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SINGAPORE: Spring Singapore, the enterprise development agency which aims to boost the SME sector, is launching a series of initiatives to help develop the testing and certification sector.
This will in turn support the growth of key and emerging industries in the aerospace and energy sectors.
Spring has launched two new certification programmes for suppliers to the aerospace industry which are widely recognised by major aircraft manufacturers.
It is also setting up testing and certification that will support the solar panel industry.
Singapore is aiming to meet the projected growth of demand for such technology in the region.
Globally, testing and certification activities are valued at more than S$50 billion a year and this is expected to expand at a compound annual growth rate of eight per cent.
The projected revenue for the sector stands at S$13 billion currently, but is expected to triple in the next three years.
The third-party testing and certification market in Singapore is valued at around S$2 billion.
- CNA/yb
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