Aerospace sector to hire 2,500 more workers over next 3-5 years
The aerospace industry is expected to hire more than 2,500 workers here over the next three to five years to support the sector’s continued growth.
These new jobs include operator, technician, engineering and corporate roles, said the Economic Development Board (EDB) on Feb 18 in an update on the industry’s performance and outlook.
Speaking at a press conference ahead of Singapore Airshow 2024, EDB executive vice-president Cindy Koh said the agency has been working with aerospace companies since the last air show in 2022 to secure new investments.
It has since attracted more than $750 million in commitments over the next three to five years for more than 10 new projects here.
They include plans by ST Engineering to build a new $170 million 84,000 sq m aircraft maintenance facility in Changi Airport. Aircraft engine-maker Pratt & Whitney is also increasing the capacity of its Singapore engine centre by more than 60 per cent.
Ms Koh said there are more than 130 aerospace companies in Singapore, and seven out of 10 aerospace jobs are taken up by locals.
Over the past two years, hiring by aerospace companies here was ramped up, with total employment in the sector increasing by almost 3,000 to more than 21,000 from 2021 to 2023.
About 22,000 people worked in the sector here in 2019, but many were laid off after the Covid-19 pandemic battered travel demand.
In 2023, Singapore’s aerospace output grew 16 per cent year on year, with the recovery here outpacing global output by a year.
Preliminary estimates put Singapore’s aerospace output in 2023 at more than $15 billion, compared with close to $13 billion in 2019 before the Covid-19 pandemic struck, according to EDB.
Ms Koh added: “The outlook for our aerospace industry is bright, and many companies are looking to invest and grow in Singapore.”
She said EDB understands there are hiring and supply chain challenges in the near to medium term, and Singapore will support aerospace companies on these fronts.
For instance, the Institute of Technical Education will more than double the cohort size for its aircraft engine maintenance diploma from 20 places a year to 50 in 2024, to meet high interest. In 2023, the programme received four applications for every opening.
In the longer term, Ms Koh said, EDB is on the lookout for new growth areas to ensure Singapore’s competitiveness.
Environmental sustainability is one such area, and JTC Corporation will be rolling out sustainable infrastructure solutions, including provisions for electric vehicle chargers, at a new development at Seletar Aerospace Park.
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