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As the backbone of manufacturing, the precision engineering sector is a key enabler for Singapore's high-value manufacturing. The industry contributes to 10% of Singapore's manufacturing output and employs close to a quarter of the total manufacturing workforce. With its highly specialised skill sets, precision engineering is an integral part of the manufacturing chain for all kinds of sophisticated products, ranging from the smallest semiconductor wafer to cutting-edge medical devices, advanced aerospace components and the largest drill bits used in oil exploration.
The industrial production has been growing since second quarter of 2009. The industry experienced a spectacular 40% growth in 2010, riding on the strong growth of the global electronics industry, with growth in the half year led by the Precision Modules & Components segment, while growth in the second half was led by the Machinery & Systems segment due to higher export orders for semiconductor related equipment.
Looking ahead, the Precision Engineering industry is poised to grow along with other manufacturing industries such as aerospace, oil and gas, semi conductor and medical technology. Employers have reflected positive hiring expectations for the near term. EDB also plans to develop Singapore into a Centre of Precision Engineering Excellence and targets to double the value-add of the industry to S$9.6 billion by 2018, alongside output of S$28 billion.
The Government has embarked on initiatives to upgrade and train the Precision Engineering (PE) talent pool. It will train 2,000 PE professionals over a five-year period through two programmes - the National Precision Engineering Scholarship Programme and the Specialist Programme. Nanyang Technological University (NTU) launched a Master of Science degree in Precision Engineering with a specialisation in optics in late 2011.These initiatives signal demand for skilled manpower, in particular engineering and technical talent.
Click the Singapore Workforce Skills Qualification (WSQ) icon below to find out about related training under the Precision Engineering industry!