channelnewsasia.com - Aerospace manufacturing in Asia expected to outpace West
   
 
  blogs  
 
yournews
   
   
Video Finance Lifestyle Travel Weather Discussion TV Shows
CNA Live    | About Us 
 
  Home ›
 
Singapore News

 
 

Aerospace manufacturing in Asia expected to outpace West
By Desmond Wong, Channel NewsAsia | Posted: 27 May 2009 1835 hrs

 
 
Photos  of

   
 

SINGAPORE: The aerospace manufacturing sector in the Asia Pacific is set to outgrow its Western counterparts as competition increases. And major players in the aerospace industry are strengthening their manufacturing capabilities to meet the expected demand.

Aerospace is a US$300 billion business and competition for a slice of the pie is stiff. And as industry players watch their margins, observers say original equipment manufacturers (OEMs) will be drawn towards the Asia Pacific.

Singapore's Trade and Industry Minister, Lim Hng Kiang, said: "The aerospace manufacturing industry in the Asia Pacific is set to grow at a much faster pace than the mature North American and European markets. With greater competition, aerospace OEMs will be more cost conscious and move closer to the growing customer bases in the Asia Pacific."

The minister was speaking at an industry event in Singapore, which has been growing its aircraft maintenance, repair and operations or MRO sector.

With Singapore's MRO capabilities already well-established, industry players say the next step is to look beyond the downturn and to improve the aerospace manufacturing sector.

MRO currently accounts for the bulk of Singapore's aerospace industry's output, but industry players are keen to change that.

Chief executive of the Association of Aerospace Industries (Singapore), Aloysius Tay, said: "Today, we are doing about 90 per cent MRO and 10 per cent manufacturing. So what we want to do is to maintain or grow our MRO sector. However, we want to move our manufacturing base further from 10 per cent, hopefully to achieve 20 to 30 per cent by 2030."

There are plans to help Singapore's small and medium-sized manufacturers accelerate their approval processes to meet the exacting standards of the international aerospace industry.

- CNA/yt

 

 
Add Your Comments   View Comments ()
Name : E-mail:
Your views   (Max 600 chars)
word count:   more chars available.
........................................................................................................................................
Enter the code exactly as you see it.
I have read terms & conditions
  



Other singapore News
Singapore share prices down early Wednesday
SingTel's Q3 net profit up 24% to S$991m
CapitaLand sees overwhelming response to China condominium
Australand reports net loss of A$298.2m
Valuetronics' Q3 net profit up 7.8% on-year
Novena Holdings returns to profit, gets out of furniture business
URA puts up Mohamed Sultan Road office site for sale
AV Jennings reports net profit of A$3.2m
Cogent plans to raise net proceeds of S$9.1m in IPO
CMT buys Clarke Quay from CapitaMalls Asia for S$268m
Citibank becomes bank clearing member for SGX securities market
Number of business travellers set to increase this year
Fabchem China's Q3 net profit falls 14.9% to US$1.7m
Singapore shares end higher on bargain-hunting

 

 
Affiliate Sites:
 
About Us  |  Contact Us  |  Advertise with Us  |  Terms & Conditions