February 22, 2024

We are creating some awesome events for you. Kindly bear with us.

Malaysia Establishes Sustainable Aviation Energy Task Force

The Minister of International Trade and Industry announced the formation of the Sustainable Aviation Energy Task Force led by MITI at the opening of the Malaysia Aerospace Summit 2022 (MyAERO’22).

The task force aims to provide policy recommendations and coordinate the implementation of public-private partnership national projects and initiatives to help achieve a reduction of carbon footprint in the aerospace industry including the production of Sustainable Aviation Fuel (SAF) in Malaysia. The Task Force consists of members from the government as well as the private sector.

MyAERO’22 was organised by the National Aerospace Industry Coordination Office (NAICO), MITI in collaboration with SOCSO, IEM and AMIC featuring the aerospace exhibition, career fair, and an industry seminar focusing on Digital Transformation and Innovation towards Sustainable Aerospace Ecosystem and a tech-talk session on Additive Manufacturing.

The event gathered stakeholders in the aerospace industry highlighting the potential and current capabilities of the Malaysian aerospace industry ecosystem and providing the platform for subject matter experts to share and promote industry competency development.

The Malaysian aerospace industry has been on an upward trajectory, positioning Malaysia as a regional powerhouse and integral to the global aerospace industry supply chain. Last year, the industry recorded RM 104.7 million worth of investments, total trade of RM 13.84 billion and revenue of RM 12.2 billion.

RM2 billion worth of work packages were awarded to the local aerospace industry involving RM 600 million worth of MRO expansion projects which are expected to be implemented by the fourth quarter of this year. The Farnborough International Airshow 2022 held last month saw Malaysian companies securing RM 572.6 million of business deals.

The government remains committed to facilitating the growth of the aerospace industry with the introduction of various initiatives currently being implemented under the Twelfth Malaysia Plan (12MP). These initiatives will be in coherence with the 3 focus areas by MITI in terms of policy direction and strategic initiatives in the near term namely trade and sustainable development, supply chain resiliency and human capital development.

About MITI

MITI is the key driver in positioning Malaysia as the preferred destination for quality investments and enhancing the nation’s rising status as a globally competitive trading nation. Its objectives and roles are oriented toward ensuring Malaysia’s rapid economic development and helping achieve the country’s stated goal of becoming a developed nation.

The aerospace industry

The global aerospace market is expected to grow from US$ 298.0 billion in 2020 to US$ 430.9 billion in 2025 at a rate of 7.7%. The global aerospace market is then expected to grow at a CAGR of 5.9% from 2025 and reach US$ 573.6 billion in 2030.

Growth factors in the historic period include increased demand for air travel technological advances, emerging economies, changes in social behaviour and low-interest rates. Factors that negatively affected growth in the historic period were high exchange rate fluctuations, political uncertainties, volatile raw material prices and grounding of planes.

Looking ahead, it is expected that there will be a growing demand for commercial use of drones, emerging economies, and rapid advances in technology. Factors that might hinder the growth of the aerospace market in the future include budget airlines’ bankruptcy, order cancellations, increased cyber-attacks, global warming, poor aviation infrastructure, geo-political tensions, global recession, and coronavirus pandemic.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend