Aerospace sector in Singapore

An Expert's View about Aerospace in Singapore

Posted on: 1 Sep 2010

Latest overview of market potential for the aerospace sector in Singapore.

Sector briefing Aerospace Opportunities in Singapore Why Singapore? Singapore is an aviation hub for the region with a sizeable maintenance, repair and overhaul (MRO) industry offering UK companies good opportunities. It is looking to increase its industry and will offer opportunities in MRO, training and manufacturing. Certainly the economic downturn may have slowed the growth of the global aerospace industry but it has not diminished it. Despite the economic downturn, Singapore rd Airlines returned to profitability in the 3 quarter of the financial year with a net profit attributable to equity holders of S$404 million. overview of Singapore?s economy, business It was a turnaround from losses of S$307 culture, potential opportunities and an st milion in the 1 quarter and S$159 million in introduction to other relevant issues. nd the 2 quarter. Prospects remain positive as Asia?s aircraft fleet size has been projected to increase to 25,000 by 2030 from 16,500 today. Hence, maintenance, repair and overhaul (MRO) ?It is looking to increase its revenues from the region is expected to triple industry and will offer its current US$22 billion (S$30.6 billion) figure opportunities in MRO, by 2030. training and manufacturing.? Find general information on the Singapore market conditions on UKTI?s website. The Doing Business Guide for Singapore gives an UK Trade & Investment Sector briefing: Aerospace opportunities in Singapore aerospace companies such as ST Aerospace, Opportunities Hawker Pacific Asia and Execujet). Singapore is well known today as an air hub by The aerospace park will consists of: achieving more than 250 awards for Changi International Airport and is recognised as one ? Maintenance, Repair & Overhaul (MRO) of the world?s best airports. Since 1990, the ? Design and manufacture of aircraft Singapore?s aerospace industry has grown at systems, components and potentially an average rate of 13.3 per cent to become the light aircraft most comprehensive MRO Hub in Asia. ? Business and general aviation activities ? Regional aerospace campus, which will The aerospace industry has continued to house educational and training expand significantly in the past few years, institutes and research facilities fuelled by the expansion in the aviation sector in the Asia Pacific region and also due to the Companies that locate themselves at the fact that the Singapore government is seeking Seletar Aerospace Park stand to benefit from to increase the size and develop the the economies of scale as they will have close manufacturing industry in the aviation sector. proximity of suppliers, customers and partners within the aerospace community. Singapore being the MRO Hub for the Region Rolls-Royce Singapore is definitely well-equipped to meet Rolls-Royce, will be establishing a wide chord the demand as an aviation service hub for this fan blade (WCFB) factory in Singapore. The market in this region. The Singapore Economic facility will be located in Rolls-Royce?s Seletar Development Board (EDB) has mentioned that campus alongside their ?Facility of the Future?. ?Singapore is the No. 1 centre in Asia for aerospace maintenance, repair and overhaul This venture of a new factory for Rolls-Royce is (MRO).? their first outside UK to manufacture hollow titanium WCFBs where it is their speciality that There are also more than 100 international involves a sophisticated process. The total companies carrying out MRO in Singapore. investment that Rolls-Royce have set aside for These companies will have to adhere to these this new establishment will well exceed S$700 commitments of maintaining quality and million and creating approximately 500 new safety, it made Singapore a recognised one- jobs when it is fully operational. stop solution provider for airline?s MRO needs. ? Singapore Aero Engines Services Pte Ltd Singapore Airshow (SAESL), continued to expand in The biennial Singapore show, started from Singapore with a 12,000sqm extension 2008, is run by Singapore Airshow & Events, on the new facility to take on MRO of the joint venture between the Civil Aviation additional Rolls-Royce Trent engine Authority of Singapore and the country?s types such as Trent XWB. Defence Science & Technology Agency. ? Singapore Engineering Company Pte Ltd For the 2010 Singapore Airshow, it is Asia?s (SIAEC) has added a latest addition of largest and one of the top three aerospace and Hanger 6 which is the world?s first to defence exhibition in the world. It attracted accommodate the new generation for 800 companies from over 40 countries, Airbus A380 aircraft and has started including 62 of the aviation industry?s 100 their operation in Feb 2010. biggest companies, such as Roll-Royce, Boeing, Lockheed Martin, Northrop Grumman and Seletar Aerospace Park Honeywell. The Old Seletar airport, will now be transformed into the latest Seletar Aerospace This year, the Airshow saw an increase of 25 Park. Its aim is to be a word-class aerospace per cent in the total country/group pavilions. park. The park will take into account Seletar's As compared to 2008, there were only a total rich aviation heritage and character (Seletar of 18 pavilions, while for this year; there was a Airport served as a British military base until total of 22. It included first time attendees 1968 and it is a secondary airport used largely such as New Zealand, Russia, Switzerland and by flying schools and private chartered Romania. companies and is currently home to about 30 UK Trade & Investment Sector briefing: Aerospace opportunities in Singapore If you have any questions on the opportunities above, contact the UKTI contacts named in this report. Business opportunities aimed specifically at UK companies are added daily to UKTI?s website. These leads are sourced by our staff overseas in British Embassies, High Commissions and Consulates, across all sectors and in over 100 markets. You can be alerted to business opportunities on a regular basis by registering on the UKTI website. Find out more on UKTI?s business opportunities service on the UKTI website UK Trade & Investment Sector briefing: Aerospace opportunities in Singapore Major events and activities UKTI contacts Farnborough International Airshow Neil Walker Website: Senior Trade & Investment Officer British High Commission nborough2010/default.aspx Tel: (65) 6424 4310 Contact: Neil Walker Email: Email: Date: 19-25 July 2010 MRO ASIA 2010 Website: as/index.htm Date: 02 ? 04 November, 2010 Singapore Airshow Website: Contact: Neil Walker Email: Date: 14 ? 19 February 2012 Find full details of all events in this country and sector on the UKTI website. New export events are added daily to the site and you can register to be alerted to them on a daily, weekly or monthly basis UKTI?s Tradeshow Access Programme (TAP) provides grant support for eligible Small & Medium Sized Enterprises (SME's) to attend trade shows overseas. Find out more about UKTI support for attendance at overseas events UK Trade & Investment Sector briefing: Aerospace opportunities in Singapore Next steps - How UKTI can help ? Arranging appointments British companies wishing to develop their ? Organise seminars or other events for business in the Singapore market are advised you to meet contacts and promote your to undertake as much market research and company in the Chinese market planning as possible in the UK. UKTI?s team in Singapore, with its wide local knowledge and This work is available via our Overseas Market experience, can provide a range of services to Introduction Service (OMIS) a chargeable British-based companies wishing to grow their service which assists British-based companies business in global markets. wishing to enter or expand their business in overseas markets. This can include: ? Provision of market information To find out more about commissioning this ? Validated lists of agents/distributors work, or accessing other UKTI services and ? Key market players or potential specialist advice, please visit the UKTI website customers in the Chinese market to find contact details for your local UKTI ? Establishment of interest of such office. contacts in working with you Whereas every effort has been made to ensure that the information given in this document is accurate, neither UK Trade & Investment nor its parent Departments (the Department for Business, Innovation & Skills, and the Foreign & Commonwealth Office), accept liability for any errors, omissions or misleading statements, and no warranty is given or responsibility accepted as to the standing of any individual, firm, company or other organisation mentioned. Published 2010 by UK Trade & Investment. Crown Copyright © UK Trade & Investment Sector briefing: Aerospace opportunities in Singapore
Posted: 01 September 2010

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