Please Wait.....
Report
Singapore Aerospace and Defense Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 80 Pages I Mordor Intelligence
The Aerospace and Defense Industry in Singapore is projected to grow with a CAGR of more than?12?% during the forecast period.
The Singapore aerospace and defense sector has undergone an unprecedented disruption due to the COVID-19 pandemic. The commercial aerospace sector has been significantly affected by the pandemic, resulting in a drastic reduction in passenger traffic, which, in turn, has negatively affected aircraft demand. But as the COVID-19 situation getting to normalized the market has come to normal. With the defense expenditure on a constant rise, the defense segment of the market, however, withstood the harsh market conditions during the COVID-19 pandemic and also showcased a small growth (Y-o-Y).
The Aerospace and Defense Industry in Singapore is expected to grow rapidly because of factors such as the growing foreign direct investments (FDIs) aerospace sector and the increasing participation of private companies and startups in space technology is expected to drive the growth of the market.
Also, the growth in military expenditure of the government to strengthen the country's air, land, and sea capabilities with the acquisition of aircraft, naval vessels, unmanned vehicles etc. in the coming years is expected to accelerate the growth of the market.
Singapore Aerospace & Defense Market Trends
MRO Industry in Singapore is the Largest in South-East Asia
Singapore is a leading aircraft maintenance, repair, and overhaul (MRO) provider in the Asia-Pacific region and contributes about 10% to global MRO output. Further with growing opportunities MRO sector of the country, several major players are opening new facilities in the region to increase their presence region. For instance, In February 2022, Collins Aerospace announced that it has entered a long-term Maintenance Repair Overhaul (MRO) agreement with Singapore Airlines and Scoot, to support the Singapore Airlines Group fleet of 55 Boeing 787 aircraft. Through its FlightSense program, Collins will provide the airlines with full lifecycle support for high-performance pool access, maintenance services, and reliability upgrades. Similarly, in February 2022, Safran Electronics & Defense Services Asia announced that it will now carry out Maintenance and Repair Operations on landing gear control systems, such as tire pressure and brake temperature monitoring, for aircraft ranging from business jets to civilian aircraft, at its Singapore site. Safran Electronics & Defense Services Asia's territorial rights to perform these repairs cover Asia Pacific, Europe, the Middle East,.
Rapid economic growth and the increasing popularity of low-cost carriers are propelling the increasing passenger traffic and aircraft movements of the country. This increase in fleet and aircraft movements in the country will further boost the demand for maintenance, repair, and overhaul services to assuring aircraft safety and airworthiness.
Increasing Defense Expenditure Expected to Drive Market Growth During the Forecast Period
With increasing threats due to Chinese military aggression, Singapore has been investing in improving its defense capabilities at a steady pace over the coming years.
As part of this, the country has begun new defense procurements in various sectors of its military. These procurements are expected to be fulfilled by the manufacturers over the forecast period, driving considerable revenue influx into the market and thereby increasing market growth opportunities. For instance,
In March 2022, Singapore disclosed its new procurement plans in the pursuit of 'SAF 2040' vision. This plan includes several procurements and upgrade programs that the country has undertaken or will undertake in the coming years. As part of this, the country will also be establishing a fourth service branch for the Singapore Armed Forces (SAF) to better defend the country against threats in the digital domain.
In November 2022, Singapore announced the inauguration of its fourth military branch - Digital and Intelligence Service (DIS) that will focus exclusively on combating modern threats in the digital domain as well has leveraging emerging technologies in this domain. The DIS will more tightly integrate the Singaporean military's capabilities to deal with a range of security threats, including those from the digital domain. It includes a service headquarters, a joint intelligence directorate, a joint digital and C4 organization, and cyber staff departments.
Due to multiple other such developments, the country's defense sector is expected to drive significant growth rate for the market during the forecast period.
Singapore Aerospace & Defense Market Competitor Analysis
The market of Singapore's aerospace and defense market is highly fragmented. There are more than 120 aerospace companies in the country and there are many companies entering the market that offer aerospace design and manufacturing operations. Some of the prominent players in the market are SIA Engineering Company, Singapore Technologies Engineering Ltd, Rolls-Royce Holdings plc, Raytheon Technologies Corporation, and Airbus SE. The players in the region are integrating advanced technologies for enhancing customer experience and increasing their customer base. Also, the growing partnerships of local and international players for the transfer of technology and the development of new product lines will help the companies increase their presence in the country.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Industry
5.1.1 Manufacturing, Design & Engineering
5.1.2 Maintenance, Repair & Overhaul
5.2 Type
5.2.1 Aerospace
5.2.2 Defense
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Singapore Technologies Engineering Ltd
6.1.2 SIA Engineering Company
6.1.3 Airbus SE
6.1.4 The Boeing Company
6.1.5 Bombardier Inc.
6.1.6 Rolls-Royce Holdings plc
6.1.7 Raytheon Technologies Corporation
6.1.8 Lockheed Martin Corporation
6.1.9 General Electric
6.1.10 JAMCO AERO DESIGN & ENGINEERING PTE LTD.
6.1.11 L3Harris Technologies Inc
6.1.12 Textron Inc.
6.1.13 Curtiss-Wright Corporation
6.1.14 Moog Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security