KUALA LUMPUR, June 25 (Xinhua) -- The Malaysian aerospace sector is eyeing a boost through the opportunities presented by the development of the low-altitude economy (LAE), Deputy Minister of Investment, Trade and Industry Sim Tze Tzin said on Thursday.
Apart from swiftly opening up market access for companies, the entry of global industry players, the LAE would also bring about technology transfer, increase the capabilities of local engineers, and foster expertise in design and maintenance processes, Sim said following the launch of the Malaysia Aerospace Summit 2026.
Sim said the expansion of the aerospace sector to include the LAE will be a seamless transition, considering Malaysia has already built a strong foundation and infrastructure in the traditional aerospace sector, with the country hosting some 250 aerospace companies that bring in 32.5 billion ringgit (7.9 billion U.S. dollars) in revenue.
"This success comes from two main activities. First, our world-class maintenance and repair hubs that fix top-tier airplane engines, and second, our advanced factories that build major parts for global brands," he said.
Sim added that the government is supporting the development of the sector through grants, subsidies, soft loans, and equity, and through its industrial and national development plans, and especially encourages young talent to take up careers in the sector. ■
