| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 8.78 Billion |
| Market Size (2030) | USD 15.82 Billion |
| CAGR (2025 - 2030) | 12.51 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Singapore Aerospace And Defense Market Analysis
The Singapore Aerospace And Defense Market size is estimated at USD 8.78 billion in 2025, and is expected to reach USD 15.82 billion by 2030, at a CAGR of 12.51% during the forecast period (2025-2030).
In 2023, the aviation sector bolstered Singapore's economy, accounting for 3% of the nation's GDP. Singapore Airlines, the country's flagship carrier, managed a fleet of 150 aircraft as of September 2023, with an additional 90+ on order. The carrier's fleet boasted an average age of approximately 7.1 years, steadily decreasing over the past five years with the infusion of newer aircraft.
Furthermore, Singapore's increased military expenditure, aimed at fortifying its air, land, and sea capabilities through acquisitions like aircraft, naval vessels, and crewless vehicles, is poised to catalyze market growth. SIPRI reported the country's 2023 military expenditure at USD 13.2 billion. With rising foreign direct investments (FDIs), an uptick in the private sector, and startup involvement in space technology, Singapore's aerospace and defense sector is primed for rapid expansion. However, disruptions in the supply chain pose challenges, potentially leading to minor cost escalations and delays in some defense programs in the near term.
Singapore Aerospace And Defense Market Trends
The MRO Segment is Expected to Dominate the Market During the Forecast Period
Singapore, a key hub for aircraft maintenance, repair, and overhaul (MRO) in Asia-Pacific, commands a significant share of the global MRO output. Major players are establishing new regional facilities to bolster their presence with expanding opportunities. For instance, in February 2022, Collins Aerospace inked a long-term MRO agreement with Singapore Airlines and Scoot, focusing on the former's 55 Boeing 787 aircraft fleet. Under its FlightSense program, Collins Aerospace will deliver comprehensive support, including high-performance pool access, maintenance services, and reliability upgrades. Similarly, the same month, Safran Electronics & Defense Services Asia announced its Singapore site's capability to conduct maintenance and repair operations on landing gear control systems, from business jets to civilian aircraft. Notably, Safran Electronics & Defense Services Asia holds territorial rights for these repairs across Asia-Pacific, Europe, and the Middle East and Africa.
Driven by rapid economic growth and the rising preference for low-cost carriers, Singapore is witnessing a surge in passenger traffic and aircraft movements. This uptick in fleet and aircraft activity will escalate the demand for MRO services, which are crucial for ensuring aircraft safety and airworthiness.
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The Defense Sector is Expected to Witness Significant Growth During the Forecast Period
Amid escalating concerns over Chinese military activities, Singapore is ramping up its defense capabilities. The nation initiated fresh defense procurements across various military segments, which are set to be executed by manufacturers in the coming years. These endeavors are poised to bolster the country's defense and inject substantial revenue into the market, paving the way for enhanced growth prospects. In March 2022, Singapore unveiled its procurement roadmap, aligning with its SAF 2040 vision. This blueprint encompasses a series of procurements and upgrades, some already in progress and others slated for the near future. Singapore is charting new territory by introducing a fourth service branch within its Armed Forces, specifically tailored to counter digital threats.
Further underlining its commitment to digital defense, Singapore formally launched its fourth military branch, the Digital and Intelligence Service (DIS), in November 2022. The DIS is dedicated to combatting contemporary digital threats and harnessing cutting-edge technologies. By consolidating the nation's military capabilities, the DIS aims to fortify Singapore's stance against a spectrum of security challenges, especially those emanating from the digital realm. Comprising a service headquarters, a joint intelligence directorate, a joint digital and C4 organization, and cyber-staff departments, the DIS's establishment was a pivotal move to propel Singapore's defense sector toward a notable growth trajectory in the coming years.
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Singapore Aerospace And Defense Industry Overview
The aerospace and defense market in Singapore is highly fragmented. Singapore has over 120 aerospace companies, with a steady influx of newcomers focusing on aerospace design and manufacturing. Notable market leaders include SIA Engineering Company Limited, Singapore Technologies Engineering Ltd., Rolls-Royce PLC, RTX Corporation, and Airbus SE. These key players leverage cutting-edge technologies to elevate customer satisfaction and expand their clientele. Moreover, the escalating collaborations between domestic and global entities, aimed at technology transfer and product line diversification, are poised to bolster these companies' foothold in the nation.
Singapore Aerospace And Defense Market Leaders
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Airbus SE
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Singapore Technologies Engineering Ltd
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Rolls-Royce plc
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SIA Engineering Company Limited
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RTX Corporation
- *Disclaimer: Major Players sorted in no particular order
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Singapore Aerospace And Defense Market News
February 2024: ST Engineering signed agreements with Airbus to support the C295 and Embraer to support the C-390. Airbus will support the regional C295 fleets with depot-level maintenance and turnkey solutions at its existing facility in Singapore.
February 2023: The Republic of Singapore Air Force revealed plans to procure eight F-35B fighter jets from Lockheed Martin Corporation, with deliveries slated for completion by 2030.
Singapore Aerospace And Defense Industry Segmentation
The report on Singapore's aerospace and defense market covers the latest trends, technological developments, innovations, investments, import and export scenarios, and other important factors impacting the market. It also covers international collaborations, partnerships, weapon and defense equipment development, space programs, and other important factors.
The aerospace and defense market in Singapore is segmented by industry and type. By industry, the market is segmented by design and engineering, manufacturing, and maintenance, repair, and overhaul. By type, the market is segmented into aerospace and defense. For each segment, the market size is provided in terms of value (USD).
| Industry | Manufacturing, Design, and Engineering |
| Maintenance, Repair, and Overhaul | |
| Type | Aerospace |
| Defense |
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Singapore Aerospace & Defence Market Research FAQs
How big is the Singapore Aerospace And Defense Market?
The Singapore Aerospace And Defense Market size is expected to reach USD 8.78 billion in 2025 and grow at a CAGR of 12.51% to reach USD 15.82 billion by 2030.
What is the current Singapore Aerospace And Defense Market size?
In 2025, the Singapore Aerospace And Defense Market size is expected to reach USD 8.78 billion.
Who are the key players in Singapore Aerospace And Defense Market?
Airbus SE, Singapore Technologies Engineering Ltd, Rolls-Royce plc, SIA Engineering Company Limited and RTX Corporation are the major companies operating in the Singapore Aerospace And Defense Market.
What years does this Singapore Aerospace And Defense Market cover, and what was the market size in 2024?
In 2024, the Singapore Aerospace And Defense Market size was estimated at USD 7.68 billion. The report covers the Singapore Aerospace And Defense Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Singapore Aerospace And Defense Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Singapore Aerospace and Defence Industry Report
Statistics for the 2025 Singapore Aerospace And Defense market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Singapore Aerospace And Defense analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
