Aerospace Industry Poised for Growth

August 25, 2014
News Release
Management

A report from the Aerospace Industries Association of Canada (AIAC), in partnership with Industry Canada, shows positive signs for the Canadian aerospace industry, including the space and defense sectors.

Among other findings, this annual “State of the Aerospace Industry” report indicated that the aerospace manufacturing industry is one of Canada’s most R&D- and export-intensive industries, spending $1.7 billion annually, or five times the national manufacturing average.

“The numbers … illustrate the continued growth and vibrancy of Canadian aerospace and the important role that our industry plays as an innovative manufacturing leader at home and around the world,” said Jim Quick, president and CEO of AIAC. “By offering highly skilled, highly paid jobs, driving industrial innovation, and posting growing revenues, our industry is proud to be a strong contributor to Canadian jobs, communities, and our economy.”

The industry contributed nearly $28 billion to the Canadian economy in 2013, and forecasts show more growth in the near future.

Other key findings from the report revealed that Canada ranks third in terms of global civil aircraft production and is forecast to grow twice as fast as the global market during the 2014 to 2021 period, thanks in large part to its entrance into the large-jet market next year.

The Canadian aerospace defense industry also has a strong MRO capability and its manufacturing activities are well-integrated into global value chains. It also conducts a disproportionately high amount of defense-related R&D, relative to its size within the defense industry.

“Canada’s aerospace industry means 172,000 high-skilled jobs and nearly $28 billion to our national economy every year,” said James Moore, minister of industry. “Our government is committed to collaborating with partners across this important sector of our economy to ensure Canada remains a leading global aerospace innovator. With knowledge, opportunity, and research capacity, Canada is a great place for aerospace investment. Canadians can be proud of our world-class aerospace industry and the jobs and benefits it creates.”