Aerospace industry exports to grow 10% in 2017, FEMIA estimates
The Mexican Federation of the Aerospace Industry (FEMIA) announced that growth rates of 10% are expected for this industry’s exports during 2017, as a national program to develop Tier 2 and 3 suppliers for this sector is currently in the works.
For this reason, a survey to detect companies that have technical, technological, human and financial capacities to compete, is being conducted. Luis Lizcano, FEMIA’s Director, detailed that almost 80% of exports are shipped to the U.S., and the expectation is to not see this volume affected by a possible NAFTA renegotiation, as it is currently valued at US$7.3 billion.
According to ProMexico, Mexico has 300 companies dedicated to this industry, with exports worth US$6.6 billion annually and an annual increase of 14%.