With the fast growth of air traffic, the aerospace industry of Thailand is pushed forward and anticipates good prospects for the coming years. Thailand’s airports, airlines, maintenance, repair and overhaul services and manufacturing businesses are all benefiting from this upward trend and encouraged by the authorities.
Air transportation is globally on the rise, as passenger air traffic has doubled every 15 years since the 1980’s. It is expected to grow by 3.4% per year over the next 20 years to reach 7 billion passengers by 2034. And with the rapid development of the Asia Pacific region, which is expected to account for 42% of global air traffic by 2034, many aerospace companies are looking for expansion in Asia Pacific.
Thanks to its central position and the attractiveness of tourism in Thailand, the country’s air traffic is currently growing three times faster than the global market. Both the number of aircraft movements and passengers movements are increasing quickly, with growth above 13% in the 2011-2015 period.
The growing and ambitious aerospace industry of Thailand
Thailand has numerous strengths to foster the development of the aerospace industry and attract foreign companies. Thailand notably has 38 commercial airports, diverse international and local airlines operating in the country, a fast-growing maintenance, repair and overhaul – MRO – services industry and several companies involved in the manufacturing business.
As the aerospace industry is an interesting driver of growth for the coming years and decades, the Thai government aims at helping its growth and attract more foreign companies. The Board of Investment of Thailand therefore offers a wide range of tax and non-tax incentives for various activities in the aerospace industry.
For a more comfortable reading, it is quite suggested to open the report in full screen!
Thailand’s Aerospace Industry – summary
- Industry overview – page 2
- Aerospace industry overview – page 2
- Airports – page 3
- Airline Business – page 4
- Maintenance, repair and overhaul – MRO – page 5
- Manufacturing base – page 7
- Why Thailand? – page 8
- Expanding the Thai aviation sector – page 8
- Robust human resources – page 9
- Strong supporting organizations – page 10
- Investment incentives – page 10
Document from February 2017 published by the Thailand Board of Investment North America