CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

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CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

Canadian aerospace companies stand to benefit from Boeing contract

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There are 81 Canadian suppliers to the P-8 Poseidon aircraft platform. PHOTO courtesy Boeing.

Canadian manufacturers are expected to benefit from a $4.6 billion (US$3.4 billion) contract awarded to Boeing (NYSE: BA) to build 14 new P-8A Poseidon aircraft for the Canadian Air Force and three for the German Navy.

The P-8A Poseidon is a maritime and reconnaissance aircraft with anti-submarine and anti-surface warfare capabilities. With the P-8 acquisition, Boeing’s economic commitments to Canada have the potential to generate annual benefits of more than 3,000 jobs for Canadian industry and value-chain partners, and at least $358 million to Canada’s gross domestic product over a 10-year period.

Companies in Canada to benefit from contracts under the Poseidon building project include CAE, GE Aviation Canada, IMP Aerospace & Defence, KF Aerospace, Honeywell Aerospace Canada, Raytheon Canada, and StandardAero. There are 81 Canadian suppliers to the P-8 platform. (More than 550 suppliers across all provinces contribute to Boeing’s annual $4 billion business in Canada.)

Canada ordered 14 Poseidons to replace its Canada’s CP-140 Aurora maritime patrol aircraft and Boeing expects to make delivery of the first P-8A Poseidon by 2026.

“With the P-8 acquisition, Boeing’s economic commitments to Canada have the potential to generate annual benefits of more than 3,000 jobs for Canadian industry and value-chain partners, and at least $358 million to Canada’s gross domestic product over a 10-year period,” Boeing said in a news release.

Boeing expects to spend $2.5 billion in Western Canada, about $920 million of  which would be spent in B.C

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