It also wants to create 1,000 new jobs in the industry.
Singapore launched the Aerospace Industry Transformation Map (ITM), expecting to achieve a manufacturing value-added of $4b and introduce 1,000 new jobs by 2020.
According to the Economic Development Board (EBD), the ITM's three key thrusts include pursuing operational excellence, driving innovation in emerging technologies, and skill upgrades.
To pursue operational excellence, the government is encouraging companies to invest in new equipment and automation.
To fulfil the second thrust of the ITM, Singapore said it has A*STAR to support the innovation pillar of the aerospace ITM. EDB and A*STAR will also encourage commercialisation of developed technologies which are focused on industrial internet-of-things (IIoT), additive manufacturing, data analytics for predictive maintenance, and asset optimisation.
EDB also launched the Skills Framework for Aerospace with SkillsFuture Singapore (SSG) and Workforce Singapore (WSG).
Individuals will be able to explore careers covering 86 job roles four tracks, which are Aircraft Maintenance, Fleet Maintenance, Aircraft Engine/Component Maintenance, and Manufacturing.
The framework will also tech skills like Rapid Prototyping, Advanced Composite Failure Analysis, and Data Mining Techniques for Manufacturing Excellence.
JTC also signed a Memorandum of Understanding (MOU) with Association of Aerospace Industries Singapore (AAIS), aerospace companies, as well as the polytechnics and Institute of Technical Education (ITE) to collaborate on a new series of aerospace student outreach initiatives. These are expected to reach 1,500 students from the aerospace engineering courses annually.
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