The aerospace industry in Singapore is expected to hire over 2,500 workers in the next three to five years to support its ongoing growth.
Aerospace Industry in Singapore Is Expected to Hire Over 2,500 Workers
According to The Straits Times, Economic Development Board (EDB) executive vice-president Cindy Koh disclosed this information at a press conference ahead of the Singapore Airshow 2024. Koh said the positions will range from operators and technicians to engineers and corporate roles.
The EDB has been collaborating with aerospace companies since the last air show in 2022 to land new investments. These efforts have resulted in commitments exceeding $750 million for more than 10 new projects over the next three to five years.
Notable investments include ST Engineering's construction of a $170 million aircraft maintenance facility at Changi Airport and Pratt & Whitney's expansion of its Singapore engine center.
Bright Outlook on the Aerospace Sector in Singapore
The aerospace sector in Singapore has experienced significant growth in the past two years, with total employment increasing by nearly 3,000 to over 21,000 from 2021 to 2023.
Despite challenges posed by the COVID-19 pandemic, The Straits Times reported that the industry has demonstrated resilience, outpacing global output by a year in terms of recovery.
EDB's preliminary estimates indicate that Singapore's aerospace output surged by 16% in 2023 compared to the previous year, reaching over $15 billion. This growth trajectory underscores the bright outlook for the industry, with many companies expressing interest in expanding their presence in Singapore.
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