Minister Champagne promotes Canada as the destination of choice for sustainable aviation investment

OTTAWA, ON, June 21, 2023 /CNW/ - Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, concluded his visit to the Paris Air Show, where he promoted Canada's highly innovative aerospace industry and its leadership in sustainable aviation.

Accompanied by a delegation of more than 400 industry representatives and stakeholders, including those from over 130 companies, Minister Champagne met with several industry leaders, including the CEOs of Airbus and Bell Textron, as well as with senior executives from Safran, Raytheon and Lockheed Martin, among others. The Minister also took time to meet with several Canadian aerospace company representatives, including the CEOs of De Havilland, CAE and Héroux-Devtek.

While at the Paris Air Show, the Minister announced an investment of $350 million to support Canada's new Initiative for Sustainable Aviation Technology (INSAT) aimed at accelerating the green industrial transformation of the aerospace industry. He also joined Canada's SAF+ Consortium for the signature of an agreement with Air France KLM to supply e-SAF (sustainable aviation fuel derived from renewable energy) for their aircraft.

The aerospace industry is one of the most innovative and export-driven sectors in Canada, contributing close to $27 billion and more than 210,000 jobs to the economy.

Quote

"This year's Paris Airshow was a huge success and an opportunity to showcase why Canada is the place for aerospace businesses to invest, create jobs and have a role in the use and development of the aircraft of the future. Our government is committed to making Canada a leader and a strategic partner of choice when it comes to sustainable aviation. With Canada's new Initiative for Sustainable Aviation Technology, our aerospace industry will help drive and accelerate the green transformation of this critical sector while strengthening supply chains and supporting the transition to a net-zero economy."
– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

Quick facts

• The aerospace industry is one of Canada's leading exporters. In 2022, more than 80% of aerospace manufacturing revenues were export-oriented, and close to 60% of these revenues were supply chain–related.
• Aerospace invested over $680 million in research and development in 2022, maintaining its ranking as top R&D spender among all Canadian manufacturing industries.
• The Paris Air Show is a global showcase for the aerospace industry that attracted over 2,400 exhibitors from more than 49 countries this year.

Associated links

• State of Canada's Aerospace Industry Report – Summer 2023
• Canada invests $350 million in national sustainable aviation innovation network

Stay connected

Find more services and information at Canada.ca/ISED.

Follow Innovation, Science and Economic Development Canada on social media.
Twitter: @ISED_CA, Facebook: Canadian Innovation, Instagram: @cdninnovation and LinkedIn

SOURCE Innovation, Science and Economic Development Canada

Laurie Bouchard, Director of Communications, Office of the Minister of Innovation, Science and Industry, [email protected]; Media Relations, Innovation, Science and Economic Development Canada, [email protected]