Singapore - Country Commercial Guide
Aerospace

This is a best prospect industry sector for this country.  Includes a market overview and trade data.

Last published date: 2021-08-13

Overview

The recovery of Changi’s aviation hub from the COVID-19 pandemic remains a work in progress, though cargo traffic has picked up and more flight connections are available for passengers.  As of June, passenger flights to 70 cities were available, up from a low of 24 in mid-April 2020 at the height of the COVID-19 pandemic. Changi is now connected by cargo flights to 73 cities, with the throughput in April at 92% of the level before the pandemic.

The long-term outlook for Singapore remains relatively bright, driven by continued growth in the middle-class population in Southeast Asia, which should again drive rapid expansion for air travel within the region and beyond. 

As the leading aviation hub in Asia Pacific, Singapore continues to build on its infrastructure to ride future growth trends.  The Seletar Aerospace Park is a centerpiece of this effort.  Spanning 300ha, the dedicated aerospace park will host an integrated cluster of activities including aerospace MRO; design and manufacture of aircraft systems, components, and light aircraft; business and general aviation activities; and a regional aerospace campus for aerospace education, research and training.  These investments will go a long way to maintain, if not enhance, Singapore’s MRO hub status in the region, particularly when the global aviation market starts reopening.

Aerospace Trade Data 2018-2021 est.

 

2018

2019

2020

2021 estimated

Total Local Production

7,606

8,140

 7,489

6,890

Total Exports

13,553

16,249

10,158

9,658

Total Imports

22,172

25,153

14,894

12,967

Imports from the US

13,193

14,775

8,488

7,762

Total Market Size

16,225

17,044

12,225

10,199   

Exchange Rates

1.35

1.36

1.38

1.33

Units: $ millions
Source: IHS Markit

Leading Sub-Sectors

Post COVID-19, Singapore’s MRO business segment is still expected to thrive.  In addition to supplying to all aspects of the MRO business, Singapore will see new growth opportunities in areas of business aviation, regional training, and asset management. 

Opportunities

Singapore is consistently developing its aerospace industry, particularly in its MRO sector.  This will provide great opportunities in Singapore for MRO activities to grow and so are the supply of aircraft parts and systems.

To support the long-term growth of the logistics and aerospace industries, an industrial zone will also be developed for airfreight and air express operators as well as MRO activities.  These developments will offer excellent opportunities for U.S. businesses to supply the aerospace sector in Singapore.

With 5 passenger terminals, 8 airfreight terminals, and 3 runways schedule to come online in the 2030s, Changi Airport is arguably in good shape for the next era of aviation.

Resources

Trade Shows

Singapore Airshow 2022

February 15 - 20, 2022

Singapore Government Offices

  • Singapore Economic Development Board
  • Civil Aviation Authority of Singapore
  • Defense Science & Technology Agency
  • Major Aviation Businesses
  • Changi Airport Group
  • ST Engineering Aerospace
  • SIA Engineering Company Ltd

U.S. Commercial Service, Singapore Contact

Ng Haw Cheng, Commercial Specialist

Email: Hawcheng.Ng@trade.gov