MANILA, Philippines - The aerospace and electric vehicle industries aim to grow their revenues and sales in the long-term under their respective roadmaps.
According to the Department of Trade and Industry (DTI), the Aerospace Industries Association of the Philippines (AIAP) and the Electric Vehicle Association of the Philippines (EVAP) are set to present their respective industry roadmaps on Thursday.
Under the aerospace manufacturing industry roadmap, the AIAP is proposing a long-term of goal of “establishing the country as an aerospace manufacturing hub in ASEAN (Association of Southeast Asian Nations).”
As the AIAP aims to make the country a manufacturing hub in the region, it is also targeting to increase its revenues to $1.429 billion by 2022 from the estimated $385 million in 2013.
The AIAP also wants to increase its employment by generating 8,300 direct jobs by 2022 from the 2,200 jobs it offered last year.
The industry plans to build international capability and expand markets with government support.
The local aerospace industry dates back to 1941, when flag carrier Philippine Airlines marked its first flight, making the country one of the pioneers in the aviation industry in Asia.
The industry has then expanded into aerospace parts manufacturing.
At present there are three key players in aerospace manufacturing present in the country they are: MOOG Controls Corp., B/E Aerospace and Jamco Aerospace Inc.
Meanwhile, the EVAP intends to promote the use of EVs for eco-friendly and efficient transport in the country.
Under its roadmap, the EVAP projects to achieve P4.44 billion worth of EV sales in the domestic market by 2015, well-above last year’s P214.2-million sales.
To achieve its goal, the EV industry roadmap focuses on program development, local market build-up, production capacity enhancement, local and export markets expansion.