The Asia-Pacific is seeing the emergence of new aerospace manufacturing plants amid the global economic slowdown as the region benefits from a shift in the supply chain networks of original equipment manufacturers (OEMs) to lower-cost regions.
Among the new aerospace manufacturing plants that are starting operations in the Asia-Pacific this year are Honeywell Aerospace in Malaysia, Rolls Royce in Singapore and Spirit Aerosystems in Malaysia.
The entrance of OEMs into the region would attract their suppliers from North America and Europe to the Asia-Pacific market, he says.
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