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(Transportation-News.com, October 04, 2017 ) Singapore aviation industry is showing remarkable growth past few years. This growth is primarily driven by rising demand of airlines from emerging economies such as Latin America and Middle East. According to the new research report titled, “Assessment of Singapore Aviation Industry 2017,” which has been added in the repository of Market Research Hub, aviation is the key sector which is contributing in the development of Singapore’s economy. For instance, with more than 50 thousand employees, Singapore aviation sector accounts for 6% of country’s Gross Domestic Product. In Assessment of Singapore Aviation Industry report, some of the factors which are responsible for the growth of this sector have been mentioned, and they are commendable air safety record and world class facility and high efficiency at Changi airport.
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Assessment of Singapore Aviation Industry: Present Scenario
According to this research report, presently the greater demand for airlines is coming from Africa, Middle East, Latin America and the CIS. It has been observed that around 40% demand for airlines will come from Europe and North America, while from Asia region this demand would go more than 35%. Thus, it has been forecasted that in next two decades as many as 39,600 planes would be needed worldwide. This need is likely to be fulfilled by Changi airport in Singapore which is one of the best airports across the globe. It was the sixth busiest airport in world which already bagged around 500 awards for the best airport in the world.
What Makes Changi Airport the World’s Best Airport?
According to this research report, Changi airport presently caters the need of 100 airlines and it is estimated that this figure would be doubled by 2020. After few years this airport is likely to serve more than 130 million passengers every year. It has been noted that couple of years back, the passenger movements was suddenly increased at Changi Airport and it was grew by 2.5%. This movement was increased due to tremendous travel demand from South East and North East Asia which was accounted for close to 66% of the air traffic at airport of Changi. In the last years, i.e. in 2016, Changi airport witnessed the highest number of passenger movement which was reached up to 58.7 million.
Assessment of Singapore Aviation Industry: Key Players
Some of the key players operating in the Singapore aviation industry are Emirates, Air Asia Berhadalong, Singapore Airlines, Qantas Airways Limited, Tiger Airways Singapore Pte Ltd, and Jetstar Airways Pty Ltd.
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Why Should You Invest in This Report?
In depth secondary research has been conducted while examining this market to arrive at key insights. Data which is collected from various publications and several sources in important public industries has been analysed and scanned thoroughly and impartially to offer crystal clear picture of an entire industry. All recent developments are used to make this report more accurate and various dynamics of sectors have been listed to see an impact of the market.
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