Bains leads delegation to Farnborough
Navdeep Bains, Minister of Innovation, Science and Economic Development, is leading the Canadian delegation at the 2018 Farnborough International Airshow in the United Kingdom. In 2016, orders and commitments made at the airshow totalled more than US$124 billion.
July 17, 2018 By Wings Staff
The government explains his attendance underscores the importance of Canada’s aerospace industry. In 2017, the industry contributed close to $25 billion to the Canadian economy and employed almost 190,000 Canadians in what are described as well-paying, middle-class jobs.
At the airshow, Bains, together with Carla Qualtrough, Minister of Public Services and Procurement, Marc Garneau, Minister of Transport, and David Lametti, Parliamentary Secretary to the Minister of Innovation, Science and Economic Development, were to meet with a number of key Canadian and international aerospace stakeholders from July 15 to 17, 2018.
Bains officially inaugurated the Canadian Pavilion at the airshow on Monday, July 16, where he highlighted Canada’s global position in the production of civil airplanes, flight simulators, helicopters and engines to potential buyers and position Canadian firms for supply chain integration and investment.
Also on Monday, ministers Bains, Garneau and Qualtrough participated in a fireside chat hosted by the Aerospace Industries Association of Canada, during which they will promote Canada as a premier destination for global aerospace investment. The government explains Canada ranks first in the world for the production of civilian flight simulators, second for the production of business and regional aircraft, and first for the production of turboprop and helicopter engines.
“Over the last five years, the aerospace industry has become an increasingly important part of our economy, both in terms of its contribution to the overall economy and the number of people it employs,” said Bains. “As the vast majority of the products manufactured in Canada are exported, more and more companies from around the world are benefiting from the strength of Canada’s aerospace sector and its workers.”
In 2017, close to 75 percent of aerospace manufactured products were exported. When looking at the country’s entire export numbers, the aerospace industry is one of the country’s leading exporters, with parts, such as engines, avionics and landing gear, making up more than 60 per cent of exports.
Canada’s aerospace industry is described as the country’s number one manufacturing R&D player, with an annual investment of $1.7 billion.
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