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SINGAPORE: The Singapore Airshow has seen industry players secure about US$10 billion in deals so far this week.
The number is down about 23 per cent from the previous show in 2008, but double what the event organisers had predicted amid the improving global economy.
Singapore has to compete with the likes of Dubai and Farnborough in the UK for its aviation industry visitors but it is confident it can continue to grab the big players.
Many deals appear to have taken off at the Singapore Airshow this year as the aviation industry makes a tentative recovery from last year's economic crisis. Some 70 per cent of the deals signed were in the commercial space, but few major contracts by the aircraft giants Boeing or Airbus.
Shashank Nigam, CEO, SimpliFlying, said: "I don't think we should read too much into the numbers because if you drill it down, there were no new aircraft orders. Most of the deals are coming from MRO maintenance, aerospace and the biggest order was from the Indian military, for missiles.
While some uncertainty remains in the sector, organisers are now turning their sights on the next event in 2012 and are hoping to sign on some newer players.
One prominent visitor this year, which could shake up the scene in 2012, is the Commercial Air Corporation of China or COMAC. The company unveiled its much anticipated C919 passenger aircraft for the first time outside China this week.
COMAC believes it will be able to deliver faster, more economical aircraft to Asian markets when the smaller passenger carrier, ARJ-21, comes to market late this year.
Jimmy Lau, managing director, Singapore Airshow & Events,s aid: "Comac is planning to double their space for 2012. I think everybody is looking forward to their entrance into the market. They've promised me that once the prototype is available and certified, it will be on the ramp for 2012, barring any delays."
Whether the big deals return in 2012 or not, it is clear that China's presence on the world aviation stage will surely be boosted when its airliners come to market. - CNA/vm
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