Casablanca- A report issued by the Moroccan Observatory for Industry (MOI) reveals a positive performance of the aerospace industry for the first six months of the current year and that it could stand the global financial market fluctuations.
The MOI report confirms that the aerospace industry generated sales revenues of MAD 3,8 billion (USD 450 million) during the first quarter of the current year, an increase by 25% compared to the performance achieved in the first quarter of last year.
In June 2013, the sector generated sales revenues estimated at MAD 519 billion (USD 60 million) compared to MAD 484 billion reached in June 2012.
The imports indexes jumped during the first quarter of the current year owing to the steep rise in the volume of exports in the aerospace industry followed by the automobile industry that achieved sales revenues estimated at MAD 16 billion (USD 1.8 billion) in the first six months of the current year, an increase by 18% compared to the first quarter of the past year.
The aerospace industry represents new prospects for the Moroccan industry.
Morocco deployed substantial efforts to appeal to new investors mainly through tax exemption which has emboldened large industrial groups to invest in Morocco such as the Canadian multinational aerospace company Bombardier Inc.
The rapid growth in the aerospace industry prompted the need for a large pool of skilled machinists, aerospace engineers, and other profiles in the aerospace industry.
To that end, the National Institute for Aerospace Training intends to increase the number of its trainees for this year.