Aerospace industry poised for growth: report

Aerospace is a growing, highly innovative, research-intensive, highly skilled industry in Canada, and it is set to grow even more rapidly in the next six years as it enters into the lucrative global large jet market. This is according to a new State of the Aerospace Industry report released by the Aerospace Industries Association of Canada (AIAC), in partnership with Industry Canada. The industry encompasses civil and defence activities, including maintenance, repair and overhaul (MRO) as well as the manufacture of space systems, including satellites.

Two-thirds of aerospace revenue today is derived from commercial aircraft and rotorcraft production, and aircraft structure-related activities. Business jets are the main sources of aircraft production revenue. However, Canada is expected to enter the much bigger large jet market in 2015 with the Bombardier CSeries jets. Large jets account for 76 per cent of global aircraft production. Large jet production is forecast to generate “close to 20 per cent” of aircraft production revenue in Canada by 2021.

R&D-aerospace-Canada-manufacturing-aircraft-commercial-MRO-civil-aviation-defence-production-EDIWeekly
Source: Aerospace Industries Association of Canada/Industry Canada

The report says that “leading independent international research firms” rank Canada third in the world in terms of civil aircraft production revenues, and it is expected to grow twice as fast as the global market between now and 2021.

In 2013, there were 172,000 jobs in aerospace, in more than 700 companies, and the industry contributed nearly $28 billion to the Canadian economy. Most of the industry’s activity is manufacturing (70 per cent), the remainder being MRO. The majority of the manufacturing is done in Quebec and Ontario.

It is also one of Canada’s most R&D and export-intensive industries, spending $1.7 billion annually, five times the manufacturing average. More than 50 per cent of those working in aerospace are engineers, researchers, scientists and technicians. Nearly 80 per cent of aerospace products are exported.

Did you miss this?

Other Popular Stories

  • Oil train disaster plays to the pro-pipeline position
  • NASA Discovers Eighth Planet Circling Distant Star
  • Economy shows strength in third quarter
  • Manufacturing rose again in second quarter
  • Canada's west to lead growth of economy for 2017 at 3.3 per cent: Conference Board of Canada
  • Ford to boost profits by cutting 1400 salaried workers in North America and Asia
  • Boeing and Bombardier Dispute Intensifies, Canada and U.K. Pressure Boeing to Resolve Conflict
  • California to test grid-scale power-to-gas energy storage
  • TransCanada will use railroads if Keystone pipeline not approved
  • 100,000 watt laser firing 10,000 pulses per second would "deorbit" tons of dangerous space debris
  • Ontario economy set to grow based on exports, weaker dollar
  • Manufacturing sales up in December but down for the year on weak energy sector
  • Will Ukraine be Canada's next big oil market?
  • Magna International acquires German transmission giant
  • Fracking study finds methane emissions lower than EPA estimates
  • New GO buses will be assembled in GTA
  • Southwest Requested More Time for Inspections, Second Engine Explosion Results in Tragedy
  • Chrysler expanding Windsor assembly plant for "future vehicle"
  • Government renews $81 million contract with MacDonald Dettwiler for space work
  • Canada Goose doubles production capacity with new Toronto plant
Scroll to Top