U.S. Aerospace Supplier and Investment Mission to Canada Generates $1.34 Billion in Commercial Deals
Guest blog post by Suresh Kumar, Assistant Secretary of Commerce for Trade Promotion and Director General of the U.S. and Foreign Commercial Service
When people think of Canada they often think of hockey, moose, and cold weather, not aircraft. In fact, Canada's aerospace industry is the fifth largest in the world ($22.2 billion in revenues in 2009) and the United States is Canada's largest supplier of aircraft parts and components. Bombardier Aerospace, a Canadian manufacturer of commercial aircraft and business jets, has grown to be one of the top four aircraft manufacturers in the world, behind Boeing, Airbus, and Brazil’s Embraer. Canada’s geographic proximity, open market economy and stable business climate make it an attractive market for U.S. aerospace companies.
To help U.S. companies take advantage of these export opportunities, I’m in Canada leading 21 companies on a three-day U.S. Aerospace Supplier and Investment Mission. On the mission, we announced commercial signings worth $1.34 billion in U.S. contracts with Canadian aerospace firms, a figure representing over $800 million in U.S. export content.
These newly signed commercial deals are a crucial part of our effort to strengthen the economy and will make an important contribution to manufacturing and job growth across the United States.