{"id":40471,"date":"2018-02-12T02:21:55","date_gmt":"2018-02-11T18:21:55","guid":{"rendered":"https:\/\/investpenang.gov.my\/honeywell-keen-to-proceed-with-penang-mro-project\/"},"modified":"2025-11-28T17:40:35","modified_gmt":"2025-11-28T09:40:35","slug":"honeywell-keen-to-proceed-with-penang-mro-project","status":"publish","type":"post","link":"https:\/\/investpenang.gov.my\/zh-hans\/honeywell-keen-to-proceed-with-penang-mro-project\/","title":{"rendered":"Honeywell keen to proceed with Penang MRO project"},"content":{"rendered":"

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” el_class=”sec-inner-banner” css=”.vc_custom_1703741584745{background-image: url(https:\/\/investpenang.gov.my\/wp-content\/uploads\/2023\/12\/contact-banner-bg.jpg?id=20253) !important;}” z_index=””][vc_column][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=”” el_class=”inner-banner-row”][vc_column_inner][vc_column_text]<\/p>\n

Honeywell keen to proceed with Penang MRO project<\/h1>\n

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12 February 2018<\/p>\n

[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”grid” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” css=”.vc_custom_1703764846254{background-color: #f3f5f8 !important;}” z_index=””][vc_column el_class=”fade-in animate”][vc_empty_space height=”120px” el_class=”height-x120″][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=””][vc_column_inner][vc_single_image image=”29166″ img_size=”full” qode_css_animation=”” el_class=”single-featured-image”][\/vc_column_inner][\/vc_row_inner][vc_empty_space height=”60px” el_class=”height-x60″][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=”” el_class=”content-row”][vc_column_inner][vc_column_text]SINGAPORE: Honeywell International Inc says its plan to establish a new aircraft maintenance, repair and overhaul (MRO) facility at the group\u2019s aircraft parts manufacturing plant in Penang is still in the preparation stage.<\/p>\n

Honeywell is keen to implement the project, mooted in 2016, as the group is bullish about MRO\u2019s future prospects, said Brian Davis, the group\u2019s air transport and regional commercial aerospace vice-president for Asia-Pacific.<\/p>\n

\u201cThe discussion about the MRO expansion is ongoing,\u201d Davis told The Edge Financial Daily on the sidelines of the Singapore Airshow 2018 last week.<\/p>\n

\u201cWe will keep you posted on that because it is the very key to our growth in Southeast Asia. It is progressing really well,\u201d he said, but did not elaborate.<\/p>\n

Earlier at a press briefing, Davis said the MRO market in the Asia-Pacific region is forecast to grow 4.3% per annum to US$22.6 billion (RM89.49 billion) over the next decade.<\/p>\n

\u201cThis year alone, Southeast Asia\u2019s commercial fleet is expected to generate US$5.8 billion in MRO demand,\u201d he said.<\/p>\n

By 2025, Davis said Asia-Pacific is expected to see the largest commercial air transport fleet growth globally at a 5.2% compound annual growth rate, higher than the global average of 3.4%.<\/p>\n

\u201cSpecifically, China\u2019s MRO demand is forecast to witness the largest net growth in the world, growing at 10.1% annually,\u201d he said.<\/p>\n

Currently, Davis said Honeywell\u2019s MRO facilities in the region are located in Singapore, the Philippines and China, catering to auxiliary power units, wheels and brakes, and avionics.<\/p>\n

Honeywell\u2019s existing facility in Penang, measuring 220,000 sq ft, commenced operations in 2009. It currently manufactures avionic systems for commercial aircraft with products like automatic flight controls, electronic flight displays, navigation systems, flight management systems, flight reference sensors, surveillance and warning systems.<\/p>\n

Davis said the MRO expansion in Penang is crucial to cater for the increasing aircraft fleet within the Southeast Asian region.<\/p>\n

\u201cCountries in Asia-Pacific, including China and Indonesia, make up the top five fastest-growing markets in terms of annual additional passengers in 2036 compared with 2016. Thailand will also become one of the top 10 largest aviation markets by 2036. Asia-Pacific will be the biggest driver of passenger demand for air travel from 2016 to 2036 with more than half of the global new passenger traffic coming from the region,\u201d he said.<\/p>\n

\u201cFrom 2017 to 2036, the Asia region will witness a demand for 16,050 new airplanes, valued at US$2.5 trillion, on the back of growing Asian gross domestic product (GDP) and passenger traffic. China will displace the US as the world\u2019s largest aviation market around 2022,\u201d he added.<\/p>\n

Davis said more than a quarter of Asian demand will come from Southeast Asia.<\/p>\n

\u201cThere is a projected demand for 4,210 new airplanes, valued at US$650 million over the next 20 years in Southeast Asia. Asean countries can add almost 25 million jobs and US$298 billion to the region\u2019s GDP by 2035 if they invest in aviation infrastructure,\u201d he said.<\/p>\n

For 2017, Davis, quoting Capa Centre of Aviation data, said Southeast Asia\u2019s total fleet in service grew 6% to 1,958 aircraft, from 1,851 in 2016.<\/p>\n

\u201cThe Asean region holds untapped opportunities for continued growth in the commercial aviation market industry, especially in tier-two cities,\u201d said Davis. \u201cLess airspace restrictions through OpenSkies and bilateral agreements such as the Asean Economic Community, coupled with the expansion of low-cost carriers, have played a key role in driving inter- and intra-region air connectivity.\u201d<\/p>\n

Honeywell International Inc.<\/strong>\u00a0is an American multinational\u00a0conglomerate<\/a>\u00a0company that produces a variety of commercial and\u00a0consumer products<\/a>, engineering services and\u00a0aerospace<\/a>\u00a0systems for a wide variety of customers, from private consumers to major corporations and governments. (Source: Wikipedia)<\/p>\n

Source:\u00a0The Edge Markets<\/a><\/p>\n

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12<\/h2>\n
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Mon<\/p>\n

February \u201818<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"author":2,"featured_media":29166,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[316],"tags":[],"news_year":[272],"news_month":[200],"local_insights_alphabet":[],"acf":[],"_links":{"self":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/40471"}],"collection":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/comments?post=40471"}],"version-history":[{"count":2,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/40471\/revisions"}],"predecessor-version":[{"id":40473,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/40471\/revisions\/40473"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/media\/29166"}],"wp:attachment":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/media?parent=40471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/categories?post=40471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/tags?post=40471"},{"taxonomy":"news_year","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/news_year?post=40471"},{"taxonomy":"news_month","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/news_month?post=40471"},{"taxonomy":"local_insights_alphabet","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/local_insights_alphabet?post=40471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}