Singapore Technologies Engineering owns a group of engineering firms divided into four business segments: Aerospace, Electronics, Land Systems, and Marine. Its Aerospace unit maintains, repairs, and overhauls commercial and military aircraft; its Land Systems unit upgrades and manufactures military vehicles and weapon systems, as well as provides custom design, maintenance, and repair services. ST Engineering's Electronics unit designs communications, transportation, simulation, microwave, and industrial electronic products, while its Marine segment builds and repairs ships, primarily patrol, container, and military vessels.
Customers span the military and commercial sectors and include airlines, shipping lines, homeland security, and transportation service providers. Commercial projects account for more than 60% of company revenues; however, much of the technology which feeds the systems and services offered to the civilian sector were created as government projects based on defense technology and vice versa. The company believes that its exposure to the defense and government markets provide it with a certain stability in mercurial commercial markets.
The company's US arm, Vision Technologies Systems (VT Systems), accounts for about 28% of ST Engineering's total revenues. VT Systems' subsidiary, VT iDirect, designs bi-directional satellite-based broadband access products. Other subsidiaries include ST Aerospace Mobile, DalFort Aerospace, Miltope Business Products, MÄK Technologies, VT Halter Marine, and VT LeeBoy, to name a few.
ST Engineering continues to expand its geographic presence and is venturing into new markets of opportunity. The company is increasing its airframe maintenance capacity in key markets through its Aerospace segment. It is also beefing up its engines and components capabilities and has signed a 20-year agreement to serve as a GE-approved On-Wing support provider. ST Aerospace announced plans to form a joint venture between with Guangdong Airport Management in 2010. The $99 million investment will fund a maintenance facility in Guangzhou, China, that will service Boeing and Airbus aircraft.
The Electronics segment comprises three core divisions: large-scale systems group (LSG), communication and sensor systems group (CSG), and software systems group (SSG). This division is very active in developing new capabilities with dual-use applications. LSG advanced into China and Saudi Arabia where it is involved in rail projects. AT&T has used CSG technology to ensure continuous video reception for in-car entertainment in the US. SSG landed its first project in Tanzania to install a Tower Simulator for the Tanzania Civil Aviation Authority.
Land Systems serves customers in more than 30 countries. The segment's ST Kinetics subsidiary is a major player in Southeast Asia. It commenced delivery of the Warthog all-terrain vehicles to the UK Ministry of Defense in 2009. In addition to the defense industry, Land Systems is looking to expand its sales in construction and other related industries.
The Marine segment obtained a grant from the US Maritime Administration to develop shipyard infrastructure. The Marine sector has extended itself into environmental engineering, and is designing and building a materials recovery facility in Beijing. – less