Analysts: Aerospace sector in Malaysia to create more than 19,000 new jobs by 2037
KUALA LUMPUR, Malaysia. The Malaysian aerospace sector is expected to grow at a combined annual growth rate of 8.45 percent over the next 20 years, with much of that growth due to rapid expansion in fleet size and the rising trend of the migration of commercial maintenance, repair, and operations (MRO) activities in the Asia-Pacific region, according to recent research from analysts Frost & Sullivan.
The expected rapid growth in the sector is based in part on the Malaysia-based Air Asia group’s indication to venture into the MRO business, according to the analysis, plus the possibility of renewed growth at Malaysia Airlines Engineering. Frost & Sullivan analysts also predict that while manufacturing growth will be lower than growth in the MRO segment, it will remain steady at around 3.2 percent.
“As demand in the Malaysian aerospace industry continues to grow rapidly, suppliers will have to expand in order to cater to this increasing demand. Malaysia’s key to success in developing its aerospace manufacturing and MRO industry is its availability of skilled labor. MRO activities are especially reliant on skilled labor as certification and qualifications are a prerequisite for MRO personnel to conduct maintenance and repair activities,” said Nishant Dey, consultant at Frost & Sullivan. “More than 13,000 new technician and engineer jobs are expected to be created in the Malaysian commercial MRO space over the 20-year period from 2017 to 2037. While approximately 5,800 engineers and technicians were employed in the sector at the end of 2016, the number is forecasted to reach close to 19,000 by 2037. About 90 percent of these new jobs are for technicians while engineers make up the remaining 10 percent.”
Dey added a caveat to the research findings: “The key concern, however, remains in how global MROs and OEMs collaborate with local aviation training schools to bring in the right expertise and curriculum, delivering internationally accepted certified workforce to cater to Malaysia, the rest of ASEAN [the Association of Southeast Asian Nations], and beyond.”
For additional information on the Frost & Sullivan analysis of expected growith in the Malaysian aerospace sector, please visit their website.