Singapore’s aerospace sector has attracted substantial investment commitments totaling over S$750 million (USD 555 million) from more than ten projects, signaling significant growth opportunities for the industry. This influx of investments is projected to create more than 2,500 job opportunities over the next three to five years, contributing to Singapore’s robust aerospace ecosystem. These investments span various segments of the global aerospace value chain, with a focus on fields such as advanced manufacturing and MRO, as well as innovation and sustainability initiatives.
Key players in the aerospace industry are actively expanding their presence in Singapore, contributing to the sector’s growth trajectory. For instance, industry giant GE Aerospace announced plans to inject over USD 650 million into factories and the supply chain in 2024. Aero Engine Services (SAESL) has announced a USD 180 million expansion plan to enhance its capabilities and capacity in aircraft engine maintenance, particularly for the Rolls-Royce Trent family of engines. This investment will increase SAESL’s capacity by 40% in engine overhaul and component repair, with the addition of new facilities spanning over 50,000 square meters. Similarly, Pratt & Whitney has committed to investing USD 20 million to expand its manufacturing capacity in Singapore, focusing on producing high-pressure turbine (HPT) disks for engines.
These expansions, announced at the Singapore Airshow 2024, underscore Singapore’s position as a preferred aerospace hub equipped with state-of-the-art infrastructure and a skilled workforce to support industry growth and innovation. Singapore’s aerospace sector continues to flourish, boasting over 130 companies involved in activities ranging from MRO to R&D. Notably, Singapore’s MRO output has rebounded faster than the global aerospace industry by a year, with a remarkable 16% year-on-year growth in aerospace output in 2023.
(Sources: EDB Singapore; GE Aerospace; Pratt & Whitney; The Straits Times)
