Singapore's Defence Minister Chan Chun Sing told U.S. Secretary of War Pete Hegseth at the Pentagon on Sept. 10 that the country will acquire four Boeing Co. (NYSE:BA) P-8A maritime patrol aircraft to strengthen its maritime security capabilities.
Chan and Hegseth reaffirmed the longstanding defence relationship and exchanged views on regional security during their meeting in Washington. Chan also reiterated Singapore's support for continued U.S. engagement in the Asia-Pacific under the 1990 Defence Memorandum of Understanding, renewed in 2019.
The P-8As will replace the Republic of Singapore Air Force's Fokker 50s, in service since 1993, marking the first phase of Singapore's maritime refresh. Production of 20 F-35s for Singapore has also begun, with deliveries scheduled to start in late 2026.
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MINDEF said both sides welcomed closer cooperation on emerging threats, including joint research and development under a refreshed counter-terrorism agreement. During his Washington visit, Chan will also meet other U.S. defence and security officials.
The announcement comes as Singapore also faces economic headwinds from new U.S. tariffs announced in April. Prime Minister Lawrence Wong warned that the measures "will spell trouble for all nations, especially small ones like Singapore." At the same time, Senior Minister Lee Hsien Loong called the tariffs "not good news" for the nation's trade and economy. Singapore faces a 10% universal tariff on all exports to the U.S., and the Straits Times Index dropped 7.84% following the news.
Together, Singapore's defence upgrades and tariff challenges underscore the city-state's effort to secure its future in a volatile global environment.
Price Action: BA shares are trading 0.66% lower at $228 at the last check on Wednesday.
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