VP Chen lauds Taiwan’s aerospace industry development

2018/12/10

Taiwan’s aerospace sector is going from strength to strength on the back of comprehensive government support measures and the nation’s strategic location in the rapidly developing Asia-Pacific market, according to Vice President Chen Chien-jen Dec. 6.
 
 Given the technical complexity of related manufacturing and R&D, aerospace is a key indicator of national competitiveness, Chen said. The government is leaving no stone unturned in fostering the long-term growth of the sector, as evidenced by its inclusion under the national defense component of the five-plus-two industrial innovation initiative, he added.
 
 Chen made the remarks during the opening of the Taiwan Aerospace Industry and Policy Forum in Taipei City. The two-day event is organized by Aerospace Industrial Development Corp. based in the central city of Taichung.
 
 According to the vice president, the success of public and private sector efforts to bolster the industry is illustrated by total revenues of NT$108.5 billion (US$3.52 billion) last year. This represented a year-on-year increase of 8 percent, higher than the global average of 6.8 percent.
 
 Citing industry estimates, Chen said demand for aircraft over the next two decades is set to generate US$6.3 trillion in business opportunities globally. With the strongest growth expected to come in the Asia-Pacific, Taiwan producers are poised to benefit from this trend, he added.
 
 On the domestic front, government support for the aerospace sector is highlighted by the indigenous jet trainer program, with AIDC contracted to develop and build 66 of the planes for the air force by 2026. In addition to enhancing national defense capabilities, the project will promote technological upgrading in areas spanning electronics, machinery, materials and smart manufacturing, Chen said.
 
 Going forward, the vice president said he expects AIDC to spearhead efforts to transform Taiwan into a major player in the global aerospace sector.
 
 A key plank in President Tsai Ing-wen’s national development strategy, the five-plus-two industrial innovation initiative targets the high-growth fields of biotech and pharmaceuticals, green energy, national defense, smart machinery and Internet of Things, as well as two core concepts: the circular economy and a new paradigm for agricultural development.

Source: Taiwan Today (https://taiwantoday.tw/news.php?unit=6&post=146732)