Expanding into the US market presents Canadian aerospace and defense firms with a significant opportunity, given the US market's vast size—worth over $200 billion. Collaboration with the US counterparts have historically resulted in substantial technological advancements and aligning with the US regulations often serve as a springboard for global expansion, streamlining access to a $1.5 trillion global market.
The Word Trade Centre Toronto organized an export business mission to the 2024 Aerospace & Defense Supplier Summit (A&DSS) in Seattle, Washington from, March 12-14, 2024.
This project is funded by the Government of Canada through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). This export mission was done in partnership with:
A&DSS is a supply chain event that brings together aerospace and defence sector primes, tier 1 and 2 suppliers, and contract manufacturers. The event focuses on pre-arranged B2B meetings for engineering, procurement, supply chain, fabrication, commodity teams, suppliers, and service providers. A&DSS attracts over 1200 participants from 700 companies and 25 countries.
The mission kicked off with a breakfast event, featuring keynote speaker Joe Marcheschi, Head of Flying Parts Procurement Services at Airbus. The seminar provided a platform for knowledge sharing, networking, and collaboration, enabling Ontario aerospace companies to gain valuable insights into industry trends, best practices, and opportunities for growth.
Additionally, the exchange of ideas and experiences between Ontario and Polish aerospace stakeholders not only facilitated knowledge transfer but also laid the groundwork for potential partnerships and joint ventures aimed at leveraging Poland's position as a gateway to the European supply chain.
Market Activation Program (MAP) - Outbound Trade Missions
Take your business on curated business exchange programs or outbound trade missions.
Polish delegation representatives included:
Adam Barratt, Canada's Consul General in Seattle, United States, emphasizes the strategic advantages of Canadian companies attending trade shows in the United States. These events facilitate the development of vital networks, offer crucial market insights, and provide access to supportive trade commissioners. Participating in trade missions enhances understanding of US markets, enabling Canadian businesses to address specific market needs effectively. Barratt also notes the unique opportunity for Canadian companies to collaborate and share knowledge at these events, enhancing their long-term competitiveness.
"With an impressive $1.9 trillion in yearly goods and services trade between our nations, Canada's commitment to NAFTA and tariff-free trade agreements, alongside our adherence to international trading standards, solidifies our status as a reliable ally in commerce," said Barratt. "Moreover, our nation boasts a dynamic workforce—an invaluable asset in global business ventures. Canada's emphasis on education and productivity resonates with partners worldwide, including the United States, seeking ventures in foreign markets."
Witnessing the remarkable innovation in the Aerospace sector and establishing partnerships across global markets has been truly inspiring. In essence, the combination of our strong trade relations, adherence to international standards, and a skilled workforce positions Canada as an attractive destination for investment and collaboration, echoing our commitment to fostering enduring partnerships on the global stage.