Canadian aerospace industry revenue soars
AIAC says revenue reached $22.4 billion in 2011.
FARNBOROUGH — Canada’s aerospace industry has recorded a surge in revenue. The Aerospace Industries Association of Canada says revenue reached $22.4 billion in 2011, up 6.7 per cent from the previous year.
It says aircraft and aircraft parts and components remained the largest revenue segment, totalling $11 billion and 49 per cent of overall revenue.
Canada has the world’s fifth-largest aerospace industry, employing more than 87,000 people directly. Nearly three quarters of Canadian aerospace products are exported, with the United States accounting for almost 60 per cent of sales.
The association announced the results today at the Farnborough International Airshow in the United Kingdom.
© 2012 The Canadian Press