Aviation: Morocco eyes $3bn turnover by 2020

By 2020, Morocco plans to bring revenues generated by its aviation sector to $3 billion. This was revealed by the country’s ministry of industry, trade and digital economy, Moulay Hafid Elalamy, who added that the sector should create more than 23,000 jobs over the period considered.

Moreover, Moroccan authorities intend to double local content rate (the level of contribution of local actors in the production chain) to 35%, in 2020.

“We are very confident regarding the achievement of goals set for the aviation sector, knowingly: create 23,000 new jobs, generate 26 billion dirhams of revenues and double the local content rate, bringing it to 35% in 2020,”said Moulay Hafid Elalamy.

This goal aligns perfectly with the 2014-2020 industrial acceleration plan (PAI) launched in April 2014, and in the framework of which many agreements with major firms operating in the sector have been signed.

Already part of the most dynamic sectors of the Moroccan economy in 2017, the aviation sector grew by more than 18% that year as compared to 2016.

Leveraging, fully, on the presence of its 121 actors and most importantly, on that of global majors like Bombardier, EADS, Boeing and Safran, the country intends to meet its demand which ceases not to grow. Indeed, the latter should exceed 40,000 aircrafts in 2030, driven by the government’s efforts to accelerate the industrialization of the country which by the way already is one of Africa’s most dynamic markets.

Source: ecofinagency.com

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