SINGAPORE: With flights cut and planes grounded, the impact of COVID-19 on commercial aviation has had a knock-on effect on the aerospace industry which supports it.
According to figures from the Economic Development Board, Singapore’s aerospace sector employs more than 22,000 people, with the industry’s output surpassing S$11 billion in 2018.READ: Singapore aviation industry 'extremely vulnerable' to fallout from COVID-19, say experts During its annual general meeting on Friday , ST Engineering said it expects a slowdown in its aerospace unit due to MRO services being deferred, as well as original equipment production rates being lowered.
READ: Commentary - Singapore’s aviation and tourism recovery will be very slow after COVID-19 but long-term outlook remains bright “So consolidation has been happening and will likely increase in the 12 to 18 months ahead,” said Mr Driskill. “During this time, we are also scheduling our staff for technical and soft-skill training courses to strengthen our position and readiness to seize opportunities when the aviation industry recovers and business returns.”