SIA Engineering charts flight plan for future
With new jets that need less maintenance and rivals on its heels, it's investing in technology, JVs, training and global footprint.
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Nisha Ramchandani
SIA Engineering Company (SIAEC) is banking on emerging technologies and automation to re-position itself for the future amid headwinds in the aerospace sector.
A major regional hub for maintenance, repair and overhaul (MRO) work, Singapore today commands a 10 per cent market share of the global MRO industry thanks to players such as SIAEC and ST Engineering. But competition is on the rise, with other countries in the region keen on snagging a bigger slice of the pie.
Even as travel demand continues to grow - the world's fleet of airlines is expected to hit some 40,000 in the next two decades - plane-makers such as Airbus and Boeing have been building next-generation aircraft which are cheaper to maintain. Made of light-weight yet less-corrosive composite materials, aircraft such as the Airbus A350 and Boeing 787 require less maintenance work than older models and can go for longer periods without heavy checks.
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