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Morocco making a name for itself in aeronautics sector [How We Made it in Africa]
A look at Morocco’s progress in creating an aeronautics industry, and what remains to be done to build on that achievement:
Morocco holds a strategic position on the African continent. Companies often choose to set up first here to gain access to other markets in Africa. Indeed, its geographic proximity to Europe, its political stability and a cheap workforce constitute a powerful advantage.
This is especially true for the aeronautics sub-contracting market. However, there is still a long way to go to be among the top performers in this sector.
The Moroccan aeronautics sector posted annual growth rates of 15% to 20% between 2008 and 2013. Today over 100 companies in the aeronautical sector are set up in Morocco, in total employing over 8,000 people.
Among them are key international players like Bombardier, Airbus, Boeing and Dassault Aviation. The sector is generating a turnover of around €800m (about US$1bn) which comprises 5% of Morocco’s total exports and is one of the top priority sectors of the ‘industrial emergence’ plan…[Full Story]