ST Engineering is eyeing a revenue of S$17 billion and a net profit improvement that outpaces its top-line increases by up to five percentage points annually over the next five years, said group chief executive officer Vincent Chong on Tuesday (Mar 18).

The group expects to reap S$6 billion in revenue from its commercial aerospace segment, more than S$7.5 billion from its defence and public security segment, and S$3.2 billion from its urban solutions and satcom unit by 2029, he added at the company's investor day.

For the 2024 financial year, it posted S$11.3 billion in revenue and S$702.3 million in net profit, while its order book came in at S$28.5 billion.

Cedric Foo, group chief financial officer, said that the engineering powerhouse will raise its top line by improving its core businesses, among which digital business, defence, premier maintenance, repair and overhaul engines and smart mobility are key drivers.