Composites Technology Research Malaysia Sdn Bhd (CTRM), a subsidiary of DRB-HICOM Berhad, has secured a new contract worth MYR6.64bn ($1.60bn) until 2030 to produce components for Airbus aircraft. This new contract is expected to boost revenue for local small and medium-sized enterprises (SMEs) in Malaysia’s aerospace industry by nearly 25%. The success of CTRM’s contract shows the confidence Airbus has in CTRM’s capabilities to produce aircraft components, and reflects the stable and conducive aerospace industry landscape in Malaysia as a global supply chain. 84% of CTRM’s revenue currently comes from Airbus, while Boeing contributes approximately 11%. It is expected that CTRM will hire an additional 24% of technical skilled workers, about 300 to 400 people, within that time frame.
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