The Singapore Airshow continues to pull in the numbers, with this year’s edition attracting 10 per cent more trade visitors than the previous event in 2014. The number of VIP visitors also rose by five per cent.
A total of 50 deals were made during the four-day trade segment of the event that ended today, as compared to 2014’s 44, an increase of 14 per cent.
The 10 contracts that were disclosed have a total value of US$12.3 billion, down from the revealed US$32 billion in 2014. But, this doesn’t account for undisclosed purchases. Only 20 per cent of the customers this year revealed their buys, compared to about 50 per cent in the last show.
Over 1,000 exhibitors from 50 countries showcased military and commercial wares during the trade days, which will be opened to the public over the weekend.
(Figures correct as of press time.)
Some of the world’s top-of-the-line business jets were also on display. These included Gulfstream’s US$66.5 million G650ER, the Bombadier Global 6,000, priced at US$62.3 million, and the US$53.8 million Dassault Falcon 7X.
The range of executive business jets reflects opportunities aircraft builders see in Asia, despite slowing growth in China. Brazilian producer, Embraer, which delivered a US$20 million Legacy 500 mid-sized jet to Hong Kong super star Jackie Chan earlier this month, believes the region is “a steady growing market”.
“It is not booming, and has seen better years before the 2008 financial crisis, but since then the market has been steadily recovering and growing,”Claudio Camelier, Embraer vice-president of sales for the Middles East and Asia Pacific told The Peak.
“If you exclude China, our forecast for the Asia Pacific region in the next 10 years is 490 airplanes. On average it is close to 50 business jets a year.”
The Singapore Airshow also produced opportunities in the commercial, defence, MRO (maintenance, repair and overhaul), research and development, and manufacturing industries. In the course of the week, heavyweights like GE Aviation said it is injecting investments in new MRO facilities in Singapore, including an advanced technology centre for R&D on repair applications.
Pratt & Whitney also opened its first Singapore manufacturing plant on Monday, the only facility outside of the US to make components for the company’s latest PurePower engine.
With the air show’s ability to pull in key decision makers around the world, nearly three-quarters of the exhibitors have made reservations for the next edition in 2018.
“We are heartened by the continued support and show of confidence from exhibitors and visitors for the Singapore Airshow as the global platform to tap into emerging opportunities, engage in emerging dialogues, and showcase emerging technologies in the fast-growing Asia Pacific market,”said Experia Events managing director Leck Chet Lam.
“We are committed to creating carefully curated programme elements and are looking forward to delivering a 2018 edition that will further contribute to growing industry capabilities.”