- Positioning CAE as a leader in Advanced Air Mobility (air
taxis) and green light aircraft technologies
- Creating digitally immersive solutions using data ecosystems
and artificial intelligence
MONTRÉAL, July 15, 2021 /CNW
Telbec/ - (NYSE: CAE) (TSX: CAE) – CAE today announced that it will
be investing C$1 billion over the next five years in
innovation. The investment will fund Project Resilience, a
transformation project to develop the technologies of tomorrow,
including digitally immersive solutions using data ecosystems and
artificial intelligence in civil aviation, defence & security
and healthcare. The project will also allow CAE to position itself
as a leader in end-to-end technology, operational support and
training solutions for Advanced Air Mobility, as well as develop
green light aircraft technologies.
In partnership with the Government of Canada and the Government of Québec, the
project will allow CAE to play a key role in making air travel
safer, defence forces mission ready, and helping medical personnel
save lives.
The Government of Canada and
the Government of Québec will provide a combined investment of
C$340 million over the next five
years (C$190 million for Canada and C$150
million for Québec).
Executives and employees of CAE joined the Right Honourable
Justin Trudeau, Prime Minister of Canada, the Honourable François-Philippe Champagne, Canada's Minister of Innovation, Science and
Industry as well as Mr. François Legault, Premier of Quebec, and Mr. Éric Girard, Québec's Minister
of Finance and Minister of Economy and Innovation for the
announcement.
"CAE is launching a major five-year Research and Development
investment program which will reinforce CAE's position as a global
technology leader, create high-value jobs and collaborations, and
contribute to a greener, safer, and more inclusive world," said
Marc Parent, CAE's President and
Chief Executive Officer. "CAE is a Canadian innovation powerhouse,
and our Research and Development will allow us to reinforce our
leadership in training by creating digitally immersive solutions
across many sectors and markets to make the world a safer place.
The project will also allow us to expand into exciting new markets
such as advanced air mobility, green light aircraft technologies
and next generation healthcare equipment and services. We thank the
government of Canada and the
government of Quebec who will be
partnering with us to open up these new markets for CAE and
Quebec and Canada."
"With advanced air mobility, we are on the cusp of a new era of
aviation," Parent added. "Disruptive aerospace companies are
building cutting edge aircraft and creating a new sector within the
industry from the ground up. We are investing to position CAE to be
one of the leaders in defining this emerging industry, supporting
OEMs with the development, testing and certification of aircraft
programs, simulation equipment and the delivery of training to the
next generation of pilots and maintenance technicians. It
is expected that close to 60,000 uniquely trained professional
pilots will be needed to safely fly passengers and cargo in these
electric Vertical Take-off and Landing vehicles, and CAE has the
expertise to help make it happen."
CAE will harness its unique technological capabilities,
long-standing expertise in supporting airworthiness test programs
as well as its latest innovations in simulation, virtual/mixed
reality (VR/MR) and data analytics to be at the forefront of
disruptive mobility technologies such as eVTOL vehicles.
Through the project, CAE will invest in the development of
electric aircraft technologies and solutions, including
retrofitting its large fleet of light trainer aircraft to reduce
its carbon footprint. CAE announced on Sept
28, 2020 that it became the first Canadian aerospace company
to reach carbon neutrality.
Creating jobs and investing in future talent
CAE will
carry out Project Resilience in Canada, utilizing its R&D laboratories, as
well as its test and integration, and training facilities.
Throughout Project Resilience, CAE will collaborate and co-develop
technology solutions with small and medium companies from across
Canada and will create 700 new
highly skilled jobs at CAE in Canada, including 600 in Quebec. Through this project, CAE will work
with post-secondary institutions, research centres and STEM
institutions and create 5,000 Work Integrated Learning (WIL)
opportunities for students and 100 new scholarship positions.
CAE employs more than 11,000 people globally, with approximately
half of them working in 18 locations across Canada.
The government investments are subject to the finalization of
definitive agreements.
The investments in Project Resilience are in line with CAE's
current pace of R&D investment.
Quotes from today's government announcement regarding
investments in the aerospace industry
"The aerospace sector
is a pillar of the Canadian economy, providing good jobs for
Canadian workers from coast to coast to coast. It's essential that
we support the long-term growth of the sector and help make
Canada a world leader in greener,
more innovative technologies. The investments announced today will
help the aerospace sector increase its research and development
efforts so that innovative, greener, more sustainable aircraft can
be built right here in Canada for
decades to come, creating good jobs for hard-working
Canadians."
– The Honourable François-Philippe
Champagne, Minister of Innovation, Science and Industry of
Canada
"These are major projects that will drive Quebec towards the future! We will design the
helicopters and planes of tomorrow here, in Quebec. These devices will generate wealth,
all while reducing greenhouse gas emissions all over the planet.
The aerospace industry will start up again stronger. Your
government will be there to solidify our status as a leader and to
ensure a bright future for the Quebec aerospace industry."
– Mr. François Legault, Premier of Quebec
About CAE
CAE is a high technology company, at the
leading edge of digital immersion, providing solutions to make the
world a safer place. Backed by a record of more than 70 years of
industry firsts, we continue to reimagine the customer experience
and revolutionize training and operational support solutions in
civil aviation, defence and security, and healthcare. We are the
partner of choice to customers worldwide who operate in complex,
high-stakes and largely regulated environments, where successful
outcomes are critical. As testament to our customers' ongoing needs
for our solutions, over 60 percent of CAE's revenue is recurring in
nature. We have the broadest global presence in our industry, with
more than 11,000 employees, 160 sites, and training locations in
over 35 countries. www.cae.com
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