Key Market Indicators
Singapore's aerospace import market is projected to soar to approximately $69 billion by 2028, up from around $45 billion in 2023. This marks an average annual growth rate of 6.7%. Since 1994, the nation's demand for aerospace imports has surged by an average of 12.4% each year. In 2023, Singapore ranked second in the global standings for aerospace imports, trailing only the United States, which also recorded imports worth $45 billion. Following Singapore in the rankings were Ireland and Canada, occupying the third and fourth positions, respectively. On the export front, Singapore's aerospace sector is expected to achieve $51 billion by 2028, up from $33 billion in 2023, reflecting an average annual growth rate of 6.5%. Since 1994, the country's aerospace supply has increased by an average of 12.3% annually. In the 2023 rankings for aerospace exports, Singapore held the fourth position, with Germany surpassing it at $33 billion. France, Germany, and Singapore occupied the second, third, and fourth spots, respectively.
