Philippine aero industry set to take off

MANILA, Philippines - The Philippine aerospace industry is seen to post revenues of up to $1.5 billion in the next 10 years.

From only $5.9 million in 2008, the sector’s revenues surged to $226 million in 2014. 

As of the third quarter of last year, revenues from exports of aerospace products already reached $309 million.

The Department of Trade and Industry (DTI) said Philippine key industry players composed of aviation parts and components manufacturers, maintenance, repair and overhaul providers, airlines, and aviation training organizations, would join the Singapore Airshow next month.

The Singapore Airshow is a premier event for the aerospace manufacturing and support industries within the Association of Southeast Asian Nations (ASEAN).

The local industries’ participation in the event is organized by the Board of Investments, the industry development and investments promotion arm of the DTI, in coordination with the Foreign Trade Service Corps and the Civil Aviation Authority of the Philippines.

“Our participation in the Singapore Airshow affirms the confidence and competitiveness of the local aerospace manufacturing and aviation industries. These industries have charted significant growth and we see these maturing industries ready to compete in the global market,” Trade Undersecretary for Industry Development Ceferino Rodolfo said.

Rodolfo said the country’s participation in the Singapore Airshow implements one of the strategic initiatives outlined in the Philippine Aerospace Industry Roadmap.

“The growth of the aerospace and aviation industry will mean more export earnings for the country and more quality jobs for Filipinos particularly for the country’s graduates of aviation-related courses. We will take advantage of the airshow, and others of this nature, as an opportunity to create traction for our positioning to be the aerospace manufacturing hub for ASEAN, ” he said.

As of the third quarter of 2015, revenues from exports aerospace products already reached $309 million.

Meanwhile, the DTI noted the growing number of graduates of aviation-related programs in the country based on figures culled from the Commission on Higher Education.