Since 1990, Singapore’s aerospace industry has grown at
an average yearly rate of 13%, fuelled by the expansion in
the aviation sector in the Asia Pacific region and thanks to
the Singapore government’s aspirations to develop it.
Today, according to EDB’s latest figures, the aerospace industry
employs 19,000 people and generates a turnover of S$7.1 billion.
Equipped with world-class airport infrastructure, excellent connectivity,
a skilled workforce, strong technology base, and a critical
mass of aerospace activities, Singapore is uniquely placed to
serve as a strategic base for aerospace companies to expand
into the Asian markets and beyond.
Not only considered as a hub for passengers and freight, Singapore
gained recognition as aerospace hub. The strong base of
companies offering a full range of MRO (Maintenance, Repair
and Overhaul) services for airframe, key systems and components
of the aircraft, as well as the strong financial, regulatory
and logistics infrastructure here make it suitable for MRO companies
to undertake such services, whether in partnership or on
their own. Singapore currently accounts for 22% of Asia Pacific’s
MRO output.
To assist the expansion of the industry, Singapore government
is developing Seletar Aero+sPace Park, a 140 hectare project
which will cost around S$60m and should be completed in 2018.
Apart from attracting more aerospace manufacturing projects,
Singapore is developing both its Research and Development
(R&D) and training and education capabilities. EADS, Pratt &
Whitney, and GE have found Singapore to be an attractive location
for R&D activities because of the ready availability of talent,
a strong intellectual property regime, a cost competitive
business environment, and a vibrant research framework.
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