They include the four founding members - plane makers Boeing and Airbus parent European Aeronautic Defence, and aircraft engine bigwigs Rolls-Royce and Pratt & Whitney - as well as six local small and medium-sized enterprises (SMEs).

Despite the global business downturn, the Agency for Science, Technology and Research or A*Star, which initiated the project, is confident it can hit 25 members by 2010.

To attract more members and especially local SMEs, which tend to be less enthusiastic when it comes to research and development, A*Star's Science and Engineering Research Council, which is overseeing the project, is considering allowing them to defer part of the $25,000 annual membership fee.

Mr Yash Gupta, director of the aerospace programme, told reporters at a media briefing following an industry seminar on Friday: 'We collect $10,000 from them first. When the research is completed and if they feel the solutions are applicable, they buy the intellectual property rights and pay us the remaining $15,000.'

To date, more than $14 million has been invested in the project, with the amount split almost 50:50 between the government and industry, said A*Star.

A team of 40 full-time researchers are working on 10 different projects.

The collaboration is significant not just for the companies but for Singapore too, which is pushing hard to make a name for itself in the fast-growing business.

The local aircraft maintenance, repair and overhaul (MRO) industry, comprising more than 100 companies and 19,000 workers, recorded a $6.9 billion turnover in 2007.

Despite the global downturn in the aviation industry which is expected to lead to a 3 per cent drop in Asia's MRO business, Mr Charles Chong, president of the Association of Aerospace Industries Singapore (AAIS) urged companies to continue to invest in research and development.

Speaking at the opening of the seminar, he said this was a good time to invest in technology and prepare for the upturn that will come.