Aerospace Industry Highly Innovative, Poised for Growth: New Report
OTTAWA, July 9, 2014 /CNW/ - Today the Aerospace Industries Association of Canada (AIAC), in partnership with Industry Canada, released its annual State of the Aerospace Industry report. The report contains updated data and analysis of the Canadian aerospace industry, including new data related to the space and defence sectors.
"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," 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."
"Canada's aerospace industry means 172,000 high-skilled jobs and nearly $28 billion to our national economy every year," said 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.
AIAC is the national association representing Canada's aerospace manufacturing and services sector. As the world's fifth-largest aerospace industry, Canada's aerospace sector contributes nearly $28B to the economy in GDP, exports 80% of its output, and dedicates over 20% of its activity to research and development (R&D). Aerospace is responsible for the employment of 172,000 Canadians. AIAC represents the interests of over 700 aerospace companies across Canada.
SOURCE Aerospace Industries Association of CanadaFor further information: Kristen VanderHoek, Director of Communications, Aerospace Industries Association of Canada, 613 232-4297 x225, email@example.com