CHANGI, SINGAPORE – In “Asian Growth Draws Vendors to Singapore Airshow,” the Wall Street Journal comments on rapidly expanding airlines in Asia and the Gulf, who are competing for predicted passenger traffic growth. This bodes well for commercial sales in Changi. Airbus Group NV and Boeing have top executives attending, and while fewer deals are expected to be inked than at the Dubai Airshow this past November, show organizers hope for $25 billion in sales at their event.
(U.S.) companies are lured by the prospect of an Asian defense market that consultant Avascent estimates is worth $350 billion over the next five years.”
Several airlines from the Asia-Pacific will be shopping for additions to their fleet, including Vietnam’s VietJetAir, India’s SpiceJet Ltd., and Thailand’s Nock Air, and Tiger Airways Holding Ltd. Royal Brunei Airlines, Garuda Indonesia and Malaysian Airline System Bhd. are also in the market for new aircraft. However, there may be more window shopping than buying, with orders coming in the future, as the Singapore show is known for networking and business development more so than multiple big deals.
Regardless, approximately 1,000 aerospace and defense firms are in attendance. Smaller manufacturers include Embraer SA, Bombardier Inc., Rolls-Royce PLC, and Pratt & Whitney, a unit of United Technologies Corp.
Meanwhile, “U.S. defense contractors will have their largest-ever presence at the show, marketing alongside European rivals and a new cadre of competitors from Asia.” Bell Boeing showcased its V-22 Osprey, Boing’s C-17 Globemaster, and its P-8A Poseidon maritime aircraft.
Read the full article here. (Subscription required.)