Canadian Aerospace Industry Posted Increased Revenue in 2008



    PARIS, France, June 14 /CNW Telbec/ - The Aerospace Industries
Association of Canada (AIAC) today released performance results for Canada's
aerospace industry in 2008:

    
    - Industry revenue reached $23.6 billion in 2008 - a $900 million
      increase from 2007.
    - Aircraft, aircraft parts and components remained the largest revenue
      segment, totaling $12 billion and 51% of overall revenues.
    - 83,000 workers were directly employed by the aerospace industry, up
      from 82,000 in 2007.
    - Export sales in 2008 generated $19.3 billion (82% of total industry
      revenue) while domestic sales totaled $4.3 billion.
    - Although aerospace exports to the United States declined, the United
      States remained the most important market for Canadian aerospace goods
      and services, accounting for sales of $11.2 billion in 2008 and 58% of
      total sales.  European customers generated increased sales totaling
      $4,7 billion and accounted for 24% of total sales compared to 22% the
      previous year.  Canada's exports to Asian markets doubled and now
      account for 7% of total exports.
    - Sales to defence customers increased slightly to 23% ($5.4 billion) of
      total sales in 2008, up from 22% in 2007.
    - Expenditures on aerospace R&D increased to $1.3 billion (65% of total
      investment) in 2008.
    

    "The 2008 aerospace industry performance figures clearly demonstrate that
our sector continues to be a net contributor to the Canadian economy," said Dr
Claude Lajeunesse, President and Chief Executive Officer of the AIAC, to a
delegation of Trade Commissioners gathered in France for the Paris (Le
Bourget) Air Show. "However, due to the industry's long-business cycles, our
industry is likely to feel the impact of a recession later than other sectors.
The layoffs that took place in 2009 reflect this fact, and we expect that the
industry will need to weather the current economic storm for several months."
    '"Sustaining strong investments in R&D, and reducing trade barriers such
as ITARs (International Traffic in Arms Regulations) are critically important
for the aerospace industry - especially in these times of economic hardship"
said Dr. Lajeunesse. "The industry is focused on developing new state of the
art technologies that will be included in future major platforms all over the
world. Global demand for aircraft is expect to grow considerably over the next
20 years and we want Canadians to be in a position to take advantage of this
tremendous wealth creation opportunity." concluded Dr Lajeunesse.

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    The AIAC is the national association representing Canada's aerospace
    manufacturing and services sector. As the world's fourth largest
    aerospace industry, Canada's aerospace sector generates $23,6 billion
    annually and employs more than 83,000 Canadians. Eighty-two per cent of
    Canadian aerospace products are exported. AIAC represents the interests
    of 400 aerospace companies across Canada.
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For further information:

For further information: Maryse Harvey, Vice-President Public Affairs,
Aerospace Industries Association of Canada, (613) 760-4562, mharvey@aiac.ca.

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Aerospace Industries Association of Canada

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