ST Engineering expects commercial aerospace’s full recovery before 2024 as Asian borders reopen

SINGAPORE Technologies Engineering ‘s (ST Engineering) commercial aerospace may have yet to reach pre-pandemic levels like its 2 other segments, but there are signs that “recovery is well under way” and hopefully will take place earlier than it expected.

This came as the mainboard-listed engineering heavyweight reported on Friday (May 13) a top line of S$2 billion for the quarter to March - on par with the corresponding period of FY2020, before the pandemic started to ravage global economies.

In its market update with media and analysts, ST Engineering said it is hopeful that recovery of the commercial aerospace to pre-pandemic levels can take place before its earlier forecast of 2024.