The aerospace industry embraces many advanced technologies and offers abundant opportunities in engineering, electronics, composite materials as well as manufacturing and systems integration. Today, Malaysia has about 200 aerospace-related organizations, with estimated combined earnings of more than RM27.5 billion and some 54,000 employees.
Malis Amanah Rakyat (MARA) has established a brand-name called Asia Aerospace City (AAC) with its nexus located at its 19-acres MIAT land within the vicinity of Subang Airport. The project, aptly named AAC-Subang, is geared to position Malaysia as Asia’s Engineering Hub with modern and high-tech facilities.
Pelaburan MARA Berhad (PMB), which is Majlis Amanah Rakyat's (MARA) investment and asset management company, will take a lead role as the master developer of the Asia Aerospace City (AAC) and in March 2014 has enlisted the service of UK's Atkins Global to develop AAC in Subang into a world-class facility. MARA conceptualized the AAC as a premier educational and business park (Edu Biz Park) as a platform for seamless interaction between academic institutions and aerospace related engineering services to churn out industry- ready human capital.
AAC is anticipated to attract global engineering services business worth US$1.1bn to Malaysia by 2020 and would enable Malaysia to become the aerospace hub of south-east Asia.