Mexico’s aerospace industry grows by 8%

Mexico’s aerospace industry grows by 8%

MEXICO – The Mexican Federation of the Aerospace Industry (FEMIA) forecasts that 2021 will close with exports of around US$8 billion, a growth of 8% compared to the figure recorded during 2020.

Rene Espinoza, president of the advisory board of FEMIA, indicated that it should be a priority for Mexico to start migrating from traditional manufacturing to Industry 4.0,in order to make the sector more competitive and the products produced by national companies have an added value at the level of world leaders.

Rene Espinoza added that from 2009 to 2019 Mexico's aerospace sector had a constant double digit growth of (14.3%) reached its record of exports and growth, reaching US$9.6 billion in exports and with more than 60,000 direct jobs before the pandemic arrived.

"Mexico must have a clear vision of where it wants to see itself, and it has the industrial muscle to achieve those goals. The pandemic was a heavy impact, but the sector is resilient and we see a great opportunity," Espinoza emphasized.

For his part, Ricardo Capilla, CEO of Airbus Mexico, stressed that although the pandemic forced changes in the industry, Mexico has a lot of potential and its aerospace sector is resilient to the crisis, and the different companies in the sector need to understand the situation to adapt and grow according to the circumstances.

"This industry has a great future, Mexico is the perfect place to stay, to evolve, and what we have to do in the country is to understand the value it can give to the sector and position itself in that way," said the Airbus executive.

Source: A21