Aviation
The aviation industry world-wide has been slowed down during the pandemic but it would not discourage investors to foresee the huge potential in this segment in the coming years. The commercial aerospace segment will take time to gain the normal pace in passenger traffic, however, the growing technological advancements will shape the future of the aviation sector. Tremendous growth is predicted in the coming two decades and countries are competing to take advantage of the upcoming opportunities in the aerospace segment.
Canadian Aviation Industry
Canada offers world-class capabilities not just in the designing and production of commercial aircrafts, helicopters, flight simulator systems, small gas turbine engines, and landing gear, but also stands strong in Avionics, power conversion, environmental controls, in-flight entertainment, Maintenance Repair and Overhaul (MRO), logistics support, Space robotics and communications satellites. It is remarkable that the aircraft maintenance, repair & overhaul (MRO) subsector has developed by 26 percent in the last 10 years. Geographically, more than half of Canada's airplane fabricating happens in Québec, around 30 percent in Ontario and about forty one percent of all aircraft MRO happens in Western Canada. Canada is committed to research and development in the aviation sector, which is the top R&D stakeholder among all manufacturing industries in Canada, with an investment of around $1.4 billion in 2018 and growing. Canadian aviation companies hold a high reputation for their quality and performance delivering timely, cost-effective and leading-edge technology solutions.
The United States' Aviation Sector
The aviation sector of the United States is the biggest in the world and offers an educated and skilled labor force, broad distribution frameworks, various contributions and solid support at the local & national level for strategy and promotion. The U.S. aviation sector employs over 500,000 workers in technical and scientific jobs in the country and supports more than 700,000 job positions in related fields. Investment in the aviation industry in the U.S. is enabled by an enormous pool of aerospace specialists, well-trained machinists & other highly-talented laborers with experience in the aviation business. R&D focus will on technological advancements, supply-chain transformations and cost reduction offering lucrative opportunities for investor shareholders.
Professionals at Prescott & Lynn have a deep understanding of aviation industry dynamics and our unparalleled network of experts on board assist international companies in this industry establish their business in Canada in the most cost-effective and productive manner.