THE WAY FORWARD
Since 1990, Singapore’s aerospace industry has grown at an average rate of over 10 per cent to become the most comprehensive MRO hub in Asia. In 2011, Singapore’s aerospace industry achieved a record output of S$7.9 billion employing some 19,000 workers. Today, Singapore is recognised as a regional leader in aerospace maintenance, repair and overhaul (MRO), aviation manufacturing and R&D.
Aerospace-related R&D in Singapore has also grown significantly over the last two years and is set to grow further. Major aerospace companies have already established R&D centres that leverage on the capabilities of the country’s local research institutes and universities.
Similarly, Singapore is home to a thriving marine & offshore industry. Geographically located at the confluence of major shipping lanes, the Singapore marine industry has long been a leading centre for ship repair. In recent years, the industry has been boosted by the strong demand from the offshore industry.
"Rolls-Royce has benefited from the valuable business opportunities, excellent talent pool and solid infrastructure that Singapore offers, and has been able to contribute to the phenomenal growth of the country through our joint ventures and R&D collaborations," noted Mr Asherson. "We look forward to many years of further development and growth with our partners here.