Achieving US$2.5 B in aerospace exports by 2022: Aerospace Summit Clark PH Exhibition concludes, global clients keen to do business with local aerospace suppliers
“Philippine aerospace and aviation companies are ready to absorb the robust global demand for aircraft MRO operations, and aerospace parts manufacturing. As the exhibition was a great opportunity for the local companies to meet, know, and show each other’s capabilities with their global counterparts and discuss where they can converge and be partners, we expect these positive developments into sealed business deals and subsequently, translate to more export earnings for the country,” said Trade Undersecretary for Industry Promotion and Board of Investments (BOI) Governor Nora Terrado who witnessed some of the B2B meetings at the Aeromart Summit Clark Exhibition. Held from June 5 and 6, 2018 at the soon-to-rise aerotropolis of the country—Clark Field, Pampanga, the two-day international exhibition maximized the investment and outsourcing opportunities in the Philippines, serving as platform to expand the reach of local aerospace industry players with global clients through business-to-business (B2B) meetings. The Philippine aerospace industry is poised to achieve its export revenue goal of up to US$2,573 billion by 2022 and be recognized as a reputable partner in aircraft maintenance, repair, and overhaul (MRO) operations, and aerospace parts manufacturing in the Asia Pacific region as prospective international clients and buyers signified keen interest to build partnerships and do business with local companies at the recently-concluded Aeromart Summit Clark Philippines Exhibition.
Photo shows DTI Undersecretary and BOI Governor Nora Terrado meeting one of the participants in the Aeromart Summit Clark Philippines exhibition.
“The growth of the aerospace industry will mean more export earnings for the country and more quality jobs for Filipinos,” said Undersecretary Terrado.
About 64 foreign companies, 51 local companies, 13 embassies and chambers, six schools, four local industry associations, and three foreign industry associations from a range of aerospace and aviation industry suppliers, sub-contractors, exhibitors with selling capabilities or services in sales, marketing, business development, and technical promotion as well as buyers, contractors, decision makers seeking commodities or capabilities for the supply chain, procurement, purchasing, engineering, fabrication, and research & development participated in the Aeromart Summit Exhibition.
Local companies currently produces parts for major aerospace manufacturers like French company Airbus and US-based Boeing.
Exports of aerospace products have steadily increased in recent years. The industry recorded a compounded annual growth rate of 42 percent over the 2012-2016 period. Europe and the Americas are the biggest export destinations, at 45.8 percent and 40.8 percent share to total exports of aerospace parts in 2016, respectively. Asia Pacific accounts for 12.8 percent share.
Exports of aerospace parts include OEM (original equipment manufacturing) parts such as flight control actuation systems, interiors, galleys and equipment, panels, and lavatories for the global commercial aircraft industry.
Tier 1 OEMs in the Philippines include Moog Controls Corp. (flight control actuation systems), B/E Aerospace (interiors, galleys and equipment, lavatories), and JAMCO (honeycomb panels for interior fit-outs). (END)