Singapore’s aviation industry is undergoing significant transformation. The number of air travellers and aviation-related jobs in Singapore is expected to double by 2035. This translates into 117 million passengers and 700,000 jobs for the industry.
The Air Transport Industry Transformation Map (ITM), a national blueprint to upgrade the capabilities of aviation companies, aims to increase the sector’s productivity by 40%, and to redesign or create more than 8,000 jobs by 2025.
Singapore has been upgrading and expanding our airport and air navigation services infrastructure to ensure sufficient capacity ahead of demand. When in operation, Changi Airport’s third runway and the mega Terminal 5 will increase our passenger capacity by another 50 million.
Countries around the world are building and upgrading their airports too. Between 2010 and 2017, China added 54 civil airports1. Closer to home, Indonesia plans to add ten more airports2, with the nearest one to Singapore sited in Bintan3. Airlines are also growing aggressively to compete for the expected growth in air traffic volume, especially in Asia Pacific.
As a Singapore company in the air transport industry, you can develop and offer innovative solutions across the value chain, from passenger services, to cargo handling, airside functions, airline operations and air traffic control. There is ample local and regional demand for your business to fly high.
1: Statista, The Civil Aviation Administration of China. 2: “Government to build 10 new airports”, The Jakarta Post, 12 July 2018 3: “Bintan airport expected to operate by 2020”, The Jakarta Post, 5 September 2017
The aviation industry is booming in ASEAN and around the world. According to the International Air Transport Association (IATA), air travel worldwide is set to double to 7.8 billion passengers annually in the next two decades.4 The ASEAN air travel market will be one of the fastest growing in the world.
China alone will create a huge demand on the aviation industry. It is the world's largest outbound tourism market with more than 130 million trips in 2017 by less than 10% of its population. It is estimated that by 2020, there will be 240 million Chinese passport holders and as many trips or more.5
Your company can scale up to meet the increasing demand for aircraft, airports, and air & cargo logistics providers, in tandem with the surge in air travel volume.
4: “2036 Forecast Reveals Air Passengers Will Nearly Double to 7.8 Billion”, IATA, 24 October 2017 5: “China is Making It Easier to Apply for Passports to Boost International Travel”, Jing Travel, 30 April 2018
Smart airports that leverage data and disruptive technology are becoming the norm. Airports are using automation and artificial intelligence to reduce cost and manpower, and improve customer service. These have resulted in more reliable and efficient processes such as the tracking of luggages in real time, using biometric information for checking in, smart control towers and automated aerobridges.
Your company can pursue innovative solutions to make airports, aircrafts and air travel smarter and safer, using technology. There are many opportunities for you to collaborate with bigger industry players such as SATS and the Changi Airport Group to co-develop and export “designed-in-Singapore” aviation products.6
6: “CAAS unveils roadmap to transform aviation sector”, Channel NewsAsia, 20 April 2017
Singapore’s aviation and logistics industries form a seamless value chain, backed by world-class infrastructure and a base of leading industry players and customers. Air cargo solution providers can team up easily with logistics partners to provide better services for consumers.
Singapore also excels in aircraft maintenance, repair and overhaul (MRO) services, as well as aircraft manufacturing. We garnered a quarter of the Asian MRO market, backed by a pool of over 100 aerospace companies.
The 320-ha Seletar Aerospace Park hosts manufacturing and research & development activities. Singapore’s strengths in MRO, precision engineering and electronics have enabled multinational corporations to manufacture complex aerospace equipment like avionics computers and engine fan blades.
Take advantage of Singapore’s aviation and logistics value chain, and aircraft engineering capabilities to expand your business.
Enterprise Singapore supports Singapore air transport companies to explore opportunities locally and abroad with a suite of tools and programmes.
Find out how you can boost your capability, go global and develop talent to transform your air transport business.