Defence & public security’s revenue also grew by 14% y-o-y to $1.1 billion as growth was seen in all sub-segments. According to ST Engineering, its digital business comprising cloud, artificial intelligence (AI) analytics and cyber is poised to “well exceed” its revenue target for FY2026.
Singapore Technologies Engineering (ST Engineering) has reported revenue of $2.7 billion for the 1QFY2024 ended March, 18% higher y-o-y. The growth was due to the growths in the group’s commercial aerospace and defence & public security segments and offset by a dip in its urban solutions & satcom revenue.
Commercial aerospace revenue surged by 32% y-o-y to $1.2 billion thanks to broad-based growth and strong growth in engine maintenance, repair and overhaul (MRO).
