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11% Growth Expected in Mexican Aerospace Industry on Greater Demand for New Aircraft

Mexico News Daily
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August 12, 2017

Mexico's Queretaro state becoming a tech and aerospace hub (CGTN America)

Growth of 11% is expected in Mexico’s aerospace industry this year to bring the total value of annual exports to US $8 billion, the sector’s trade association says.

Luis Lizcano, president of the Mexican Aerospace Industry Federation (Femia), told the newspaper Milenio that he anticipates demand for airplane parts to continue to grow because manufacturers including Boeing and Airbus have forecast greater demand for both passenger and cargo airplanes.

Boeing has said that there will be a demand for an additional 3,500 airplanes in Latin America by the year 2034, representing sales of US $350 billion, while Airbus places the demand at a more modest 2,540 planes.

In any case, millions of new parts will be needed and that will translate into higher demand in Mexico, Lizcano explained, adding that while cars generally have around 4,500 parts, airplanes have more than 6.5 million.

He also said that 13 years ago there were just 100 United States and European companies operating in the sector in Mexico but that number has since grown to 330.

Read the rest at Mexico News Daily

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