S$17.9b in deals sealed at this year's Singapore Airshow
The figure is down from the 20 deals worth US$32 billion (S$40.5 billion) garnered during the previous airshow in 2014, but organiser Experia Events says this is because more deals with undisclosed values were inked.
- Posted 19 Feb 2016 14:26
- Updated 19 Feb 2016 22:28
SINGAPORE: Eleven deals worth US$12.7 billion (S$17.9 billion) have been sealed at the Singapore Airshow 2016, down from the 20 deals worth US$32 billion (S$40.5 billion) that the previous edition of the show garnered in 2014.
However, this only applies to deals with disclosed values, said event organiser Experia Events on Friday (Feb 19). A total of 51 deals were inked this year, up from 44 in 2014, and there were more deals with undisclosed values - 41, compared to 24 then.
This "growing proportion" of announcements and deals with undisclosed values is reflective of an industry that is becoming "more sophisticated and competitive", said Experia Events in a statement wrapping up the end of the four-day trade segment for the six-day show.
Major deals sealed at this year's airshow include billion-dollar commercial airline contracts for Airbus and Boeing, as well as smaller deals involving engine sales, MRO (maintenance, repair, and overhaul) services, and defence services.
On the sidelines of the show, major aerospace firms like GE Aviation and Pratt & Whitney also announced multi-million dollar investments to boost their manufacturing capabilities in Singapore.
The next edition of the Singapore Airshow is scheduled from Feb 6 to 11 in 2018. Potential focus areas for the show include virtual and augmented reality, and showcasing the unique capabilities of Asian countries.