FARNBOROUGH, United Kingdom, July 9, 2012 /CNW/ - The Aerospace Industries Association of Canada (AIAC) today released performance results for Canada's aerospace industry in 2011:

"The aerospace industry's performance for 2011 demonstrates the important contribution this sector continues to makes to the Canadian economy," said Jim Quick, President and CEO of AIAC. "The considerable increase in R&D investments reaffirms aerospace's position as one of Canada's largest industrial contributors to research and development."

Over 60 percent of respondents to AIAC's annual survey agreed that there is considerable room for the industry to grow in Canada in coming years, forecasting hiring increases of up to 15% by 2016. AIAC's members have indicated, however, that the changes to the SR&ED tax credit proposed in this year's federal budget may have a significant negative impact on future R&D investment decisions and weaken the aerospace industry's growth.

"2011 was a successful year for Canada's aerospace industry," said Quick. "In a highly competitive global market, we must continue to build on these achievements. The ongoing Aerospace Review will be the cornerstone to maintaining our industry's competitive edge and remain a world leader in this growing high-tech industry."

For more information on the aerospace industry's performance in 2011, please visit http://www.aiac.ca/resources-and-publications/industry-statistics

The AIAC is the national association representing Canada's aerospace manufacturing and services sector. As the world's fifth-largest aerospace industry, Canada's aerospace sector generates than $22 billion and employed 87,000 Canadians. Nearly three quarters of Canadian aerospace products are exported. AIAC represents the interests of 500 aerospace companies across Canada.

Maryse Harvey Vice-President Public Affairs Aerospace Industries Association of Canada 613 760-4562 mharvey@aiac.ca

Kristen VanderHoek Director of Communications Aerospace Industries Association of Canada 613 232-4297 x225 kvanderhoek@aiac.ca

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Canadian Aerospace Industry Posted Increased Revenues, Employment in 2011