Opportunities for Growth in the Aerospace Industry in Mexico
The aerospace industry in Mexico has not only shown a clear and rapid recovery following the pandemic but also a promising expansion of the sector. Thanks to the country’s attractive geographical location, its existing trade agreements, and its highly skilled workforce, growth in the aerospace industry is expected.
Mexico currently ranks 12th in terms of production in the global aerospace sector, generating $9 billion annually over the last decade. This underscores the country’s relevance to the aerospace industry and the need to continue promoting its growth.
Importance of the Aerospace Industry in Mexico
Besides generating substantial economic revenue, the aerospace industry’s importance lies in the significant number of jobs it creates across the country. In fact, it is estimated that approximately 60,000 jobs are directly created by this sector in 19 states of Mexico.
According to forecasts from the Mexican Federation of the Aerospace Industry (FEMIA), the sector is expected to maintain its strong recovery momentum this year with a growth rate of 16%. In 2024 and 2025, growth is expected to stabilize at rates of 14% and 13%, respectively.
As a result of this growth, it is predicted that by the end of 2024, there will be a new record in exports, generating a total of $10.63 billion, finally putting an end to the post-pandemic negative trend.
As a result, the strongest regions for the industry will further strengthen and serve as solid benchmarks for the sector. These regions include Sonora, Baja California, Nuevo León, Chihuahua, and Queretaro.
Challenges for Suppliers in the Mexican Aerospace Industry
However, to meet the growth demand and achieve or surpass projections, there must be an increase in Mexican suppliers’ willing to take the lead and drive the industry forward for the benefit of the country.
In this regard, the main obstacles facing the aerospace industry in Mexico are:
- Lack of raw materials
- Lack of certified suppliers
In response to this shortage of aerospace industry suppliers in Mexico, various clusters aim to highlight this business opportunity and promote the emergence of actors capable of meeting the high demand for materials in the sector.
Some of the actions taken to promote the importance of the sector include events like the Aerospace & Advanced Manufacturing Congress, organized by FEMIA and Monterrey Aerocluster. This congress has been organized to enable small and medium-sized enterprises (SMEs) interested in diversifying their market to become the Mexican suppliers that are needed. In this way, support is provided to manufacturing companies, from machining to stamping, including more specialized activities such as thermal, chemical, and coating treatments.
At Advance Real Estate, we seek to participate in and promote the progress of the aerospace sector and the business opportunities it brings. We offer industrial warehouse rental services within the Aeronautical Corridor to help new suppliers get started in operations.
Information Sources
- mexico.eregulations.org/media/Industria%20Aeroespacial%20en%20M%C3%A9xico.pdf
- www.mms-mexico.com/noticias/…/femia-pronostica-crecimiento-de-18-para-la-industria-aeroespacial-en-2022
- a21.com.mx/aeroespacial/…/retoma-industria-aeroespacial-senda-del-crecimiento-femia
- mexicoindustry.com/noticia/retos-en-el-sector-aeroespacial
- www.mms-mexico.com/articulos/industria-aeroespacial-en-mexico-oportunidades-y-nuevas-fronteras
- advance-realestate.com
