CORRECTION - Aerospace Leads Canadian Manufacturers in Innovation, Exports

OTTAWA, ON--(Marketwired - June 13, 2017) - In the news release, "Aerospace Leads Canadian Manufacturers in Innovation, Exports," issued earlier today by Aerospace Industries Association of Canada, we are advised by the company that the link below the first paragraph should read "2017 State of the Canadian Aerospace Industry report" rather than "2016 State of the Canadian Aerospace Industry report" as originally issued. Complete corrected text follows.

Aerospace Leads Canadian Manufacturers in Innovation, Exports

OTTAWA, ON -- June 13, 2017 -- The 2017 State of Canada's Aerospace Industry Report, which was released today by the Aerospace Industries Association of Canada (AIAC) and Innovation, Science and Economic Development Canada (ISED), provides continued proof that the that the aerospace industry is Canada's most innovative manufacturing sector, leading manufacturers in R&D investment and posting nearly 30% of the sector's R&D investments in 2016. Canadian aerospace is also strongly integrated into global supply chains and a major player in the international aerospace market.

Key findings in the 2017 State of the Canadian Aerospace Industry report include:

• Canada's aerospace industry contributed nearly $28B to GDP and 208,000 jobs to the Canadian economy in 2016
• Canadian aerospace manufacturing was the number one R&D investor across manufacturing industries, was six times more R&D intensive than the manufacturing sector average, and generated nearly 30% of all Canadian manufacturing R&D investments in 2016
• Canada ranks in the top three globally for the production of civil aircraft, helicopters, engines and flight simulators
• Canadian aerospace manufacturing supply chain exports are an important part of the industry's activity, growing 20% over the last 15 years and representing more than 60% of all aerospace product exports
• Canadian aerospace manufacturers develop new technologies at twice the rate of the Canadian manufacturing average, and they recruit significantly more employees for innovation-related roles
• Canadian aerospace outpaces the national manufacturing average in the use of all four major types of innovation practices: product, process, organizational and marketing innovation
• Canadian aerospace companies collaborate significantly more with industry, academia and government than the Canadian manufacturing industry average

"Innovation has made Canada a global aerospace industry leader and a natural home for aerospace investment," said the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development. "This report, made in collaboration between the Government of Canada and industry, provides a valuable fact base for understanding the trends and economic contribution of the Canadian aerospace industry. Insights like these help the government implement the Innovation and Skills Plan, which will ensure that Canadians have the right skills for the economy of today and tomorrow."

"The aerospace industry is the poster-child for innovation leadership in Canada," said Jim Quick, President and CEO of AIAC. "It is collaborative, globally integrated, and a best-in-class creator of high-value jobs and opportunity for Canadians all across the country. As government implements its plan to foster prosperity for Canada's middle class through innovative businesses and sectors, the aerospace industry can and will lead the way."

Click here to download the complete report.

AIAC is the national association representing Canada's aerospace manufacturing and services sector. As the world's fifth-largest aerospace industry, Canada's aerospace sector contributes nearly $28B to the economy in GDP, exports 80% of its output, and dedicates over 20% of its activity to research and development (R&D). Aerospace is responsible for the employment of 208,000 Canadians.