Surge in Mexican Aerospace Exports Forecasted for 2024
The Aerospace Meetings Querétaro 2024 recently facilitated vital connections between leading aerospace and automotive companies and new suppliers.
The event aimed to empower SMEs to meet larger corporations’ requirements through business meetings, conferences, and workshops.
At the event, Luis G. Lizcano, executive president of Femia, delivered a pivotal conference titled “Mexico: Navigating the Future of the Aeronautical Supply Chain.”
Lizcano anticipates 14% growth in Mexican aerospace exports for 2024, reaching $10.721 billion, driven by global aircraft demand.
The industry is optimistic for 2025, forecasting a 13% increase to $12.114 billion. This is due to sector recovery and strategic company relocations (Nearshoring).
Moreover, maintenance, repair, and overhaul (MRO) services are witnessing a surge, propelled by the rise in e-commerce during the pandemic.
Nevertheless, the sector faces challenges in developing specialized human talent and integrating Industry 4.0 technologies and digitalization.
This scenario, however, opens up opportunities for Mexican suppliers in fields such as electrical and electronic products, forging, plastic injection, and heat treatment.
Lizcano noted Mexican firms’ significant role in aerospace, now comprising over a quarter of total plants.
Mexico’s Rising Position in Aerospace
The United States previously dominated with 48% of 368 aerospace factories. Mexico now holds the second position with 28% (104 plants).
Moreover, Lizcano emphasized the growing importance of the space industry.
Private companies now lead the new space race, with Mexican firms contributing significantly, including to SpaceX’s Starship Raptor engines.
The aerospace sector in Mexico stands on the brink of further growth, with the right approach promising a robust and improved industry.
The Aerospace Meetings Querétaro 2024 featured participants like Bombardier and GE Aerospace.
It highlighted the sector’s potential and collaborative efforts driving its expansion.
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