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Lee sees China, India powering aerospace industry

SINGAPORE: China and India were on Tuesday projected as the emerging powerhouses of the global aerospace industry, at the inaugural ceremony of the first-ever Singapore Airshow.

The ongoing modernisation of the militaries of several Asian countries was also cited, alongside the “encouraging” trends in the civil aviation sector in East Asia, as the catalyst for growth in the global aerospace industry.

Singapore Prime Minister Lee Hsien Loong said:

“In Asia, the signs are particularly encouraging. The region is expected to lead the [global] growth in air travel, as the [civil aviation] industry’s centre of gravity shifts to the East [from the West]. With China and India integrating more closely into the global grid, demand for air travel in the region will soar.”

About other positive factors in East Asia, Mr. Lee said: “Within Southeast Asia, air travel is also expected to take off. The ASEAN countries are establishing ASEAN-wide open skies, starting with the first milestone of free access between ASEAN capitals by the end of this year.”

According to Mr. Lee, “there are also opportunities in Asia’s defence market, as regional governments look to modernise their defence forces.” China and India are widely regarded here as defence-force modernisers as well.

He envisioned bright prospects for Singapore, especially in regard to civil aviation. Mr. Lee said: “Singapore is well-positioned to ride these growth trends. We are a gateway to Asia, equipped with excellent infrastructure and connectivity, a skilled workforce, a strong technology base, and a critical mass of aerospace activities.” Referring to the recent inauguration of a state-of-the-art third terminal at the Changi airport here, he said the city-state’s role as “a key international air hub” would now be further strengthened.

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