Canada’s open market opportunities attract aerospace sector businesses
A longstanding policy of access to markets is helping Canada to develop and grow its aerospace sector.
De Haviland, Pratt & Whitney Canada and Bombardier are among the brands being…
A longstanding policy of access to markets is helping Canada to develop and grow its aerospace sector.
De Haviland, Pratt & Whitney Canada and Bombardier are among the brands being built in Canada and the country is keen to promote the benefits and incentives of doing business in the country.
Mike Mueller, Senior Vice President of Aerospace Industries Association Canada, works in partnership with Invest in Canada which brings the industry, community and government partners together to promote, consolidate and accelerates foreign direct investment into Canada, making it easier to run their operations in the country. Although Canada’s aerospace industry has been hit by the COVID-19 pandemic, Mueller believes the sector is well placed for recovery.
Stable and predictable
Mueller explained: “Canada is one of the lowest risk jurisdictions in the world. And, maybe selfishly, one of the best places to live. It’s also ranked number one in macro economic stability. It offers predictable political and economic landscape with open access to the world. As our Minister of Foreign Affairs has pointed out, countries are no longer defined by the size of their population, but by the size of their market access, and this has been a long standing policy across governments, with Canada is frankly, benefiting from.”
He added that Canada is a country with a population of 36 million people and is the only G7 country which offers investors preferential market access to more than 50 countries with 14 trade agreements to access 1.5 billion consumers.
Mueller added that Canada’s business policies make it one of the “most welcoming” countries in the world making it “easier for business to attract the talent needed to succeed in a global marketplace.” The country also benefited from the North American Free Trade Agreement making it easier to do business with markets including the USA.
Fifth largest aerospace sector in the world
The aerospace sector operates in clusters throughout the country, in particular in Montreal, Toronto, Vancouver and Manitoba and Atlantic Mueller added: “Canada’s aerospace sector is the fifth largest in the world, and globally Canada ranks first for the production of civil flight simulators and second worldwide in business aircraft productions, we’re ranked in the top three globally in the production of civil simulators, turboprops helicopter engines, business jets and regional aircraft.”
Sector contributes more than £25 million to GDP
Mueller added that the aerospace industry in Canada was the top research and development stakeholder among all of the Canadian manufacturing industries, with investments, totalling 1.4 billion. The sector contributes close to a quarter of total manufacturing research and development in Canada.
The industry contributes more than £25 billion to GDP in 2018 and 215,000 jobs in the Canadian economy. He said the country had been chosen by a number of major global companies to expand their businesses.
He gave the example of aerospace tube manufacturing business in Mirabelle with industry 4.0 equipment. The company has created new jobs and established a Centre of Excellence in research and development. The company has benefited from a grant of $3 million for equipment on the Canadian government.
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