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Canadian aerospace industry posts increased revenues

Aug. 13, Ottawa - The Aerospace Industries Association of Canada (AIAC) today released performance results for Canada's aerospace industry in 2007.


August 13, 2008
By Carey Fredericks

Aug. 13, Ottawa – The Aerospace Industries Association of
Canada (AIAC) today released performance results for Canada's aerospace
industry in 2007.

"Canada's continuing strong performance in global aerospace markets shows
that the innovative, cost-effective and proven technologies and services
Canadian aerospace companies develop are in demand," says Lajeunesse. "This
success is not only good for our industry, but for communities across Canada
where our companies operate".
       

Despite Canada's strong performance, serious long-term challenges are
confronting the industry. For example, while the rising cost of jet fuel is
having a negative impact on many airlines and their profitability. The upside,
however, is this is presenting new opportunities for Canadian companies
developing more fuel efficient products.
       

A second challenge is research and development. Building on the capacity
of Canadian firms to increase R&D expenditures in strategic technologies is
critical for the Canadian aerospace industry to position itself on future
major platforms. "R&D is the key to creating new leading-edge aerospace
products and services, and keeping us globally competitive," Dr. Lajeunesse.
       

Human resources are the industry's third challenge. There is a tremendous
need for highly skilled workforce in the Canadian aerospace industry, at a
time when baby boomers are facing retirement. "AIAC is reaching out to
universities and colleges to help promote the exciting and well-paying
opportunities for graduates coming into aerospace," says Dr. Lajeunesse.

       

AIAC is the national trade association of Canada's aerospace manufacturing and service sector – the fourth largest aerospace industry in
the world. The Association represents the interests of 400 companies, in all
regions of the country.