Estimated reading time 3 minutes, 3 seconds.
Aero Montreal said it fully supports the arguments presented by the Canadian aerospace industry to the federal government and shares its concerns about the lack of support for the sector in Finance Minister Bill Morneau’s recent economic update.
This new snapshot makes no reference whatsoever to measures that would allow the industry to emerge from the crisis. That is why Aero Montreal is reiterating the importance of implementing a Canada-wide aerospace strategy, with specific measures dedicated to our sector, as soon as possible.
By putting the aerospace industry at the heart of economic policies for more than 80 years, both in Quebec and in Canada, governments have succeeded in making aerospace an industry that contributes more than $25 billion to the country’s GDP.
Amidst the COVID-19 crisis, when other jurisdictions around the world are redoubling their efforts to support their aerospace industry, Quebec is supporting its “champion.” But the Canadian government is still waiting and Canada continues to fall behind on international markets. Aero Montreal is sounding the alarm on behalf of the Québec aerospace industry, which represents 49 per cent of the Canadian aerospace sector’s workforce and 57 per cent of its sales.
In Canada, research and development is at the heart of the aerospace industry, with an investment of $1.4 billion per year, more than 70 per cent of which is carried out in Quebec.
In times of economic recovery, innovation is critical. For example, France is banking on an innovative recovery with a carbon-neutral aircraft. The United States has repeatedly demonstrated its support for the defence sector, allowing for the development of leading edge technologies that can be transferred to commercial aircraft.
Canada must, without further delay, continue to invest in this strategic sector to position itself in this race for innovation. In order to succeed, our industry must be able to retain its highly-skilled workforce and prevent the ecosystem from being eroded.
“The unprecedented mobilization of all players in the aerospace industry illustrates the intensity of the crisis we are experiencing. Through a collective approach, we are advocating the urgent need for a specific strategy dedicated to our sector that will accelerate the recovery, while emphasizing that this cannot be achieved without the help of the federal government,” said Suzanne M. Benoît, president of Aero Montreal.