A promising future

The aerospace industry is cyclical and periodically experiences turbulence. This was the case after 9/11, as well as 2008–2009, when the recession affected some sectors more than others, like private aircraft and small engines. “But if we compare it to the Canadian manufacturing industry overall, aerospace is doing relatively well,” notes Claude Lajeunesse, AIAC President.
According to Carmy Hayes, Project Manager at CAMAQ, “Every economic cycle provides the industry with the opportunity to question itself. Yes, some products disappear and others are less popular, but you also have new models coming on board.” In other words, looking at the situation globally, while there are layoffs, there is also hiring to design and manufacture new aircraft.

Claude Lajeunesse adds: “For the past 30 or 40 years, each of the industry’s peaks has been higher than the previous ones, and each trough has been shallower.” Accordingly, despite the ups and downs, aerospace is on a positive slope.
In addition, new projects such as Bombardier’s CSeries and federal government contracts to replace its aircraft and helicopters will provide grist to the mill.  For the latter, the government has decided to implement a program to maximize the economic spin-offs of these contracts for Canadian industry.

Forecasts are also optimistic over the longer term. “The middle class is forecast to increase by 10% a year internationally, mainly in countries like China, India and Brazil, generating a desire to travel. Studies conducted by Boeing and Airbus show that there is a demand for $3.2 trillion worth of aircraft over the next 20 years,”  explains Claude Lajeunesse. Since 80% of Canadian aerospace production is exported, the industry will have a lot of work to do!