Singapore Airshow sees deals worth $31 billion

The Singapore Airshow 2012, Asia’s largest and one of the three most important aerospace and defence exhibitions in the world, Friday wrapped up the trade segment of the 6-day event with a record value – over $31 billion – of deals announced.

Major announcements include contracts for Boeing, Airbus, Pratt & Whitney, CFM and ATR. This represents a threefold increase over the total value of deals announced in 2010 and reaffirmed Singapore Airshow’s position as a must-attend event in the global aerospace and defence industry calendar.

Over four trade days, Singapore Airshow 2012 played host to some 900 exhibitors from 50 countries and 266 delegations from 80 countries who flew into Singapore to network, establish partnerships and forge new deals.

In all, some 38,000 trade visitors from 119 countries visited the show during the first three trade days, compared to some 35,000 in 2010.

Of these, over 30 percent were from overseas.

Some 70 percent of exhibitors at Singapore Airshow 2012 have already reaffirmed their plans to exhibit at the next airshow in 2014, underscoring the relevance of Singapore Airshow as an essential platform for them to reach out to their key markets, especially the emerging markets in Asia.

“We are pleased with our experience at the Singapore Airshow. It continues to be a great platform for us to reach out to the aviation community in the Asia Pacific region. As an industry leader, it is critical for us to have a significant presence at major airshows around the world and the Singapore Airshow ranks high on our priorities,” said Katy Padgett, manager, communications at Pratt & Whitney.

“The Singapore Airshow was an important opportunity for UK companies in the aerospace and defence sectors to promote their capabilities and identify potential joint venture opportunities. We were very pleased with the organisation and the opportunities to network with the overseas delegations,” said Adam Thomas, senior government spokesman for Britain’s defence and security sector.

Jimmy Lau, managing director of Experia Events, said: “We are delighted that deals worth over $31 billion were announced at Singapore Airshow 2012, surpassing the $10 billion worth of deals announced in 2010.”

“This reaffirms Singapore Airshow’s position as the platform of choice for aviation industry representatives from around the world, targeting the Asia-Pacific markets, to come together, forge new partnerships, conduct business and conclude deals,” he said.

“We are appreciative of the ongoing support of our exhibitors, who continue to find value in showcasing their innovations and technologies at Singapore Airshow. We look forward to delivering an even better experience for our exhibitors and visitors at the next event in 2014.”

Indian Air Force chief Air Chief Marshal N.A.K. Browne also visited the show on the opening day, Feb 14.