Vietnam’s aviation sector is among the fastest growing in the world, driven by economic growth, tourism, and urbanization. Post-COVID recovery has been strong, making Vietnam the world’s fifth fastest-growing aviation market. Government plans for significant airport development and private sector participation show Vietnam’s long-term commitment to infrastructure and modernization.
Aerospace market in Vietnam
Key opportunities for Canadian Aerospace companies in Vietnam
- Aviation training and simulators for pilots, technical staff, and ATC managers
- MRO solutions, including advanced technologies (big data, IoT, blockchain)
- Airport infrastructure upgrades and air traffic control systems
- Business jets and helicopters for private and charter services
Notable challenges for Canadian Aerospace companies in Vietnam
- Limited awareness of Canadian aerospace capabilities
- Lack of incentives and transparency in tenders
- Long relationship-building cycles
- High cost of pilot training
Industry highlights
4.1% aerospace contribution to Vietnam’s GDP
CAD 150 million of passenger traffic forecasted in Vietnam by 2035
2.5 million total jobs in Vietnam’s aerospace sector, 100,000 of which are direct
33 airports expected in Vietnam by 2050, including 22 expansion projects and 8 new airports by 2030
75% of MRO needs in Vietnam are outsourced
Vietnam business landscape
By 2030, Vietnam aims to develop an aviation industry that matches the capabilities of leading countries in the region and around the world. To support this goal, the Ministry of Construction plans to invest USD 15 billion in aviation infrastructure. The government also plans to develop new aerospace technologies by through foreign partnerships, and increased collaboration with private companies who specialize in the following areas:
- aircraft fleet
- airport infrastructure and security
- flight operations management
- aircraft management services facilities
- training, especially for pilots and technical engineers
The countries' policies are growing to allow private investment in airport infrastructure. For all infrastructure constraints, the sector remains a priority for socio-economic development.
Summary
Vietnam offers significant opportunities in aviation infrastructure, training, and technology. Canadian firms with expertise in MRO, simulation and training, and advanced technology can take advantage of this growth. Success will depend on their ability to navigate regulatory requirements and a relationship-driven business environment.
Contact us
For more information on aerospace in Vietnam, contact hanoitd@international.gc.ca