Director ASIM Sandro VR, oct 12
In 2012, Mexico had a vision of reaching $12 billion in aerospace exports by 2020; however, this goal was not achieved at that time. Fast forward four years, and this target now seems more attainable, largely due to the global trend of nearshoring, which is facilitating the relocation of production chains closer to key markets.
According to Luis Lizcano, the CEO of the Mexican Federation of Aerospace Industries (FEMIA), exports for this year are expected to reach approximately $10.635 billion. This figure not only marks the first time exports will exceed pre-pandemic levels but also represents a historic record. This amount reflects a 9.8% increase from the $9.682 billion recorded in 2023.
Lizcano highlighted that thirty years ago, the aerospace industry was virtually non-existent in Mexico, but the country has since risen to the tenth position globally in this sector. Data from FEMIA indicate that export growth was also notable in previous years, with increases of 14% in 2022 and 7.5% in 2021, following the pandemic and the rise of nearshoring.
Mexico has become a crucial center for aircraft manufacturing, hosting over 350 international companies. The country has seen consistent growth in the production of aerospace components, including parts for airplanes and satellites. From 2019 to mid-2024, the sector attracted specialized foreign investment of $1.084 billion, with a significant portion coming after the pandemic.
Despite this growth, some aviation segments face challenges, particularly due to a slowdown in activity and the grounding of Airbus A320neo aircraft for engine checks. The Pacific Airport Group (GAP) anticipates a 3-5% decline in passenger traffic in 2024, which will likely affect revenue. Similarly, the Center North Airport Group (OMA) expects no growth in passenger movement, while Volaris predicts a 14% reduction in its operational capacity. (By https://www.milenio.com/negocios/industria-aeroespacial-mexicana-a-nivel-record)
