The Canadian government will donate $350 million to support a new Canadian initiative for sustainable aviation technology, aimed at speeding up the industrial transformation of the aerospace industry.
According to research conducted by Horizon Aircraft, 73% of Canadians support the growth of the electric vertical takeoff and landing (eVTOL) industry, to support Canada’s economy and cut greenhouse emissions and traffic congestion.
Brandon Robinson, the chief executive of Horizon Aircraft, responded to the initiative at the Paris Air Show: “The Government of Canada's backing for this pivotal initiative will enhance our country's transportation capabilities, foster growth within the domestic supply chain, and bolster the competitiveness of Canadian aerospace suppliers,” he said. “We are thrilled to see support for ambitious enterprises in pursuit of innovation and the development of sustainable, net-zero aerospace technology, that will show benefits domestically and internationally.”
Horizon Aircraft says that Canada has an advantage in the global air taxi and urban air mobility industry. “This industry is forecast to see revenues grow from $2.3 billion in 2021 to as much as $30.7 billion by 2031, with more than 430,000 air taxis operating worldwide,” Robinson said. “Given Canada’s geography and landmass, it has major advantages over other countries to become a clear world leader in this fast-growing industry. [This] announcement will provide further support to helping Canada achieve this.”