AIAC & ISED Release Latest State Of Canada’s Aerospace Industry Report
11 Julio 2024 - 1:00PM
Newly released data reveals that Canada’s aerospace industry is
showing signs of economic recovery and continues to be a key driver
of the economy as well as a hub for innovation and R&D.
Today, the Aerospace Industries Association of
Canada (AIAC), in partnership with Innovation, Science and Economic
Development Canada (ISED), released the latest State of Canada’s
Aerospace Industry Report, based on 2023 year-end data.
This data indicates Canada’s aerospace industry
continues to see increase in revenue, R&D spending, and the
sector’s contribution to jobs and GDP, compared to data collected
during the height of the COVID-19 pandemic. While not yet at
pre-pandemic levels of production, the industry contributes
approximately 218,000 jobs to the economy and nearly $29B to
GDP.
In Canada, the aerospace industry continues to be
an R&D leader, ranking first across Canadian manufacturing
industries, with an R&D intensity 3.6 times higher than the
manufacturing average. Canada also maintained its global rank in
the top five for civil flight simulators, civil engines, and civil
aircraft sub-segments. Canada’s aerospace industry exports are
valued at $19B as the sector remains a major player in the global
aerospace supply chain.
“Today’s data confirms that Canada’s aerospace
industry not only has rebounded but is also forging ahead. With
R&D expenditures restored to pre-pandemic levels, our
commitment is clear: the Government of Canada stands shoulder to
shoulder with the industry, fostering its leadership, growth and
competitiveness as we transition toward decarbonization. Together,
we are ensuring Canada’s aerospace industry continues to thrive,
driving economic growth and creating high-quality jobs for
Canadians,” said the Honourable François-Philippe Champagne,
Minister of Innovation, Science and Industry.
“As revenues, jobs and GDP continue to recover and
grow, Canada must not take anything for granted. Now more than ever
we need an industrial aerospace strategy to ensure Canada is
positioned to compete with other leading aerospace nations and
capitalize on the economic opportunity in front of us, leading to
greater investments, innovation and capability at a time when our
country needs it most.” said Mike Mueller, President and CEO,
AIAC.
The report’s key findings
include:
- Canada’s aerospace manufacturing revenues, jobs, and GDP
increased between 2022 and 2023, with the sector nearing
pre-pandemic levels as it continues to recover from the challenges
of COVID-19.
- The Canadian aerospace industry contributed close to $29B in
GDP and 218,000 jobs to the Canadian economy in 2023.
- Between 2022 and 2023, the aerospace industry’s contribution to
the Canadian economy increased by $1.7B in GDP and 5,400 jobs.
- Canada maintained its rank in the top five in civil flight
simulators, civil engines, and civil aircraft sub-segments,
underscoring the Canadian aerospace industry’s product range
diversification in 2023.
- The Canadian aerospace industry ranks #1 in R&D among all
Canadian manufacturing industries in 2023, with R&D
expenditures returning to pre-pandemic levels.
- The Canadian aerospace manufacturing industry exported over to
$19B and actively participated in global supply chains in 2023;
more than 75% of aerospace manufacturing revenues were
export-oriented, with nearly 60% being supply chain related.
About AIAC:
AIAC is the national association representing
Canada’s aerospace manufacturing and services sector. As the
world’s seventh-largest aerospace industry, Canada’s aerospace
sector contributes nearly $29B to the economy in GDP, exports 75%
of its output and invests heavily in research and development
(R&D) – approximately $1.2B in 2023 – while supporting nearly
218,000 jobs from coast to coast.
For more information:John
BraniffSr. Manager Communications and Social Media,
AIACjbraniff@aiac.ca613-601-0035
Media RelationsInnovation, Science and Economic
Development Canadamedia@ised-isde.gc.ca