The future of the aerospace and defence (A&D) sector belongs to those with the will to innovate.
The future of the aerospace and defence (A&D) sector belongs to those with the will to innovate. And while the spirit of innovation lives among Canada's A&D manufacturers, it will take a greater push to thrive both at home and abroad.
The good news is we are on the right path. A competitive Canadian dollar has helped fuel aerospace export activity by 15% in the last year alone, and the sector continues to attract global interest. Our primes and other members of the domestic supply chain are driving the industry forward in new and exciting ways, and our country's affinity for nurturing innovative activities also brings great value to global A&D supply chains.
This drive to evolve and supply the Canadian Armed Forces with the most advanced equipment and services has made Canada a true innovator in the research and development (R&D) space. However, we are not alone. As new products, services, and other innovations enter the fray, Canada must continue to hone its competitive edge.
The dawn of a new day
Global A&D manufacturers are responding to the demand for innovation. According to KPMG's 2016 Global Aerospace and Defense Outlook, close to half of international A&D players are planning to launch one or more products within the next two years, and similar numbers are investing more than six percent of their revenue in R&D and innovation over that same period.
The survey also reveals an urgency among global A&D players to strengthen innovation by:
Download the full article to learn more about how global A&D manufacturers are responding to the demand for innovation.