Aerospace sector is “flying full throttle”

The aerospace industry is literally “flying full throttle”. Over the last 12 years, annual average exports of the sector have sustained two-digit growth rates, and this year will be no exception. “The last record on file is from 2015, with US$6,686 million exports”, declared Luis G. Lizcano, General Director of the Mexican Federation of the Aerospace Industry (FEMIA). Executives from this sector estimate exports will be worth US$7,500 million by the end of the year. Regarding employment, the industry reports a labor force of roughly 48 thousand people. Twelve years ago, there were between 12 thousand and 15 thousand people employed in this sector. Today, there are 320 companies, but the prospect is to have between 450 and 500 companies in 2020, said Lizcano.