% from the previous year. The amount was largely contributed by exports of aircraft parts and components, valued at MYR 8.48 billion (USD 1.98 billion). By 2030, MAIB plans to attain an annual revenue of MYR 55.2 billion (USD 12.93 billion) and create more than 32,000 high-income jobs in the industry.
(Sources: Malaysian Reserve; The Edge Markets)