The Aerospace Product and Parts Manufacturing expenses in Canada have demonstrated fluctuations over the past decade. The industry saw significant growth from 2013 to 2015, with year-on-year increases peaking at 26.13% in 2015. However, there were periods of decline, most notably in 2016 and 2020 with reductions of 19.15% and 17.31% respectively. Recent years indicate a recovery and growth trend, ending 2023 at 29.75 Billion CAD, reflecting an 8.08% growth from 2022. The Compound Annual Growth Rate (CAGR) for the past five years up until 2023 is 5.24%.
Future projections suggest a steady increase, with expenses forecasted to reach 35.754 Billion CAD by 2028. The expected five-year CAGR from 2024 to 2028 is 2.91%, indicating a moderate but consistent growth trajectory. Key trends to watch for include advancements in aerospace technology, shifts in global demand, and government policies impacting the manufacturing sector.
