A new PwC Canada study found that Bombardier’s manufacturing activities contributed CA$5.7 billion to Canada’s GDP and supported 33,276 full-time jobs in 2021. Further, Bombardier was ranked among the largest employers in the manufacturing sector in Quebec, where it is headquartered, in addition to supporting a network of suppliers.
Commissioned by Bombardier, the report provides an overview of the company’s contribution to GDP, job creation, and wealth in Canada, along with its competitiveness internationally and ESG milestones. Bombardier president and CEO Eric Martel noted that Bombardier, which last year became a pure-play business aviation manufacturer and services organization, continues to play a significant role in high-paying jobs and wealth in Canada.
“In the next three years, our strong manufacturing activities will contribute an estimated CA$25.2B to Canada’s GDP and generate more than 37,000 full-time jobs across Canada each year,” Martel said. “In Quebec alone in 2021, Bombardier supported direct jobs that represented 20 percent of all the jobs in the province’s aerospace sector. What’s more, these positions are high-value, skilled jobs with an average salary that is nearly 70 percent higher than the average salary in Quebec.”
Bombardier added that it is recruiting for 400 skilled positions in Canada and another 600 outside of the country.
The report further found that Bombardier spent CA$1.4 billion on goods and services from Canadian suppliers, 400 of which were located in Quebec and another 240 in Ontario. Bombardier is participating in 64 research projects with universities and colleges across Canada.
Bombardier is a major exporter, with 90 percent of the value sold outside of Canada. This amounts to 5.1 percent of the value of all exports in Quebec and nearly 1 percent of all exports made by Canadian companies.
Looking forward, Bombardier is forecasting revenues of CA$8.4 billion in 2022, increasing to CA$9.4 billion in 2025. This is based on strong macroeconomic conditions, limited preowned aircraft supply, backlog, and pricing increases, the report said, caveating that supply chain disruptions and global conflicts could change that forecast.
