Reading time ( words)
CAE 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 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.