BEIJING — The time may have arrived for the Singaporean aerospace sector to move up a notch by expanding its manufacturing segment into more risk-sharing partnerships. Maintenance, repair and overhaul (MRO), the dominant part of the industry, also presents opportunities, and it cannot afford to rest on its laurels and cease its continuous drive toward lower costs, the Association of Aerospace Industries (Singapore) says.

While the pace of a global recovery is uncertain, aircraft manufacturers are clear about some things as they head to the Singapore Airshow this week. The rise of low-cost carriers and regional air services has changed the face of Asia’s airline market. A decade ago it was dominated by widebody, long-range services. Regional carriers had a toe-hold, but nothing like the growth they’ve gained over the past 10 years. Market deregulation and better infrastructure have opened more flight opportunities, as elsewhere.

Stepping up its push to become a leading player in global aerospace, South Korea is proposing to build a 90-seat turboprop under an industry development plan that also seeks to press ahead with the KF-X fighter and KAH attack helicopter programs. The 2010-19 plan aims to raise South Korean aerospace turnover tenfold, making the country one of the top seven in the global industry, up from 16th place now.