Latest news with #AAM)IndustryReport
Barnama
21-05-2025
- Business
- Barnama
Futurise, MIGHT Launch Industry Report, Boost Malaysia's Air Mobility Ecosystem
REGION - NORTHERN > NEWS LANGKAWI, May 21 (Bernama) -- Futurise Sdn Bhd and the Malaysian Industry-Government Group for High Technology (MIGHT) have launched the Advanced Air Mobility (AAM) Industry Report, a strategic step forward in shaping the future of Malaysia's air mobility ecosystem by leveraging innovation, forward-looking regulatory insights and industry expertise to drive sustainable growth. In a joint statement, in conjunction with the Langkawi International Maritime and Aerospace (LIMA) 2025 Exhibition today, Futurise acting chief executive officer Shafinaz Salim said the AAM report outlines Malaysia's advanced air mobility initiatives and explores challenges faced by industry stakeholders. 'It also provides a long-term outlook for the industry over the next 20 years and offers strategic recommendations to integrate AAM into the nation's future development agenda,' she said, adding that the rapid global development of AAM indicates a significant market potential. bootstrap slideshow According to the statement, in 2022, the global AAM market was valued at US$8.15 billion and is projected to grow at a compound annual growth rate (CAGR) of 24.6 per cent from 2023 to 2035, reflecting its transformative impact. "In Malaysia, AAM holds the promise of substantial economic benefits. Between 2021 and 2040, the introduction of AAM is projected to contribute an additional RM70 billion in revenue, representing 1.9 per cent of total national income. "The sector is also expected to contribute RM34 billion in added value to the economy, equivalent to 2.3 per cent of the nation's gross domestic product (GDP)," it said. From an income generation perspective, AAM activities could inject RM14 billion in wages, accounting for 2.3 per cent of total national income, particularly benefiting workers involved in infrastructure development and operations. These projections highlight AAM's potential as a catalyst for new economic growth, enhanced productivity, and the creation of high-quality jobs. Shafinaz further noted that increasing investments from companies, venture capitalists, and governments reflect the sector's economic potential.
New Straits Times
20-05-2025
- Business
- New Straits Times
MIGHT launches reports to guide Malaysia's high-tech sector
KUALA LUMPUR: The Malaysian Industry-Government Group for High Technology (MIGHT) has released four strategic reports aimed at guiding the development of high-technology sectors in Malaysia. In a statement, MIGHT said the reports serve as reference points for policymakers, investors and industry players, offering data-driven insights on market size, growth potential, competitiveness and sector challenges. The reports launched are the Advanced Air Mobility (AAM) Industry Report, Exploring Malaysia's Space Frontiers 2024/2025, Aerospace Technology and Innovation Report 2025/2026, and Malaysian Shipbuilding and Ship Repair Industry Report 2025/2026. MIGHT co-chairman Tan Sri Ahmad Tajuddin Ali said the reports highlight key technologies and policy gaps that need to be addressed to strengthen Malaysia's high-tech ecosystem. On the maritime sector, he noted growing emphasis on eco-friendly ship designs, renewable energy integration and green vessels to boost sustainability and competitiveness. He also said the AAM report outlines the sector's potential in public transport, national security and logistics, while also pointing to hurdles such as outdated regulations, infrastructure limitations and a lack of local talent. "Our main focus is to overcome these barriers so Malaysia can emerge as a regional leader in the AAM sector," he said.
