Mexico’s Aerospace Growth to Reach New HeightsThu, 12/06/2018 - 10:55
There is a bright future for the aerospace sector in the coming years in Mexico, according to Carlos Robles, Vice President of Bombardier Queretaro in his keynote speech at Mexico Aerospace Forum 2018 this Wednesday at the Hotel Sheraton María Isabel in Mexico City. “The future of the aerospace sector is bright,” he said. “The sky is the limit and the opportunities keep growing at a steady pace.”
The context in which the aerospace sector operates in Mexico and internationally has challenges, but the opportunities are greater, he said. “The political context, the fluctuations in the exchange rate, the renegotiation of trade agreements and México’s presidential elections are factors that create a complex environment for the sector,” he explained. But he highlighted that this impact has not stopped the sector’s steady growth.
According to Robles, the aerospace sector has experienced sustained growth over the last few years, positioning it as a strategic axis for the country. “In the last 10 years the sector has had an annual growth rate of 14 percent, positioning it as the fastest growing sector in the country,” he said.
However, the sector’s steady growth also presents challenges for the companies and the sector itself, he warned. “The main challenge is the coordination of more than 360 industrial installations that operate in the sector, which are a key to support the success and continuous growth of the aerospace sector in Mexico,” he explained.
Other challenges that impact the development of the sector are related to the training of the labor force and the development of strategic alliances to become competitive as a sector. “One challenge is to encourage talent development to satisfy the steady growth of the aerospace sector,” he continued. A third challenge he identified was the transformation of Mexico’s supplier competitiveness by reducing costs to compete with players coming from regions such as Asia.
Robles closed his speech sharing the upcoming opportunities for the country. “By the end of the year, the aerospace sector is expected to provide more than 56,000 directorate positions and surpass the current export rate,” said Robles.
He said he thinks Mexico has a positive reputation as an aerospace hub but that there is still plenty of room for it to grow. “Whenever a potential client comes to Mexico for the aerospace sector, there is an image of a growing sector with potential opportunities. The outlook is very positive,” he concluded.