Taiwan aerospace firms secure US$2 billion in global orders

2020/03/27

Taiwan’s Aerospace Industrial Development Corp. and three other homegrown aviation sector firms secured international orders totaling NT$62 billion (US$2 billion) over the next 10 years, according to the Ministry of Economic Affairs March 25.
 
 State-backed AIDC, Gongin Precision Ind. Co. Ltd., Mirle Automation Corp. and Vision Wide Tech Co. Ltd. will tap opportunities predominantly in the global aerospace composites market. GPIC specializes in waterjet cutting equipment; MAC, 3D laser-cutting and -drilling systems; and VWTC, ultrasonic machining.
 
 Demand for composites is on the rise as aviation industry operators seek to purchase lighter aircraft with enhanced corrosion-resistant properties. These attributes significantly reduce fuel and maintenance costs, as well as help keep abreast of tightening emissions controls.
 
 Chicago-headquartered Boeing Co., the world’s largest manufacturer of commercial jets, is forecast to accept orders for 44,040 aircraft with a production value of US$6.8 trillion from 2019 to 2038. According to the company’s 2019 Commercial Market Outlook, the planes will account for more 50 percent of composites produced worldwide.
 
 The MOEA said all four companies are positioned to take a share of this business on the back of extensive industry know-how, cutting-edge processing technology and strong international supply chain presences. The strategy going forward is to support more such collaborations and ensure Taiwan grows its footprint in this niche market, the ministry added.
 
 Aerospace is a core component of the government’s five-plus-two innovative industries initiative. The national development strategy encompasses other high-growth sectors of biotech and pharmaceuticals, green energy, smart machinery and Internet of Things, as well as promotion of the circular economy and a new paradigm for agricultural development.

Source: Taiwan Today (https://taiwantoday.tw/index.php)