Mexico's aerospace industry grows

Mexico City, Aug 9 (IANS/EFE) The 287 aerospace companies operating in Mexico posted exports totaling $5.4 billion in 2012, up 24.2 percent from the previous year, a Mexican Aerospace Industry Federation, or FEMIA, official said.

The global aerospace market is worth between $500 billion and $600 billion, FEMIA director Carlos Bello said.

Mexico's aerospace industry has five "clusters" in Queretaro, Nuevo Leon, Chihuahua, Sonora and Baja California states, Bello said.

Industry executives plan 24 projects with new investment, the FEMIA director said.

"Mexico was the country that attracted the most foreign direct investment (FDI) in the global aerospace industry" for the fourth consecutive year in 2012, Bello said.

The 3rd Mexico's Aerospace Summit will be held in Queretaro Aug 26 and 27, showcasing the industry's products, the FEMIA director said.

The industry has a strategic role to play in the Mexican economy because it has a high level of technology, innovation, competitiveness, design, engineering and research and development capabilities, Bello said.

--IANS/EFE

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