Canada’s aerospace industry will continue to be an economic driver in the country says new report
The Canadian aerospace industry contributed 172,000 jobs and nearly $28 billion to the Canadian economy in 2013 and it’s expected to continue to contribute to the country’s growth in coming years according to a report from the Aerospace Industries Association of Canada (AIAC) in partnership with Industry Canada.
“The numbers released today 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,” says 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.”
“Canada’s aerospace industry means 172,000 high skilled jobs and nearly $28 billion to our national economy every year,” says Hon. 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.”
Key findings from the report include:
- Contributing 172,000 jobs and nearly $28 billion to the Canadian economy in 2013, aerospace continues to be a strategic economic driver characterized by its innovation and strong growth forecasts.
- The aerospace manufacturing industry is one of Canada’s most R&D and export intensive industries, spending $1.7 billion annually – 5 times the manufacturing average.
- Canada ranks third in terms of global civil aircraft production and is forecasted to grow twice as fast as the global market during the 2014-2021 period, thanks in large part to its entrance into the large jet market next year.
- The Canadian aerospace defence industry has a strong MRO capability and its manufacturing activities are well integrated into global value chains. It also conducts a disproportionately high amount of defence-related R&D, relative to its size within the defence industry.
- Space systems manufacturing employment is concentrated in innovation and corporate functions, with highly-skilled, highly-paid employees and stellar rates of small- and medium-sized enterprises (SMEs) engaged in research and development.