CAE will Invest $1 billion in Innovation Over the Next Five Years to Develop Future Aviation Technologies
CAE stated today that it will invest C$1 billion in innovation over the next five years. The investment will go toward Project Resilience, a transformation project aimed at developing tomorrow's technologies, such as digitally immersive solutions based on data ecosystems and artificial intelligence in civil aviation, defense and security, and healthcare. CAE will also be able to position itself as a leader in end-to-end technology, operational support, and training solutions for Advanced Air Mobility and create green light aircraft technologies as a result of the project.
In collaboration with the Government of Canada and Québec, the initiative will enable CAE to play a major role in making air travel safer, preparing defense forces for missions, and assisting medical professionals in saving lives.
The governments of Canada and Québec will invest a total of C$340 million over the next five years (C$190 million for Canada and C$150 million for Québec).
CAE will use its unique technological capabilities, long-standing expertise in supporting airworthiness test programs, latest innovations in simulation, virtual/mixed reality (VR/MR), and data analytics to position itself at the forefront of disruptive mobility technologies eVTOL vehicles.
CAE will invest in developing electric aircraft technology and solutions as part of the initiative, including upgrading its vast fleet of light trainer aircraft to reduce its carbon footprint. On September 28, 2020, CAE announced that it had become the first Canadian aerospace business to achieve carbon neutrality.
Job creation and investment in future talent
CAE will carry out Project Resilience in Canada, using its R&D labs, test and integration facilities, and training facilities. Throughout Project Resilience, CAE will collaborate and co-develop technological solutions with small and medium-sized businesses from throughout Canada, creating 700 new highly skilled jobs in Canada, 600 of which will be in Quebec. In addition, CAE will collaborate with post-secondary institutions, research centers, and STEM institutes to generate 5,000 Work Integrated Learning (WIL) opportunities for students and 100 new scholarship jobs via this initiative.
CAE employs over 11,000 people worldwide, with about half of them located at 18 locations throughout Canada.
The government's investments are subject to the completion of formal agreements.
The investments in Project Resilience are in line with CAE's existing R&D investment pace.
About CAE
CAE is a high-tech company on the leading edge of digital immersion, offering solutions to make the world a safer place. We continue to reinvent the customer experience and revolutionize training and operational support solutions in civil aviation, defense and security, and healthcare, backed by a track record of more than 70 years of industry firsts. We are the preferred partner for clients worldwide that operate in complex, high-stakes, and heavily regulated environments where effective results are essential. Over 60% of CAE's income is recurring, demonstrating our clients' continuing need for our solutions. With more than 11,000 workers, 160 sites, and training locations in over 35 countries, we have the most global footprint in our industry.