Air traffic growth in the Asia-Pacific region is one of the fastest in the world. Many countries in the region have ambitious plans to expand their airports or build new ones to keep pace with the growth.
Singapore is strategically located at the heart of the region, and is well-placed to benefit from the growth potential of aviation-related activities, such as air cargo handling, maintenance, repair and overhaul (MRO) services, and aircraft manufacturing. The trusted Singapore brand gives you added advantage when you bring your air transport business overseas.
Responding to rising demand for air travel, China is investing heavily in the construction of civil aviation infrastructure. It is stepping up construction of important new airports, including those in Beijing, Chengdu, Dalian, Qingdao and Xiamen7.
Beijing is building its second international airport, its largest construction project in Chinese civil aviation history.1 Set to open in late 2019, with eight runways serving 100 million passengers annually, Beijing's Daxing International is expected to become the world's largest airport.8
For Singapore companies, China’s pipeline of new airports means many opportunities across the airport value chain for you.
China’s second and third-tier cities are poised to be the future drivers of economic growth and demand for international goods and services. Per capita incomes are rising rapidly in many Chinese cities, and many professionals in China no longer see the need to travel to first-tier cities to seek gainful employment.9
The rise of second-tier cities such as Wuhan and Hangzhou sees a spillover effect into all sectors, including aviation. You just might score that first mover advantage for your air transport business in these cities. Consider partnerships or joint ventures with local companies to navigate the ever-changing business landscape in China.
1 Statista, The Civil Aviation Administration of China.
7 “China aims large with new aviation infrastructure”, Channel NewsAsia, 11 January 2016
8 “Beijing's New Daxing International Airport Set To Be World's Largest, But Business Aviation An Afterthought”, Forbes, 10 January 2018
9 “Why Succeeding in China’s Lower-tier Cities Is Crucial for Tourism Businesses”, Jing Travel, 1 November 2017
Several Southeast Asian countries are either seeking public-private partnerships for airport development, or building greenfield airports, which are constructed on undeveloped land. These include Myanmar and the Philippines
The Myanmar government has detailed huge public investment plans for new transport infrastructure in its National Transport Master Plan. The plan details MMK26.7 trillion (S$29.2 billion) of new investments in aviation infrastructure, rail, road, and ports projects between 2014 and 2030. Planned projects include a new aviation centre outside Yangon.
The increasing interest in business and tourist travel to Myanmar offers opportunities for new air travel routes to the country. Local companies have been awarded concessions to own and operate transport and connectivity infrastructure. You can bring in the needed expertise to work with local partners and offer solutions in areas such as air cargo and baggage handling, air traffic management, and ground logistics.
Find out more about the emerging market of Myanmar.
As the Philippine economy develops, infrastructure gaps remain a major bottleneck for the country’s growth. For the air transport industry, congested airports are hampering the growth of tourism.
The country has launched an aggressive campaign to accelerate infrastructure development in the country. In May 2018, the government approved 20 infrastructure projects, including a proposed international airport in Bulacan, near the Philippine capital of Manila. The New Manila International Airport, to be built by San Miguel Corp., is expected to handle 20 million foreign tourists a year, compared to a record 6.6 million visitors in 2017.10
Check out the potential of the Philippines market.
10 “San Miguel to build $14 billion Manila airport project alone”, Reuters, 4 May 2018