Singapore Airshow 2024 Flies High with Record Economic Impact of Over $391 Million

25 September 2024

SINGAPORE, 25 September 2024 - Singapore Airshow 2024 generated more than S$391 million in spending, marking the highest economic contribution in the show's history. This marks a substantial increase from the previous edition, underscoring the show's growing importance as a global platform for the aerospace and defence industry. As the first full-scale show in six years - following COVID-19 disruptions to the 2020 and 2022 editions, the show welcomed a strong attendance of over 110,000 international and local attendees.

Experia Events, the show's organiser, commissioned Kadence International, an independent market research firm, to conduct an economic impact study. The study revealed that spending was distributed across various sectors, including international flights, accommodation, exhibition space, food and beverage, entertainment and shopping. Foreign spending alone accounted for a substantial portion of the total economic contribution, demonstrating the show's success in attracting international participants, connecting the global aerospace and defence leaders with Asia's thriving aerospace market and driving economic spend in Singapore. This year's edition saw a total economic impact of S$391 million, representing a significant 196% increase from the previous figure of S$132 million in 2022.

Mr. Leck Chet Lam, Managing Director of Experia, said: "As the premier gateway to Asia's thriving aerospace industry, we are proud that Singapore Airshow 2024 has achieved a record-breaking contribution to Singapore's economy. The Airshow's role has continually evolved to address new trends, including sustainability in aviation and fostering innovations that contribute to a greener future. This year's success reinforces Experia's commitment to delivering a platform that not only strengthens Singapore's aerospace positioning but also aligns with the global push for sustainable development in the aviation industry."

Mr. Poh Chi Chuan, Executive Director, Exhibitions & Conferences at the Singapore Tourism Board (STB), said: "The Singapore Airshow continues to be a vital part of Singapore's Meetings, Incentives, Conventions and Exhibitions (MICE) landscape, through driving direct economic gains and championing sustainability for the aviation industry. The Airshow not only cements Singapore's reputation as a leading destination for business events but also reinforces Singapore's strength in hosting high-quality events that deliver positive and lasting impact, affirming our position as 'World's Best MICE City'. The strong performance highlights the growing appeal of the show and its integral role in supporting industries such as F&B, hospitality and retail."

Ms. Cindy Koh, Executive Vice President for Advanced Manufacturing at the Singapore Economic Development Board (EDB), added: "The success of Singapore Airshow 2024 underlined the strong confidence in the growth prospects for the aerospace industry. As a global node for aerospace manufacturing as well as Maintenance, Repair and Overhaul (MRO), Singapore continues to partner with leading aerospace companies on their investments here across manufacturing, MRO, innovation and sustainability to support the industry's growth and create good job opportunities for Singaporeans."

Singapore Airshow 2024 highlighted the critical importance of sustainability in the aerospace sector. With a dedicated focus on cleaner technologies and sustainable practices, the show cultivated discussions on how the aviation industry can reduce its carbon footprint while driving growth.

Mr. Leck added: "Looking ahead to the 10th edition of the Singapore Airshow in 2026, our goal is to further integrate sustainable practices into every aspect of the show, ensuring that we remain at the forefront of industry developments while contributing meaningfully to Singapore's economy and the global aerospace ecosystem. Where aviation's finest meet, Singapore Airshow is poised to bring forth the very best of the industry and shape its future."

The next Singapore Airshow will take place from 3 to 8 February 2026 at Changi Exhibition Centre.