Aircraft and Parts
Singapore
Overview
2004 2005 2006 (estimated)
Total Market Size 6253 6851 7115
Total Local Production 2508 3133 3846
Total Exports 1456 1992 3012
Total Imports 5201 5710 6281
Imports from the U.S. 3206 4160 4576
Footnote: Exchange rates used:
2004: US$1 = S$1.63
2005: US$1 = S$1.66
2006: US$1 = S$1.56
The above statistics are unofficial estimates. Figures are in millions of US$
The Singapore’s aerospace industry comprises primarily maintenance, repair and overhaul (MRO), manufacturing, and research & development. Singapore accounted for about 25% of the Asian MRO market share and 6% of the global share in 2005. Its overall aerospace industry registered output of US$3.133 billion, with MRO services contributing 90% of the total output. Manufacturing accounted for the remaining 10%.
Singapore Changi Airport’s strong traffic throughput and connectivity not only contribute to the demand for MRO services, but also allow aircraft parts to be sent to Singapore for repair and then returned to airlines quickly.
Best Products/Services
In 2005, Asia led the world with 7.6% growth in international passenger traffic and 3.2% growth in air cargo, exceeding the global figures of 6.5% and 3.0% respectively. For these reasons, airlines in Asia are aggressively expanding and poised for fleet renewal. Singapore aims to be at the vanguard of growth to capture a larger share of the global MRO business. Consequently, there are tremendous opportunities in Singapore to grow MRO activities and to supply aircraft parts and systems.
Opportunities
The optimistic outlook for the industry has induced the Civil Aviation Authority of Singapore and the Defence Science & Technology Agency to stage a new air show in place of the Asian Aerospace exhibition to serve as a global marketplace and networking platform for the military and civil aviation community. The Singapore Airshow 2008 will be held from February 19 to 24, 2008.
The Singapore Airshow will be a key platform for American contractors to showcase their capabilities for the Asian aerospace and defense audience.
Resources
Trade Show
Singapore Air Show 2008
February 19-24, 2008
http://www.singaporeairshow.com.sg
Singapore Government Offices
Singapore Economic Development Board
Civil Aviation Authority of Singapore
Defense Science & Technology Agency
U.S. Commercial Service, Singapore Contact
NG Haw Cheng, Commercial Specialist
Email: Hawcheng.Ng@mail.doc.gov