The Canadian aerospace industry is poised for strong, sustained growth. Aerospace Manufacturing and Design, a site dedicated to news and resources for Canadian aerospace manufacturers, reports that Canada ranks 3rd in global civil aircraft production, and is forecasted to grow at twice the rate of the international civil aircraft manufacturing industry until at least 2021.
Canada’s aerospace industry is responsible for 170,000 jobs, and directly employs 73,000 high-skilled employees (30% of which are engineers, scientific staff, or technicians), while contributing $28 billion to Canada’s economy annually. Canada is home to over 700 aerospace firms. This industry drives innovation through R&D spending at $1.7 billion annually, which is 5 times the average R&D expenditure per-manufacturer in Canada’s manufacturing sector as a whole. This industry also drives international exports, with 80% of revenues being generated internationally.
Aerospace parts production grew by 22% in 2013 to $1.9 billion annually. Overall, aerospace manufacturing has recovered by 25% since the global economic downturn of 2008/2009.
Canada hosts manufacturing operations for many global leaders in the aerospace industry, including:
- Pratt & Whitney Canada: Engine production for civil aircraft, including the new 10,000 pound- thrust-class engine family, which improves upon International Civil Aviation Organization emissions standards by up to 50%
- Bombardier Aerospace: A world leader in the design and manufacturing of innovative aviation products and services for regional, business and amphibious aircraft.
- Bell Helicopter Textron Canada Ltd.: Bell has produced over 3,400 helicopters for worldwide clients.
This industry is driving economic growth in Canada, which has led federal and provincial governments to nurture its continued strong performance by making grants and loans readily available to aerospace firms.
Canadian government funding for aerospace manufacturers includes coverage for capital equipment purchases, skills training, and hiring. Some examples of funding for manufacturers in the aerospace sector include:
- CME SMART Advanced Technologies for Global Growth: Max $100k grant for advanced technology adoption.
- Southwestern Ontario Development Fund (SWODF): Max $1.5M grant or $5m loan for business expansion and job creation.
- Investing in Business Growth & Productivity (IBGP): Max $20M 0% interest loan for large business expansion projects.
- FedDev Ontario Training Program: Max $50,000 grant for training to promote export expansion.
- Canada-Ontario Job Grant (COJG): Max $10,000 grant per trainee for third party training to develop employees.
These are just a small selection of available funding and the list is constantly evolving. Please click on any of the program names above to learn more or contact Mentor Works to see what Canadian government funding programs are ideal for your company’s upcoming strategic initiatives. We also offer free resources on grant and loan funding, such as our “Comparing Funding Types” info sheet.