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Taiwan’s aerospace industry must manage to have its annual production value break through the NT$1 trillion (US$33.28 billion) mark in the next decade if it wants to absorb substantial funds from investors, according to Ho Mei-yueh, a policy adviser to the president.
Ho made the remarks when speaking at the 2017 Taiwan Aerospace Industry and Policy Forum, held December 5 in Taipei and hosted by state-run Aerospace Industry Development Corp (AIDC) and Taiwan Aerospace Industry Association (TAIA).
Statistics from the Industrial Development Bureau show that Taiwan’s aerospace industry scored NT$100.3 billion in annual production value in 2016, surging 8% on year, and the figure is estimated to soar past the NT$200 billion level by 2025.
But Ho said that Taiwan’s aerospace industry cannot set the goal at only NT$200 billion, and must challenge the goal of NT$500 billion and even NT$1 trillion, or few investors would inject funds into the industry.
Taiwan will not have a company like Boeing or Mitsubishi Heavy Industries to manufacture medium- and large-size passenger jets, Ho stressed, but the country can start with manufacturing homegrown planes for domestic use as a niche market before tapping into the market for small- to medium-size planes.
Also speaking at the forum, Taiwan’s vice president, Chen Chien-jen, said that the government has listed the defense and aerospace industries among its 5+2 Industrial Innovation Plan for priority development, and hopes that the ongoing domestic production program for advanced training fighter jets can effectively drive the transformation and upgrade of local industries.
Based on estimates by Boeing, the global aviation markets will see US$6.1 trillion spent on purchasing 41,030 passenger jets from 2017-2036, with the Asia Pacific market to command the largest share at 41%. Chen said this will prompt international suppliers of aerospace parts and components to station in Asian countries, and Taiwan can manage to seize the huge business opportunities through cooperating with international players and utilizing its advanced aerospace manufacturing technologies and high management quality.
Liao Jung-hsin, chairman of both AIDC and TAIA, said that only by reducing production, operation and maintenance costs and boosting product quality can Taiwan aerospace players boost their competitiveness. He continued that smart manufacturing and smart management are highly crucial for Taiwan players such as AIDC and Evergreen Aviation Precision to scramble for international orders for aerospace parts and components.
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