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The main theme of the summit was technological best practices within the industry that contribute significantly to increasing productivity and efficiency in a bid to survive during these difficult times.
Over 100 key industry leaders and C-level executives from the region's top-notch corporations along with government officials from the Airlines, Airports, Manufacturing, MRO, Information Technology, Finance, Aviation Training, Defense, General Aviation and Homeland security sectors gathered at the summit.
The guest-of- honour at the summit, Dr. Su Guaning, President of the Nanyang Technological University made opening remarks to kick-start the day-long summit. Organised in partnership with the Association of Aerospace Industries (Singapore), or AAIS, keynote was delivered by Dr. Aloysius Tay, Chief Executive at AAIS.
Addressing the 'Paradigm Shift in Aviation Dynamics for 2009', Dr. Tay commented, "The increase in global flight demand has been nothing short of phenomenal, but challenges that the aviation industry faces at present with the increasing cost of operation and decreasing revenues are calling for major restructuring of their business models. Companies with a model that can offer value at competitive pricing to customers, while keeping a lean cost structure, will be able to capture a good share of the global pie."
The summit progressed to include in-depth discussions on the market dynamics and technological perspectives of the industry. While the core focus of the summit was Frost & Sullivan's insights on the CEO 360 degree perspective of the Asia Pacific aerospace industry, topics emphasising the technological and financial play within the aviation market were widely discussed throughout the summit. Topics included - The emerging technology trends in MRO, information technology adoption in airline industry, cutting edge technology in aid to improve airport security, financial strategies in Asia Pacific aviation market – along with many other insightful discussion topics relevant to the aviation industry.
Mr. Subhranshu Sekhar Das, Director of Asia Pacific Aerospace & Defense at Frost & Sullivan, says, "Air traffic growth is expected to reduce below 6.0 percent for 2009 with air cargo experiencing the highest decline. Consequently, the Airlines industry has been the most affected resulting in capacity cut and aircraft orders being canceled or delayed.
"However Asia-Pacific region, will be leading in aviation growth as compared to Europe and US despite the current economic situation. Major green-field airport developments shall continue to be pursued mainly in India, China & Middle East owing to domestic air travel markets. Nevertheless, there will be continued demand for economical air travel and good customer service that will keep only the smarter airline thriving in times to come, " Mr. Das added.
Aimed to promote intra-industry sharing and cross learning that allow exchange of knowledge and experience between all participating delegates, the sessions were held in the form of direct learning presentations and interactive panel discussions.
Heightening the expertise exchange were the pool of reputable thought leaders presenting these sessions. They included senior industry analysts from Frost & Sullivan and industry luminaries such as, Mr Ho Yuen Sang, Deputy President Operations and Chief Operating Officer, ST Aerospace, Mr. Aminuddin Zakaria, Regional Director, GE Engine Services, Mr. Jonathan Asherson, Regional Director, Rolls Royce and Mr. Sebastian Groeger, Senior VP & Head of Asean, Jet Aviation, amongst others.
Held in collaboration with the AAIS, summit was supported by IE Singapore, Singapore Exhibition and Convention Bureau and held in Uniquely Singapore. Aerospace Singapore, Asian Airlines & Airports, Asian Defense & Diplomacy and Asian Military Review were the supporting media partners while PR Newswire was the official wire for the summit.
For complete information on the summit please visit the website.
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 31 offices on six continents.
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