Mr. Speaker, I am happy to respond to the concerns of the hon. member for Saint-Hyacinthe—Bagot regarding Bombardier’s recent announcement. I want to begin by thanking my colleague for accommodating my schedule today. She did me a favour and that was very generous of her.
As the Minister of Innovation, Science and Economic Development stated, our thoughts go out to the workers and their families affected by Bombardier's announcement. We, as a government, understand the challenges that they are going through. The Government of Canada and Bombardier have a shared interest in contributing to a strong aerospace sector in Canada.
The aerospace sector is an engine for innovation, economic activity and highly skilled employment, making significant contributions to Canada’s socioeconomic well-being. In 2015, the aerospace industry contributed more than $28 billion to Canada’s GDP and hundreds of thousands of high-quality jobs to the Canadian economy.
While Montreal is the third largest aerospace hub in the world, However, it is important to recognize that Canada's aerospace industry extends across the country, as my honourable colleague pointed out. In fact, Canada's aerospace industry is comprised of nearly 700 companies of all sizes located in many regions that are integrated into local and global supply chains.
Anyone familiar with the aerospace industry knows that innovation is integral to its success. Aerospace is one of Canada's most R&D intensive industries spending more than $1.9 billion annually and dedicating more than 20% of its activities to R&D.
To put this in perspective, aerospace manufacturing R&D intensity is five times the manufacturing sector average. The aerospace sector punches above its weight.
Canada ranks third globally for civil aircraft production and second in the production of business aircraft. Canada ranks third globally in aircraft engines, but first in both turboprop and helicopter engine production.
Bombardier’s most recent innovation is the world’s most advanced commercial jet, the C Series. Bombardier is clearly a leader in innovation, and this will result in future growth and more of the highly-skilled jobs that Canada needs.
This aircraft has been a game-changer in using new engine technology and materials to be greener and more fuel efficient. The Minister of Innovation, Science and Economic Development has expressed publicly his desire that federal support for Bombardier be focused.
We want to ensure the benefits of long-term stability of the company and the aerospace industry in Canada, including economic benefits for Canadians, better jobs, and stronger communities.