Mr Chan Soo Sen at the official launch of Nanyang Technological University’s (NTU) Bachelor of Aerospace Engineering Degree Program

SPEECH BY MR CHAN SOO SEN, MINISTER OF STATE, MINISTRY OF EDUCATION & MINISTRY OF TRADE AND INDUSTRY, AT THE OFFICIAL LAUNCH OF NANYANG TECHNOLOGICAL UNIVERSITY’S (NTU) BACHELOR OF AEROSPACE ENGINEERING DEGREE PROGRAM ON FRIDAY, 10 FEBRUARY 2006, 3.00 PM AT NANYANG EXECUTIVE CENTRE, NANYANG TECHNOLOGICAL UNIVERSITY, 50 NANYANG AVENUE

Distinguished guests,

Ladies and gentlemen,

A very good afternoon to one and all.

First and foremost, let me wish everyone here today a very happy and prosperous new year.

It is my pleasure to be here at the official launch of NTU’s new bachelor degree programme in aerospace engineering. This is of special significance because it is the first aerospace engineering degree programme in Singapore. And there are many reasons why the introduction of this programme is timely.

Boom in the Aerospace Industry

After a few major setbacks in the past few years, like the September 11 terrorist attacks, the war on Iraq and SARS, the global economy has picked up again.

The aviation industry has rebounded strongly, with confidence in flying restored. In fact, 2005 was a bullish year for the aerospace industry. During the year, we secured many aerospace projects, some of which were milestone achievements for Singapore. In Maintenance Repair and Overhaul (MRO), Singapore Technologies Aerospace (ST Aerospace) opened its new hangar at Seletar Airport, and SIA Engineering Company (SIAEC) completed the construction of 2 new hangars at Changi. In manufacturing, both Hamilton Sundstrand and Barnes Aerospace opened new facilities to manufacture aircraft components. In R&D, Pratt & Whitney's Global Services Engineering-Asia was established to undertake repair process development of aircraft engine parts, and Boeing entered an agreement with the Agency for Science Technology & Research (A*STAR) to undertake aerospace research in Singapore.

That top aerospace companies are making significant investments here demonstrates great optimism for the industry’s immediate and long-term prospects. Confidence in Asia’s potential is particularly strong as is apparent from a recent study conducted by Aero strategy, a leading management consulting firm for the aviation and aerospace industries. It projected that the world’s aircraft fleet will grow by 4 per cent annually over the next 10 years, while that for Asia Pacific will outstrip global growth, at 6.7 per cent.

Singapore’s aerospace industry is well-positioned to ride this growth wave. Nonetheless, to stay ahead of competition and maintain a leading edge, it is not sufficient for Singapore to just grow in tandem with the rest of the region. We need to put in place measures to maintain our industry leadership position over the long term. In particular, we will emphasize education and training for our workforce as a solid foundation upon which to extend into new opportunities in aerospace.

Trend of Aerospace Companies Moving into Design and Engineering

Singapore’s position as a leading aviation hub did not come by chance. We have been attracting the world’s top aerospace companies to come to Singapore for many years now. Today, we are the most comprehensive center for aerospace MRO in Asia, accounting for one quarter of Asia’s market. I am proud to note that Singapore’s aerospace industry comprises a vibrant mix of international and local companies. This includes leading aerospace players such as GE, Rolls-Royce, Pratt & Whitney, SIA Engineering Company, ST Aerospace and Singapore Aerospace Manufacturing, all of which have significant operations in Singapore.

In recent years, we are seeing an increasing trend of companies moving into design and engineering activities to take advantage of the competencies built up through their manufacturing and MRO operations here over the years. For instance, new methods of repair are being developed in Singapore for aerospace components which would previously have been discarded, resulting in high replacement costs for the customer. Such capabilities will ensure that Singapore MRO operations continue to create even more value for their customers. I see NTU’s new aerospace degree programme as crucial for helping to develop well-trained aerospace engineers to lead the industry in areas requiring knowledge-based expertise.

Strong Industry Support for NTU’s Degree Programme

I am very happy to learn that this new degree programme has received tremendous support from our many long-time partners in the aerospace industry. Many aerospace companies have stepped forward with donations of teaching equipment. For example, Turbine Overhaul Services (TOS) has donated a model turbine engine, while the RSAF has generously loaned an A-4 Skyhawk fighter bomber that will soon occupy a place of pride in NTU.

Besides the teaching equipment, I understand that the aerospace companies will also be awarding 4 scholarship places for deserving students in the programme.

The strong support from industry players is testimony to the importance of this degree programme to the future development of the aerospace industry in Singapore. It also demonstrates the companies’ commitment to developing Singapore as an aerospace hub

Conclusion

On behalf of NTU and the students, I would like to thank all the sponsoring companies. Your contributions and strong support for this programme will most certainly be crucial in building Singapore’s reputation as a key location for aerospace design and engineering activities.

Let me extend my warmest congratulations to NTU on the launch of your new aerospace degree programme. I am sure the industry is looking forward to flying high with your aerospace graduates soon.

Thank you.