By 2030, the middle class sector of Asia is expected to rise by an additional 2.5 billion people1. These people are becoming increasingly educated, socially engaged and internationally connected. The desire to travel for a younger, wealthier and increasingly middle-class Asian population is expected to trigger a significant rise in demand for more extensive air and land transport channels, which necessitates more efficient transport and logistic networks. Intra-ASEAN trade is further projected to grow exponentially under the ASEAN Economic Community 2015 plan.
Singapore is well-placed to facilitate these developments with our robust maritime, aviation, and land transport capabilities. Through the Singapore Maritime Institute, Singapore Aviation Academy and Land Transport Authority (LTA) Academy, Singapore has trained thousands of regional personnel in these sectors.
The rise in intra-Asia trade and the region’s fragmented geographical and regulatory landscape call for leading manufacturers to deploy cutting-edge Supply Chain Management as a differentiating competency for their global businesses2. With that in mind, Singapore’s world-class seaports and air freight facilities, superior warehousing and delivery channels, as well as unparalleled regional and global connectivity make us an optimal base for such companies.
Singapore’s strategic location at the nexus of the world’s major shipping lanes has long made it an important global logistics hub and conduit for world trade. This flourishing logistics hub ranked first amongst 155 countries in The World Bank’s 2012 Logistics Performance Index. Today, we are the world’s busiest transshipment point and the second overall busiest port in the world handling about one-seventh of the world's container transshipment throughput or 32.6 million TEUs of containers in 20133. Leveraging its position as a top logistics hub, Singapore has also hosted numerous logistics exhibitions and transportation conferences, events that continue to attract business delegates from all over the world.
21 of the top 25 global logistics players, including DHL, TNT, FedEx, Kuehne + Nagel, Sankyu, Schenker, Toll Logistics, UPS and Yusen Logistics have centralised their regional supply chain operations in Singapore.
Singapore’s aerospace industry has grown at an average rate of 10 percent in the last two decades and now accounts for a quarter of Asia’s MRO output with over 100 aerospace companies, such as ST Aerospace, Goodrich, Rolls Royce and Pratt & Whitney, being based in Singapore. Supported by Seletar Aerospace Park, a dedicated world-class integrated aerospace park, these companies reap the benefits of a world-class business infrastructure, complete with runway access and the synergies from cluster integration.
Aside from MRO, Singapore is also seeing a growing number of aerospace design and manufacturing operations. Companies can leverage on Singapore’s existing capabilities in precision engineering and electronics to support the production of complex aero-engine components such as Rolls Royce and Pratt & Whitney.
The Asia Pacific public transport market is expected to be led substantially by growth in the urban rail market. The latter is expected to reach US$90 billion by 2020, growing 5-6 percent annually from an estimated US$50 billion in 20104. In the latest PwC’s Cities of Opportunity Study5 and 2012 Mercer Quality of Living Study6 report, Singapore ranked as the world’s leading city in city transportation and infrastructure.
Singapore continues to innovate in creating a people-land transport system and has become one of the least congested major cities in the world through implementation of a sophisticated Intelligent Transport System (ITS). The city has pioneered in implementing a variety of technologies to manage its congestions, including one of the world’s first Electronic Road Pricing systems (ERP) – tolls that vary according to traffic flows and work as a congestion charge, in addition to a number of transport initiatives, policies and managements including free public transportation in pre-morning peak hours, a vehicle quota system and an extensive public transport system7.
Business events in the transport sector have flourished over the years. The Singapore Airshow is one of the world’s top three international airshows, with over US$32 billion of deals signed in 2014. Asia Pacific Maritime has grown at a rate of 17 percent in exhibition space, while the newly launched Singapore International Transport Congress welcomed over 1,000 international C-suite buyers.
Further growth opportunities lie in understanding Asia’s specific needs. Burgeoning passenger numbers call for immediate infrastructure, indicating potential for business events which facilitate partnerships to address infrastructure gaps and investment models. As oil prices rise and developing economies battle with pollution, sustainable travel and logistics is also an important area of focus; as is the unique realm of user-centred comfort and design.
Journey through the Singapore Maritime Gallery and learn about the country’s thriving and progressive maritime industry that has been vital to Singapore’s continued success. Gain insights into the usually restricted port operations areas, from container handling to logistics. Find out more
The Land Transport Gallery brings visitors through Singapore’s land transport journey from pre-independence, to its formative years when Singapore started developing public and private transport and road infrastructure. The exhibition also features current challenges that Singapore faces in meeting the diverse needs of the people, and the counter measures taken. Find out more