|Asia's biggest for aviation's finest receives show of confidence from exhibitors and stakeholders|
SINGAPORE, Feb 19, 2016 - (ACN Newswire) - The trade segment of Singapore Airshow 2016 concluded today on a positive note with exhibitors and trade visitors giving the thumbs up to the wide range of emerging opportunities, dialogues and technologies that were the main themes of this year's event.
Among them are the nearly 60 companies comprising the French pavilion, the largest French presence ever at an airshow outside of France, which include prime contractors, equipment manufacturers, small to medium enterprises, and maintenance specialists; as well as the more than 140 exhibitors who represented the United States of America.
"This edition of the Singapore Airshow has been an excellent success for all the members of GIFAS, and more particularly for our SMEs. The status of Feature Country has clearly given a deeper dimension to the relationship between our two industries which we are looking forward to grow further," said Mr Vincent Gorry, Director, European and International Affairs, GIFAS.
The Philippines also made event history by participating as a country pavilion for the first time at the Singapore Airshow, and commemorated its debut by announcing deals with Airbus, Harris Corporation and Rolls-Royce.
"We first visited the show with our official delegates two years ago and saw that there would be potential. This year, we felt that we are ready to introduce ourselves and offer our interest in partnerships with many of the aerospace companies, said Glenn Penaranda, Commercial Counsellor, Philippine Trade & Investment Centre, Embassy of the Philippines. "We are heartened to hear that people are looking forward to what the Philippines has to offer and have had very positive meetings with major players and even potential partners in this industry."
Changing Nature of Business Deals
A total of 50 deals were made at Singapore Airshow 2016, representing an increase of 14% over 2014. These included 10 deals with a total value of US$12.3 billion, as well as 40 deals with undisclosed values announced by 20 companies. In line with changing business trends, and as the industry becomes more sophisticated and competitive, a growing proportion of the announcements and deals included undisclosed values. More deals were announced by LCCs and aircraft leasing companies compared to 2014. In addition, eight MOU signings were made compared to four in 2014 as industry stakeholders look to build future capabilities.
Singapore Airshow 2016 saw close to 10% increase in trade visitors, as well as a nearly 5% increase in the number of VIP delegations. There was also an increase in the number of local companies exhibiting in the Singapore Pavilion, with 36 companies taking part this year, compared to 29 companies in 2014.
The wide array of opportunities at the Airshow spanned the commercial, defence, MRO, R&D and even manufacturing sectors. These opportunities not only emerged within industry sectors, but also from Asian countries and markets that displayed significant potential and were key focal areas for exhibitors and visitors. Industry heavyweights like GE Aviation announced new investments in new MRO facilities in Singapore, which includes establishing a new advanced technologies centre for R&D on repair applications, while Pratt & Whitney opened its first Singapore manufacturing facility on Monday, the only facility outside of the US to manufacture components for the company's latest engine, the PurePower(R) engine.
Among the growing spectrum of MRO opportunities are the agreement signed by Airbus and SIA Engineering Company (SIAEC) to form a joint venture based in Singapore. The joint venture company will provide airframe maintenance, cabin upgrade and modification services for Airbus A380, A350 and A330 aircraft to airlines in the Asia Pacific and beyond, and marks SIAEC's first collaboration with a major aircraft manufacturer for airframe maintenance.
Singapore Airlines also appointed key suppliers for its fleet of Airbus A350 aircraft including Thales to provide the in-flight entertainment system and Ka-band connectivity, and 12-year deals with Moog for maintenance and inventory support of the OEM's flight control products, and with UTC Aerospace Systems to supply asset management and repair services for the A350s.
Creating Opportunities for Future Generations
The inaugural Singapore Airshow Aero Campus (SAAC) was held on 18 and 19 February, which saw close to 3,000 secondary school and tertiary students, full time national servicemen and young working professionals visiting the show. A new initiative designed to foster deeper interest and provide insights about the industry, from exploring higher education to embarking on rewarding careers in the aviation field, the SAAC showcased the wide range of education and career development opportunities that are available in the aviation and aerospace sector in Singapore. Attendees had the opportunity to tour the exhibition and static aircraft display, watch the aerial display performances, and also participated in workshops where they gained valuable industry insights by speaking to exhibiting companies and educational institutions.
The Singapore Airshow offers a unique platform for thought leadership through its high-level conferences, forums, and co-located events, helping to shape the future agenda of the industry. The Singapore Airshow Aviation Leadership Summit (SAALS) 2016 brought together some 300 key stakeholders in aviation, including top government representatives, civil aviation authorities and senior executives of airlines, airline operators, aircraft manufacturers as well as the heads of the International Civil Aviation Organization (ICAO) and the International Air Transport Association (IATA) to exchange valuable insights, network and strengthen the nexus between governments and the aviation industry.
In addition, the Federal Aviation Administration (FAA) and the Civil Aviation Authority of Singapore (CAAS) concluded a milestone Maintenance Implementation Procedures (MIP) agreement on the sidelines of the Singapore Airshow. This agreement allows for reciprocal acceptance of safety oversight requirements, as well as the mutual recognition of procedures for the approval and monitoring of aircraft maintenance organisations.
The new Aerospace Emerging Technologies Zone and Emerging Technologies Business Forum were introduced at Singapore Airshow 2016, focusing on some of the key trends in aviation such as augmented reality and unmanned airborne vehicles (UAVs). The Civil Aviation Authority of Singapore (CAAS) also made significant announcements that focused on emerging technologies in the aviation space. CAAS signed an agreement with the Institute for Infocomm Research (I2R) to establish a joint laboratory to advance air traffic management (ATM) research and development (R&D), as well as a Memorandum of Understanding (MOU with Airbus Helicopters to conduct Unmanned Aircraft Systems (UAS) Proof-of-Concept Trials, named the Skyways Project, in Singapore. An agreement was also signed by CAAS with air traffic surveillance system supplier Aireon LLC to obtain and use space-based Automatic Dependent Surveillance-Broadcast (ADS-B) data for the Singapore flight information region (FIR).
Looking to the Future
About 70% of exhibitors have already made reservations to participate at the next Singapore Airshow, with GMF from Indonesia, UAC from Russia and SAAB from Sweden among the exhibitors looking to increase their presence at Singapore Airshow 2018.
"We are heartened by the continued support and show of confidence from exhibitors and visitors for the Singapore Airshow as the global platform to tap into emerging opportunities, engage in emerging dialogues, and showcase emerging technologies in the fast growing Asia Pacific market," said Mr Leck Chet Lam, Managing Director of Experia Events. "We are committed to creating carefully curated programme elements and are looking forward to delivering a 2018 edition that will further contribute to growing industry capabilities."
Singapore Airshow 2018 will be held from 6 to 11 February at Changi Exhibition Centre.
Experia Events Pte Ltd
Tel: +65 6595 6130
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Topic: Press release summary
Source: Singapore Airshow
Sectors: Airlines, Travel & Tourism
From the Asia Corporate News Network
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