PUTRAJAYA,Malaysia,Dec. 17,2024 -- The Civil Aviation Authority of Malaysia (CAAM)has announced the appointment of Futurise Sdn Bhd (Futurise) as the Secretariat of the Advanced Air Mobility (AAM) Steering Committee. The appointment is underpinned by Futurise's established regulatory sandbox expertise in various new innovations including drone technologyand will nowbe involved in assisting CAAMin the development as well as charting the regulatory direction of the AAM industry.

CAAM Appoints Futurise to Spearhead Advanced Air Mobility Steering Committee for Malaysia

This appointment comes at a pivotal moment as CAAM recognises the immense potential AdvancedAirMobility (AAM)holdsforMalaysia,positioningthenationattheforefront ofnext- generation transportation solutions within the low-altitude economy. As urbanisation and congestion strain traditional infrastructure,AAM presents innovative alternatives for faster,more efficient,and sustainable travel,particularly in urban hubs and remote regions. Malaysia's strategic location,coupled with its advancing technological capabilities and government initiatives like the National Transport Policy,lays a solid foundation for AAM to revolutionise the transportation landscape. By integrating cutting-edge solutions such as eVTOLs(electric VerticalTakeoffandLandingaircraft) anddrone-basedlogistics,thecountry canunlock significanteconomicopportunities,drivethegrowthofindustriessuchasmobility andair-basedservices,andimproveoverall connectivityandaccessibility.Withthisprogress,Malaysia is poised to lead the development of a thriving,sustainable low-altitude economy.

In the soon to be released AAM industry report,which is a collaboration between Futurise andMalaysianIndustry-GovernmentGroupforHighTechnology(MIGHT),theintroductionof AAMisexpectedtogenerateRM70bninadditionalrevenues,representinganadditional1.9% of total revenues in the economy. Similarly,value added to the economy will also rise,contributing 2.3% to GDP or an additional RM34bn during the 2021-2040 period. The expansion of AAM services will also generate more income for workers involved in infrastructure preparation and operation,with 2.3% of total salaries or RM14bn shall be added to total income in the country.

"The future of transportation lies in the sky,and Malaysia is uniquely positioned to harness the potentialofAAM. By fostering innovation and creating the right regulatory environment,weareenablingthedevelopmentofthelow-altitudeeconomy,whichwilltransformindustries and improve quality of life for Malaysians," said Rosihan Zain Baharudin,CEO of Futurise.

Meanwhile,CEO of CAAM,YBhg. Dato' Captain Norazman Bin Mahmud stated,"The regulatoryenvironmentwillplayacrucialroleinthesuccessfuladoption ofAAMtechnologies. By creating a clear and effective regulatory sandbox,we can test,refine,and safely scale AAM solutions,ensuring that Malaysia leads the way in shaping the low-altitude economy while prioritizing safety and innovation."

Healsofurtheradded,"Itisourhopethatthiscollaboration withFuturisecanstrengthenthe efficiency of the country's civil aviation industry in a sustainable manner,in addition to ensuring compliance with international surveillance and safety standards".

Under the AAM Steering Committee,Futurise will play a key role in coordinating meetings/discussions,conducting preliminary evaluations of proposals from AAM industry players,and performing benchmarking studies. Futurise will also oversee the management of the regulatory sandbox,which includes drafting the operational concept documents (ConOps)inalignmentwithCAAM'spolicydecisions.Additionally,Futurisewillprovide expert adviceandinsights onthedevelopmentoftheAAMroadmap,ensuringaclearandstrategic path forward for Malaysia's integration into the low-altitude economy

AboutFuturise

Futurise is a wholly-owned subsidiary of Cyberview Sdn Bhd under the Ministry of Finance. Itismandated bytheGovernmentof MalaysiatomanagetheNational RegulatorySandbox,providingpublicpolicyadvisory andactingasakeyenablerofregulatorysolutions toexpedite innovation and future-proof Malaysia's economy.

AboutCAAM

TheCivilAviation AuthorityofMalaysia (CAAM)istheregulatorybodyresponsibletoensure theefficientmanagementofthesafetyandsecurityofthecivilaviationindustry. CAAM's roles include regulating,overseeing,and promote safety in the industry,provide air navigation services,and to ensure that the national and international obligations of Malaysia complies with universal safety and security standards.

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