Industry Lens: Aerospace—December 2021

The Conference Board of Canada, December 13, 2021
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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.

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