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Being a highly technical industry, the aerospace industry is committed to investing in research and development (R&D). In fact, in 2018, the aerospace industry invested $1.4 billion in R&D. As a result, the R&D programs of most aerospace companies are focused on developing unique aircraft-related technologies.
The aerospace industry in Canada is a dynamic and thriving sector characterized by innovation, advanced technologies and global competitiveness. It encompasses the design, manufacture and maintenance of aircraft and related components. With a strong focus on research and development, Canada’s aerospace industry plays an important role in the country’s economy, creating jobs, fostering technological advances and contributing to international collaborations.
In addition to the SR&ED program, aerospace companies have access to the Industrial Research Assistance Program (IRAP) and the National Research Council (NRC). These programs are designed to accelerate the commercialization of innovative technologies and provide resources to improve the competitiveness of the aerospace industry. Canadian aerospace companies can also explore sales tax recovery and property tax and valuation services opportunities to maximize their financial resources and reduce costs.
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