Singapore Technologies Aerospace Ltd. (ST Aerospace) secured around US$800 million in new contracts over the first quarter of 2017 for a variety of maintenance, repair and operations (MRO) services. The influx of MRO business indicates growth in the global aviation market, which Boeing predicts will grow by 4.8 percent and 4.2 percent for pax and cargo, respectively, over the next 20 years.
The Q1 2017 contracts include performance-based logistics operation and support for military aircraft, several components repair and overhaul agreements, and contracts for ST’s EcoPower engine wash services. These contracts also include several multi-year renewal agreements.
ST Aerospace opened a second hangar at its MRO station in Guangzhou, China, during the quarter. The facility can accommodate two widebody and two narrowbody aircraft simultaneously.
In Germany, ST Aerospace subsidiary Elbe Flugzeugwerke broke ground on a new facility in Kodersdorf, Saxony, growing its aircraft component manufacturing footprint. The facility will help meet rising demand from A320 and A321 services and parts.
ST Aerospace also developed its aircraft seats business, earning AS9100 Quality Management System certification for its in-house designed aircraft seats.
Those interested in learning more about airfreight in 2017, should join us at Cargo Facts Asia in Shanghai, 25 – 26 April. To register, or for more information, go to CargoFactsAsia.com