The figures were announced by Industry Minister Moulay Hafid El Alamy in a statement to local media saying that the goals set for the aeronautics sector include reaching a rate of local sourcing of 35% by 2020.
He pointed out to the increasing investments by global giants in the sector, which grew by 18% in 2017 compared to 2016.
“The results and the achievements confirm our vision,” the Minister said, adding that the sector employs today more than 15,000 people.
Moroccan aeronautic industry is growing rapidly thanks to incentives granted to investors, proximity to Europe, low labor costs, stability and political will to make this sector a driving force of economic growth and development.
Morocco continues to attract foreign investment and gain trust of giant manufacturers such as American Boeing, which aims at creating an “ecosystem” that will attract around 120 of its suppliers to boost Morocco’s aeronautics exports by $1 billion and create 8,700 jobs.
Boeing already has a joint venture with France’s Safran in Casablanca to build wire bundles and harnesses for aircraft makers, including Boeing and Airbus.
Besides Boeing, other global aviation industry giants launched investments in Morocco including Bombardier, Latisma, Alcoa and Stelia, a subsidiary of Airbus.
Up to September 2016, 121 companies have been operating in Morocco’s aeronautics sector, which ranks 15th worldwide in terms of attracting aviation industry investments.
Training features prominently in Morocco’s plan to boost its attractiveness for aviation industry investments. The IMA aeronautics institute (Institut des Métiers de l’Aéronautique), near Casablanca’s international airport, provides aerospace companies with skilled workforce to meet manufacturing requirements.