Find Out the Opportunity to Invest in the Colombian Aeronautical Industry
A great investment opportunity is growing in Colombia thanks to an innovative sector: the aircraft parts manufacturing industry. Find out here why manufacturing aircraft parts is an ideal investment for your business in the country of beauty and the advantages that Colombia’s economy offers.
A country designed for the aircraft industry
The Colombian territory is traversed by three mountain ranges, one of them is the longest on the planet: the Andes Mountain range. While these natural features contribute to the country's unique beauty, they also create challenges for land-based transportation.
This situation has significantly boosted the Colombian aeronautical industry. Air transportation has become one of the most viable means of travel within the country. For instance, during 2023, more than 49 million passengers travel to and from airports in Colombia.
Thanks to this, Colombia not only boasts a substantial number of air passengers each year but has also cultivated an aircraft parts manufacturing industry. This sector has, in turn, contributed to the overall manufacturing industry, which, according to DANE data, recorded exports of USD 10,125.5 million from January to December 2023, indicating a strong and thriving industry.
Public and private sector support
The national government has also prioritized the development of this industry, since it has mentioned the importance of industrializing the Colombian Air Force and advancing in the construction of both aircraft parts and complete airplanes.
As a result, the country has reached agreements on the production of aircraft parts with large companies such as Airbus, showcasing both the growth potential of this industry in Colombia and the confidence that major brands have in investing here.
Competitive advantages of the industry
Those interested in investing in the aeronautical sector can count on several competitive advantages to make their businesses profitable and capitalize on this industry’s growth potential:
- Active Air Force: Colombia has one of the most active air forces in Latin America, providing the country of beauty with extensive industry experience and knowledge of the sector’s biggest problems and solutions, what drives this industry in Colombia.
- ·International Airports Network: The country has an extensive network of international airports, offering strategic economic support to advance in the creation of solutions within the industry’s needs.
- Growing Domestic Market: The number of passengers on domestic flights within the country has boosted the domestic market, as there is a significant demand for aircraft in daily use by citizens.
- Skilled Workforce: Colombian human talent is an important competitive advantage, with a skilled workforce for both technical tasks and the design and planning of aircraft parts production, with the potential to build complete airplanes.
- Regional Clusters and Support: The industry is supported by regional clusters and the ANDI Aerospace Committee, providing institutional backing and facilitating aeronautical investments.
- Strategic Location: Colombia’s strategic location is also an advantage for this sector. Located in the heart of the continent, the country has positioned itself as an export platform, with the capacity to take goods to other ports in the region with competitive times. For this reason, a company entering the country can reach other destinations on the continent with logistical advantages.
- Trade Agreements: Colombia has 17 trade agreements with several countries around the world, giving your company the opportunity to reach over 1,500 million consumers with tariff benefits.
- International Recognition: The Colombian aeronautical industry is recognized worldwide for its quality. For the sixth time, and third consecutive year, El Dorado International Airport, located in Bogotá, was awarded as the best in South America. The award was granted by the British audit company Skytrax.
- Sustainable Approach: The national economy is focused on sustainable solutions across all economic sectors, providing a sustainable approach to this industry and facilities to investors seeking to innovate sustainably, offering, for example, lower taxes.
Why invest now?
The growing demand for aircraft parts and the support of both the private and public sector make this a promising growth industry. Besides, Colombia's unique qualities, including an ideal geographic location and a domestic market with millions of consumers, make it an ideal place for sector growth and the investments agendas.
Furthermore, new military projects and increasing support for high-tech industries are driving aeronautical industry development. It is in part due to this that major aircraft manufacturing companies have already shown interest in investing in Colombia, showing confidence in both the industry and the national economy.
Don't miss the opportunity to invest in the aviation market, one of the most exciting and promising industries in Colombia. Learn more about aeronautical investment projects here.
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