With its global aviation support business flying high, Artemis Aerospace is opening a hub in Singapore. The company explains why they think it’s the perfect time and place to establish an eastern presence.
Acknowledged as a magnet of business dynamism and aspiration, Singapore also has the reputation of being a thriving commercial epicentre with impeccable connections globally.
Its airport, Changi, is one of the largest transportation hubs in Asia, one of the world’s busiest airports for both passenger and freight traffic, and consistently tops polls for the World’s Best Airport, including no fewer than twelve times in the Skytrax global airline and airport rating system.
It’s a model of sustainability, and as well as all the usual facilities, the airport boasts a butterfly garden and the beautiful Green Wall, which is five stories high and contains over 113,000 plants.
Over 100 airlines operate in and out of Changi, and the airport is fully equipped to accommodate the giant Airbus 380 and other mega aircraft, as well as being a major hub for freight transport.
Looking at the wider South East Asian aviation industry, a recent report estimates the market size at $36.06 billion in 2024, and is expected to reach $45.68 billion by 2029, growing at a Compound Annual Growth rate of 4.84% during 2024 – 2029.
The report flags up the rising disposable income levels of passengers in Indonesia, Thailand, the Philippines and Singapore itself and the growth of the tourism sector across the region, with countries substantially expanding their aircraft fleets. Military aviation is also expanding across South East Asia to counter Chinese aggression towards Taiwan.
Major players in the market are flocking to establish bases in the region, and after careful research and preparation, the team at Artemis Aerospace has decided that this is an area where we need to have our feet firmly on the ground.
Jim Scott, co-founder and managing director of Artemis Aerospace, said: “There’s been a huge rise in transactions in South East Asia for our multi-discipline business, including component supplies, component repairs, lessor support, flight simulation hardware support, consignment stock management and global aircraft logistics, and with the amount of work we are currently handling there we feel our customers will benefit from Artemis having a local hub.
“In our sector, speed is of the essence, and the new hub will make our service across the region even faster and more efficient.”
First published by FINN: www.wearefinn.com
May 19, 2024 – 9:45 am
