Singapore’s second-largest aerospace parts supplier, AircraftParts, has more years of aviation parts production experience than most other suppliers.
The Singaporean company, based in a nondescript office block, has grown to become one of the largest aerospace parts suppliers with more than 400 employees and a strong presence in Singapore’s aviation industry.
“I believe that Singaporeans are looking for reliable and innovative suppliers,” said the company’s CEO, Tan Chun Yee.
“In the aerospace industry, we believe that we have an edge over others in terms of our industry experience, our quality and the reliability of our products.”
Singapore has been a major market for AircraftParts over the past few years, with more suppliers than any other country in the world.
Singapore has a long history of exporting aviation parts and is currently ranked fourth among the world’s biggest aviation suppliers.
While Singapore’s aerospace industry has grown steadily in recent years, the company has struggled with increasing competition from other Asian countries, particularly China.
“As we’ve become more competitive, the competition has increased, and so the competition and the costs have risen,” Tan said.
“So we have to become more responsive to the changing market.”
Tan said that the company is working to diversify its suppliers, with a goal of sourcing products from other suppliers in other regions of the world and in Asia.
AircraftParts said its latest annual results show the company gained $1.2 million from the sale of its aviation parts business in the first quarter of 2018.
That includes a $5.4 million increase in revenue from the sales of aviation engines and aircraft parts to China and the U.K. Tan said the overall business revenue increased by 8.9 percent year-over-year to $19.3 million.
The company’s sales from aviation parts increased 8.4 percent to $8.1 million.
Aircraft Parts has not disclosed the exact value of the sales, but said the sales growth was driven by the growth in demand for aircraft engines and the purchase of aircraft parts in Asia for its aircraft parts.
Aviation Parts said the business is now able to compete with the other aerospace suppliers in Singapore.
Tan declined to comment on the impact of the ongoing investigation into the death of former employee Lee Ho Lee, who was found dead in his Singapore office in December.
Singapore is a city of about 10 million people and has a population of about 3 million.
Tan has been Singapore’s chief executive for less than three years.
Tan also said that he is open to the possibility of working with other aerospace manufacturers in the future.
Tan, who is also the chairman of the National Aviation Safety Council, said the Singapore government has invested heavily in the aviation industry, and is committed to supporting the aerospace sector and its employees.
“The government has also invested heavily into the aviation sector, so there is a lot of money to be spent,” he said.
Tan previously said the government is not actively looking to cut employment in the aerospace business.