This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 6/24/2019

Overview

Singappore - Aircraft and Parts Total Market Size

                                                

2016

2017

2018 

2019 (estimated)

Total Market Size

9,059

11,756

16,225

15,997

Local Production

6,449

7,004

7,606

8,260

Exports

9,896

10,112

13,553

14,821

Imports

12,506

14,864

22,172

22,558

Imports from the U.S.

6,958

8,357

13,193

13,844

Exchange rate: 1USD

1.38

1.38

1.35

1.35

$US millions (total market size = (total local production + imports) - exports)
Data Sources: Singapore Government Trade Statistics

Singapore is the regional leader in aerospace maintenance, repair and overhaul (MRO), manufacturing, and research and development (R&D). Since 1992, the Singapore aerospace industry has grown at a compound annual growth rate of 8.6% over the past two decades to become the most comprehensive MRO hub in Asia.  Singapore possesses a full range of capabilities that include airframe maintenance, engine overhaul, component repair, and aircraft modification and conversion.

Besides MRO, Singapore is also home to world-class aerospace design and manufacturing OEMs and suppliers. Products designed and manufactured in Singapore include avionics computers, engine fan blades, engine casings, engine gears, valves, seat actuators, and electrical power systems.

As the leading aviation hub in Asia, Singapore is well-positioned to take advantage of any growth opportunities that may arise in the coming years. Singapore Changi Airport is widely recognized as one of the premier airports in the world. Changi saw a 5.5% rise in passenger numbers in 2018 to a record 65.6 million. As one of the world’s busiest airports for air cargo, Changi handles over 2 million tons of cargo annually, with transshipment volume accounting for almost half of the throughput - evidence of the country’s well-established connectivity to the world.


Leading Sub-Sector 

Besides MRO services, sales prospects for products related to aircraft repair and overhaul, such as repair equipment for landing gears and nacelle, brake linings, tires, engines and fuel systems, avionics systems and equipment, fan blades, test equipment, etc., will likely remain strong over the next few years.  Going forward,  other than strengthening the MRO cluster, the aerospace manufacturing and R& D segments will also be further developed. Products designed and manufactured in Singapore include engine casings, engine gears, valves, seat actuators, and electrical power systems, among others.


Opportunities

Changi Airport’s passenger traffic has grown steadily in the past decade, with an average per annum growth of 5.4%. With the prospect of strong aviation growth over the next 20 years, particularly in the Asia-Pacific region, demand for air travel is expected to increase and traffic at Changi Airport is anticipated to grow in tandem. Singapore is particularly well-equipped to capture the demand from aviation-related services from this market given its MRO hub status, which will translate into greater opportunities for American suppliers to sell to this lucrative market. 

With 5 passenger terminals, 8 airfreight terminals and 3 runways ready around 2030, Changi Airport is future-proof for the next era of aviation.


Web Resources

Singapore Air Show 2020  

February 11 - 16, 2020


Singapore Government Offices
Singapore Economic Development Board
Civil Aviation Authority of Singapore
Defense Science & Technology Agency

Major Aviation Businesses
Changi Airport Group
ST Aerospace Ltd
SIA Engineering Company Ltd


U.S. Commercial Service, Singapore Contact

Mr. NG Haw Cheng, Commercial Specialist
Email: Hawcheng.Ng@trade.gov

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.