E-Library

Industry Lens: Aerospace—December 2021 The Conference Board of Canada, December 13, 2021 Website

Industry Lens: Aerospace—December 2021

The Conference Board of Canada, December 13, 2021
Website

1 2 3 4 5	0 reviews

(You must be signed in and entitled to rate this report)

This report examines the short-and medium-term economic and profitability outlook for Canada’s aerospace industry. Document Highlights The pandemic dealt a weighty blow to commercial aviation, sending demand for aircraft, parts, and repairs tumbling. As aviation recovers, Canadian aerospace production will increase. Output will show positive annual growth in 2022. Before the pandemic, the aerospace industry faced looming skilled worker shortages. Pandemic-induced layoffs and fewer graduates in the pipeline will challenge the industry as it ramps up production. Supply chain stresses may lead to some restructuring of the aerospace industry. Abnormal price volatility for commodities like aluminum and titanium may increase costs for producers over the short term. Aerospace manufacturers are exploring innovative means of reducing aviation’s environmental footprint, often with government assistance. Through wage supports and targeted funding in Budget 2021, the federal government is supporting the aerospace sector’s recovery. A national aerospace strategy would provide clarity for domestic production over the long term.

This report examines the short-and medium-term economic and profitability outlook for Canada’s aerospace industry.

Document Highlights

The pandemic dealt a weighty blow to commercial aviation, sending demand for aircraft, parts, and repairs tumbling. As aviation recovers, Canadian aerospace production will increase. Output will show positive annual growth in 2022.
Before the pandemic, the aerospace industry faced looming skilled worker shortages. Pandemic-induced layoffs and fewer graduates in the pipeline will challenge the industry as it ramps up production.
Supply chain stresses may lead to some restructuring of the aerospace industry. Abnormal price volatility for commodities like aluminum and titanium may increase costs for producers over the short term.
Aerospace manufacturers are exploring innovative means of reducing aviation’s environmental footprint, often with government assistance.
Through wage supports and targeted funding in Budget 2021, the federal government is supporting the aerospace sector’s recovery. A national aerospace strategy would provide clarity for domestic production over the long term.

To see if you are entitled to get this research for free, take a minute and create a free e-Library account. This will let us determine if someone else at your organization has already purchased access to this material.