ST Engineering, a key player in the aerospace industry based in Singapore, reported an 11% increase in sales for the first nine months of the year, driven primarily by growth in engine maintenance, repair, and overhaul (MRO) services, along with nacelles work. The company’s expansion is complemented by its aircraft leasing business, which recently facilitated the sale of two Boeing 737-800SF freighter aircraft.
Acquiring authorization for CFM Leap engine maintenance earlier this year, ST Engineering has enhanced its capabilities to overhaul, repair, and lease engines, with plans to raise maintenance output to 300 engines annually by 2027, following the recent opening of new facilities in Paya Lebar, Singapore.
On Nov. 12, Titan Aviation Leasing confirmed the sale of two converted Boeing 737 freighters to ST Engineering, which are on long-term leases to Georgian Airlines and ASL Airlines. Ramesh Krishna, head of aircraft leasing at ST Engineering, highlighted the company's strategic focus on building a portfolio of next-generation, environmentally friendly freighters to meet the evolving cargo market demands.
Looking ahead, ST Engineering aims to boost its annual commercial aerospace revenue to S$6 billion by 2029. During the third quarter alone, the company secured S$1.4 billion in new contracts, including a multiyear heavy maintenance and cabin modification agreement with a leading European airline operating the Airbus A380.
