Singapore Projects Asian Aerospace Maintenance Revenue to Triple by 2030
In contrast to other aerospace markets, Asia's aircraft fleet size is projected to grow by over 51% to 25,000 by 2030 from its current level of 16,500 reported Singapore Government officicials today. At the same time, maintenance, repair and overhaul (MRO) revenues from the region is expected to triple its current US$22 billion figure over the same time period.
Malaysia Wins Major Aerospace Subcontract Work
Spirit AeroSystems (Europe) has signed two deals with Malaysian aerospace companies that will see Malaysia accounting for nearly 40% of the subcontract value on the Airbus A350.