info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Image from Moroccoworldnews
Morocco’s aeronautic industry continues to be one of the fastest-growing industries in the country. The industry’s annual exports settled at MAD 16 billion ($1.4 billion), up from MAD 10.5 billion ($958 billion) last year, official data indicates.
Despite a hiatus due to the COVID-19 crisis, Morocco’s aeronautic industry remained largely resilient.
At the height of the pandemic, the global aeronautic industry contracted by a sweeping 50%, while Morocco’s industry contracted by 29%. And while layoffs within the industry reached 40% globally, in Morocco it stood at 10% of the total labor force, according to a report from the US Trade Administration.
The North African country boasts a diversified aeronautic industry. Morocco is currently home to subsidiaries of 140 aerospace companies that manufacture finished aircraft, provide maintenance, and build airport infrastructure among others, the US Trade Administration data indicates.
The significant growth in the sector is largely the result of the presence of internationally certified subcontractors in the local market. In addition, Aeronautic-related business activities in the country are also present. The country is home to factories specializing in the manufacturing of engineering parts.
Hence, the country is “a one-stop shop” for aerospace parts, argues an expert cited by Qatari news outlet Al Jazeera.
The industry is also a major job creator. As of 2019, the industry sustained 17,500 job positions, with female labor participation set at 40.6%, way above the national average of 21.6%.
Morocco has especially invested in infrastructure to attract manufacturers in the sector. The country currently holds a number of industrial zones solely focused on the aerospace industry.
In 2020, Morocco’s aerospace industry ranked 36th globally and third in the Middle East and Africa region in an aerospace manufacturing attractiveness ranking produced by PricewaterhouseCoopers.
