Malaysia's aerospace industry revenue to expand up to 25pct this year
KUALA LUMPUR: Malaysia's aerospace industry revenue is projected to grow 20 to 25 per cent this year from RM25.1 billion (US$5.93 billion) in 2024, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
He said the country also secured RM1.5 billion in approved investments and achieved export values of RM8.17 billion, clear indicators of growing global confidence in Malaysia's capabilities, resilience, and talent pool in the sector.
"Our 30,000-strong aerospace workforce continues to demonstrate excellence across the entire value chain, from aircraft structure manufacturing and engine components to avionics and maintenance, repair and overhaul (MRO), as well as systems integration.
"Such achievements are only possible through the strength of the triple helix model - government, academia and you, the captains of industry - working in unison to propel Malaysia's aerospace sector to greater heights," he said in his keynote speech at the Malaysia Aerospace Industry Association (MAIA) President's Dinner 2025 here tonight.
Tengku Zafrul noted that there were already positive signals of industry confidence, especially when he accompanied Prime Minister Datuk Seri Anwar Ibrahim's official visit to France with Malaysia Airlines having doubled its commitment to the Airbus A330neo and exercising options for 20 additional aircraft, bringing its total order to 40 A330neo planes.
AirAsia, on the other hand, has signed an agreement to purchase 50 Airbus A321XLR aircraft with options for 20 more.
"This move supports its ambition to expand into long-haul low-cost markets, especially in Europe and North America, powered by more fuel-efficient and range-optimised aircraft."
"These fleet expansion efforts are not only a strong vote of confidence in Airbus - but also in positioning Malaysia as a regional hub for MRO, parts supply, and aerospace talent," he said.
Tengku Zafrul said the regional and global aerospace industry is entering a period of accelerated transformation and growth, with increasing demand for green aviation solutions, digital systems integration, and resilient supply chains; hence, Malaysia must continue to adapt, lead and innovate.
"To remain competitive, we must strengthen our position not just as a supplier, but as a strategic partner in global aerospace supply chains, capable of co-developing future technologies."
"This is where the alignment between the Malaysian Aerospace Industry Blueprint 2030 (MAIB 2030) and the National Industrial Master Plan 2030 (NIMP 2030) and real-time industry feedback is so important," he added.
Tengku Zafrul encouraged the MAIA and the National Aerospace Industry Corporation (NAICO) Malaysia to continue this close collaboration, especially in areas such as talent pipeline planning, technology localisation and small and medium enterprise development.
Under both MAIB 2030 and NIMP 2030, the aerospace industry is recognised as a high-growth, high-value sector that will contribute significantly to increasing economic complexity and global competitiveness.
"With clear policy direction through NIMP 2030 and MAIB 2030, we are well-positioned to elevate our aerospace ecosystem to the next level," he said.
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