Benefit from the tailwinds of increased global passenger traffic and aircraft demand, Singapore is the top one-stop solution provider in terms of aircraft maintenance, repair and overhaul (MRO) demand. The aerospace industry in Singapore contributed nearly 10% of global MRO output. And it produced S$8.9bil total output in 2016, with 8.6% compound annual growth rate over the past two decades.
There are over 130 aerospace services providers offering an array of services such as airframe maintenance, engine overhaul and avionics system repairs. Major players in the industry like Airbus, GE Aviation and Rolls-Royce all have significant footprints in Singapore.
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Most of the Aerospace companies were originally attracted by Singapore’s location and its links to both the world and region. Now they should be more confident with their long-term presence and investments in Singapore, as Asia Pacific will account for 37 per cent of the global fleet and it is projected to be the world’s largest aviation market in 20 years. Many major players, such as Royce-Royce, have a big portion of its civil business from Asia and Middle East. With a regional hub in Singapore, it brings a great advantage to have a presence close to the customers.
As mentioned earlier, manufacturing is the major sector in Singapore’s economic development. Thus, the strong manufacturing base of Singapore also attracts those major players, as well as many Original Equipment Manufacturers (OEMs) in the aerospace industry to set up a regional operations hub in Singapore.
The presence of these major players and OEMs created opportunities for 21,000 people as of 2017 with the majority in high skilled job roles in the aerospace industry. The Singapore government, on the other hand, has been providing great support to those aerospace workforces since their education. For example, the Skills Framework for Aerospace and the SkillsFuture Enhanced Internship Initiatives were in place by the government to ensure labors in Singapore are equipped with relevant skills and expertise. They provide information regarding aerospace industry sub sector, career pathways, as well as update emerging skills required to take new opportunities within the industry. In return, the skilled and well-educated workforces helped Singapore maintain its leadership position in the region.
With all the advantages attracting the industry player and OEMs, Singapore is able to offer solutions to all perceivable aviation needs as a one-stop shop. Now the country is seeking even more value-add in the aviation aftermarket service. The Airbus Asia Training Centre, which is fully operational in 2019, is the largest of its kind globally that offers pilot type-rating and recurrent training courses for all in-production jetliner variants. Meanwhile, even more capacity is increasing in the aerospace industry as the new development is taken place at Changi East Industrial Zone and Changi East T5. Changi Airport will be able to handle up to 135 million passengers per annum. It is predictable that Singapore is ensuring its leadership position as a leading aerospace hub for now and the future.
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