Mexico’s aerospace industry recovers

Mexico’s aerospace industry recovers

MEXICO - Estimates by the Mexican Federation of the Aerospace Industry (Femia) show that in 2023, it will have totaled US$10 billion in exports, which would surpass the US$9.7 billion recorded in 2019, its record year, prior to the COVID-19 pandemic.

"It is even expected that by 2024, the industry will exceed US$10.7 billion," said Luis Lizcano, president of the organization.

These projections are made despite Boeing's worldwide review of 737 MAX airplanes, where any adjustment could impact suppliers in Mexico, which supply airlines such as Aeroméxico.

He added that any movement in the aircraft market, especially in programs such as the 737 MAX, affects Mexico because it has a share in those programs and if volumes go up or down it affects.

Lizcano recalled that with COVID-19, exports of the aeronautical industry fell to US$6.6 billion in 2020 and have gradually recovered due to factors such as the recovery of world passengers and relocation.

"Large producers are re-engineering and are trying to develop additional suppliers in areas such as Mexico," he said.

An additional element is the expansion of the space sub-sector, in which Mexican companies are gradually beginning to join SpaceX's supply chain and that of its subsidiary Starlink.

"There is a tendency for Mexico to be present in the development of the space industry, although it is just developing," said the expert.

He affirmed that at least six Mexican companies have already ventured into space supply.