In 2023, the opening inventories for aerospace product and parts manufacturing in Canada stood at 12.602 billion Canadian dollars. Historical data from 2013 to 2024 show variability with peaks and troughs, including notable increases in 2014 (18.03%) and 2015 (9.49%), as well as significant declines in 2015 (-1.39%) and 2017 (-18.61%). Over the last five years leading up to 2023, the compound annual growth rate (CAGR) was 9.84%, reflecting a notable upward trend.
From 2019 to 2023, there was a consistent but lower rate of increase in opening inventories, with the year-on-year rise ranging from 4.63% to 26.8%. Forecasts from 2024 to 2028 predict a more modest growth rate, with a CAGR of 2.85% over the next five years and a total growth rate of 15.11% by 2028.
Future trends to watch for include potential impacts of technological advancements, shifts in global aerospace demand, and economic conditions affecting production and inventory levels. Keeping an eye on these factors will be crucial for accurate forecasting and strategic planning in the aerospace sector.
