ST Engineering positions its aerospace sector for future growth
It is investing in automation, digitisation and data analytics to maintain its competitive edge.
Singapore
ST ENGINEERING'S aerospace sector is leveraging new technologies and growth areas to maintain its edge amid intensifying competition and a more challenging operating environment.
While the long-term outlook for the aerospace sector remains positive, fuelled by drivers such as an expanding global aircraft fleet, headwinds remain. Jet fuel prices have surged some 40 per cent year-on-year, eating into airline profits. In addition, new aircraft such as the Airbus A350 and Boeing 787, which are made of less corrosive composite materials, tend to require less maintenance work than older models and can go for longer periods without heavy checks.
Then there is intensifying competition from lower-cost markets, such as Thailand, Indonesia and Malaysia, which is seen by some analysts as a potential threat for local maintenance, repair and overhaul (MRO) players. In addition, planemakers such as Boeing and Airbus too want a bigger pi…
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