Underscoring the momentum in the engine MRO market, new MRO contracts included a 15-year exclusive contract announced in October 2024 with Akasa Air to support its LEAP-1B engines in their first Performance Restoration Shop Visit (PRSV) and a contract with an Asian airline for CFM56-7B engine heavy shop visits. Other MRO contracts included a six-year airframe heavy maintenance contract to support a US- based airline’s Boeing 787 fleet and an exclusive five-year LEAP-1A nacelle MRO agreement with a European airline. For its A&S sub-segment, Commercial Aerospace continued to receive orders for nacelles and composite floor panels in support of aircraft OEMs’ production.
Singapore Technologies Engineering (ST Engineering) today announced that the Group secured about $4.3 billion worth of new contracts in the fourth quarter of 2024. These comprise $1.8 billion from Commercial Aerospace segment, $1.7 billion from Defence & Public Security segment and $0.7 billion from Urban Solutions & Satcom segment.
Commercial Aerospace clinched several new contracts and orders worth about $1.8 billion across its Maintenance, Repair & Overhaul (MRO) and Aerostructures & Systems (A&S) subsegments, reflecting its strong market position and continued demand for aerospace solutions underpinned by strong aviation demand.
