World's Fifth Largest Aerospace Market Holds Opportunity for U.S. Firms
WASHINGTON, April 28, 2011 /PRNewswire-USNewswire/ -- Suresh Kumar, Assistant Secretary of Commerce for Trade Promotion and Director General of the U.S. and Foreign Commercial Service will lead a U.S. Aerospace Supplier Trade Mission of 21 companies to Montreal, Canada, May 2-4, 2011.
"Canada and the United States share the world's largest and most dynamic commercial relationship, and U.S. companies on this mission are ready to do business with the latest and most innovative aerospace technologies," Kumar said. "Through the National Export Initiative, President Obama is committed to doubling overall U.S. exports by 2015, and expanding cross-border trade with Canada is key to fostering mutual economic growth and competitiveness."
Canada's aerospace industry is the fifth largest in the world, with $22.2 billion in revenues in 2009. The United States is Canada's largest supplier of aircraft parts and components; on average, Canadian aerospace companies purchased 55 percent of their inputs from the United States. In 2009, U.S.- Canada aerospace bilateral trade exceeded $13 billion, and total U.S. aerospace exports to Canada were approximately $6 billion.
The trade mission will provide U.S. participants with first-hand market information, access to government decision-makers, and one-on-one business matchmaking meetings with prospective Canadian aerospace supply chain agents, distributors, partners. Altogether, U.S. Commercial Service staff at the U.S. Embassy in Canada have arranged over 140 business matchmaking meetings between U.S. and Canadian firms. Canadian companies will benefit from learning more about U.S. aerospace technologies and through face-to-face introductions to U.S. companies that are highly motivated to do business in Canada. U.S. companies will also visit key Canadian aerospace OEM plants such as Bombardier.
Canada is a world leader in business and regional aircraft, commercial helicopters, turbine engines, flight simulators, avionics, and a broad range of aircraft systems, components and equipment. Industry estimates show an expected recovery of the global aerospace industry to begin in 2011 that will positively impact Canada's largely commercial aircraft manufacturing sector. In 2009, Canada was the United States' 6th largest aerospace export market.
With offices across the United States and in U.S. Embassies and Consulates in nearly 80 countries, the U.S. Commercial Service of the U.S. Department of Commerce's International Trade Administration connects U.S. companies with international buyers. For more information, visit www.trade.gov/cs or www.buyusa.gov/Canada.
Participating Companies – U.S. Aerospace Supplier Mission to Canada, May 2-4, 2011
- Data Solutions & Technology (DST), Lanham, MD
- Dearborn Precision Tubular Products Inc., Fryeburg, ME
- Fluid Components International LLC, San Marcos, CA
- Hytek Finishes, Kent, WA
- Industrial Metals Int'l Ltd., Ronkonkoma, NY
- Integrated Manufacturing Group, Livermore, CA
- Jonal Laboratories, Inc., Meriden, CT
- KinetX, Inc., Tempe, AZ
- LAI International, Scottsdale, AZ
- Liquid Measurement Systems, Georgia, VT
- Lucas Milhaupt, Cudahy, WI
- Masters Machine Company, Round Pond, ME
- Micro Instrument Corp., Rochester, NY
- OSI Electronics, Camarillo, CA
- Pelican Canada, Ottawa, ON
- Schott Elecpac, LLC, Cary, IL
- SPX Precision Components, Newington, CT
- Staco Systems, Inc., Irvine, CA
- Swift Engineering Inc., San Clemente, CA
- Tavis Corporation, Mariposa, CA
- Wesco Aircraft Hardware Corp., Valencia, CA
International Trade Administration
The International Trade Administration (ITA) is the premier resource for American companies competing in the global marketplace. ITA has 2,100 employees assisting U.S. exporters in more than 100 U.S. cities and 77 countries worldwide. For more information on ITA visit www.trade.gov.
SOURCE International Trade Administration