TechNavio recognizes the following companies as the key players in the Commercial Aircraft Market in Singapore: Index precision Industries, ST Engineering, Singapore Aerospace manufacturing, SIA Engineering, Asian Surface Technologies Pte Ltd., and Meggitt Aerospace Asia Pacific Pte Ltd.
Commenting on the report, an analyst from TechNavio’s team said: “The Commercial Aircraft market in Singapore is witnessing strong demand for the MRO of commercial aircraft. The geographic location of the country, increase in air traffic, and aircraft movements from the airport are some of factors which propel the demand for MRO services. Currently, Singapore is the leading MRO service provider in the APAC region; nevertheless the country focuses more on providing MRO services. Many MRO companies are either planning to open new MROs or expanding their current MRO facilities. For instance, Vector Aerospace has announced it is to open an MRO facility at Singapore’s Seletar Aerospace Park that will cost US$50 million. Additionally, Jet Aviation Management AG is also planning to build a hangar adjacent to its current facilities in Seletar Aerospace Park.”
According to the report, there are several factors driving the growth of the Commercial Aircraft market in Singapore. One such factor is the increase in the demand for aircraft parts manufacturing. Rising air passenger traffic is expected to fuel the domestic aircraft parts manufacturing activities in the country.
Further, the report states that one of the key challenges is the heavy reliance on the import of commercial aircraft. There is no company in Singapore that manufactures a complete commercial aircraft, which forces domestic airline companies to rely on the import of commercial aircraft.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/commercial-aircraft-market-in-singapore-…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/automotive-and-aerospace
Follow us on Twitter @ Technavio
TechNavio Announces the Publication of its Research Report – Commercial Aircraft Market in Singapore 2014-2018
