KUALA LUMPUR: The value of Airbus work undertaken in Malaysia is set to hit US$550mil (RM2.24bil) per year by 2023, 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 Asia Pacific president Jean-Marc Nasr said the US$550mil is up over a third from US$400mil (RM1.62bil) in 2018.
“The drivers for growth will be the increase in air traffic production and maintenance, repair and overhaul services,” he said at a briefing today ahead of the upcoming LIMA 2019 air show.
Nasr also said passenger traffic growth over the next 20 years is projected to grow 5.5% annually in Asia Pacific compared with 4.4% for the rest of the world.
Airbus’s local suppliers include CTRM, SME Aerospace, Spirit AeroSystems and SDMK.
Malaysia is Airbus’ third largest market in the Asia Pacific region after China and India, with the country’s airlines having ordered more than 700 commercial airliners from the company.
Today, around 300 commercial aircraft and more than 100 helicopters manufactured by Airbus are in service in the country.