OTTAWA, ON--(Marketwired - June 30, 2016) - A joint annual report released by the Aerospace Industries Association of Canada (AIAC) and Innovation, Science and Economic Development Canada (ISED) today provides continued proof that the that the aerospace industry is Canada's most innovative manufacturing sector, leading manufacturers in R&D investment and posting nearly 30% of the sector's R&D investments in 2015. In addition to its innovation leadership, Canadian aerospace is also strongly integrated into global supply chains and remains a major player in the international aerospace market.
Key findings in the 2015 State of the Canadian Aerospace Industry report include:
- Canada's aerospace industry contributed more than $28B to GDP and 211,000 jobs to the Canadian economy in 2015
- Canadian aerospace manufacturing was the number one R&D investor across manufacturing industries, was over five times as R&D intensive as the manufacturing sector average and accounted for close to 30% of total manufacturing's R&D investments
- Innovation-relevant occupations accounted for over 30% of the aerospace industry's direct employment; annual compensation per employee in aerospace manufacturing was 60% above the manufacturing sector average
- Close to 80% of aerospace manufacturing was exported, and the industry was 55% more export intensive than the manufacturing sector average and twice as trade diverse
- Close to 55% of aerospace exports were supply chain related, and these grew by 50% between 2010 and 2015
- While Canadian-owned aerospace firms accounted for the majority of the industry's overall activities, Canadian operations of foreign-owned firms contributed to over 40% of the industry's R&D investments and 39% of exports, marking Canada as a place where global aerospace leaders come to do business with the world.
"This report highlights the importance of the aerospace industry to Canada's economy innovation ecosystem and manufacturing sector. This industry's commitment to continual research and development has allowed it to become a strong global competitor. As we develop our Innovation Agenda, I look forward to working with leaders like those in the aerospace industry to help strengthen Canada's innovation performance. The government has a plan to make innovation a national priority and establish Canada as a global centre for innovation," said the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
"Canadian competitiveness and prosperity requires an economy driven by diversity, innovation, and a strong connection to the global marketplace, and Canada's aerospace industry is well-positioned to lead the way. The State of the Industry Report clearly demonstrates that Canadian aerospace is one of our nation's strongest manufacturing sectors, driving innovation and exports and attracting high-value investment from aerospace companies around the world. As we look forward to the introduction of the government's Innovation Agenda later this year, we are confident that Canada's aerospace industry will continue to lead the way to a more prosperous, innovative Canada," said Jim Quick, President and CEO of AIAC.
Click here to download the complete report.
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 over $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 211,000 Canadians.