The aeronautical sector requires greater digitization for growth

MEXICO - The Mexican Federation of the Aerospace Industry (FEMIA) and 3D CAD, a software developer, pointed out that the digitalization of processes in companies is vital for them to be able to streamline operations and take advantage of nearshoring.

During the webinar "Document management for the aerospace industry", organized by FEMIA, it was pointed out that the COVID-19 pandemic showed that micro, small and medium-sized companies need to improve processes, so they recommended companies to use new technologies to meet their growth and investment goals.

"Right now if a company wants to grow it must work with the requirements that other companies currently handle, this is the case of the aeronautical industry," said Angel Diaz, Senior Industrial Processes Consultant for North America at 3D CAD.

The specialist pointed out that it doesn't matter how big a company is, but what software and technologies it uses, since they must meet the needs of the sector.

FEMIA pointed out that investment and production volume in the aerospace sector are currently recovering, so the supply chain requires local supply of components, subassemblies and services, and this represents a very important opportunity for national companies and foreign investment.

In light of this fact, the specialist highlighted the importance of optimizing collaborations, regulatory compliance and traceability of important documents to speed up procedures and formalities.

According to the Ministry of Economy (SE), Foreign Direct Investment (FDI) in the aerospace sector was of US$38.6 million during the second quarter of 2023.

So far this year, FDI in Aerospace Equipment Manufacturing amounted to US$156 million, which is distributed in reinvestment of profits, a figure corresponding to US$96.3 million.