May 30, 2023
Selection of the Boeing [NYSE: BA] P-8 Poseidon for Canada’s Multi-Mission Aircraft (CMMA) requirement would generate annual benefits of nearly 3,000 jobs and $358 million in economic output to Canada, according to an independent study by economists at Ottawa-based Doyletech Corporation.
Boeing’s current Canadian footprint and annual investment contribute more than CAD $4 billion annually to the Canadian economy, and supports more than 14,000 jobs. The company is committed to deliver industrial and technological benefits on the P-8 program, significantly growing Canada’s aerospace and defense industry.
“We are committed to Canada’s pursuit of peace and prosperity for those we defend and serve, and we are confident the unmatched P-8 capabilities – and our P-8 offering for Canada – reflect those ideals,” said Ted Colbert, president and CEO of Boeing Defense, Space and Security. “In strong collaboration with our Canadian industry P-8 partners and our extensive supply chain in-country, we appreciate the opportunity to build upon our more than 100-year relationship with Canada and grow our Canadian partnerships and investments.”
Boeing has partnered with Canadian companies for more than a century, and currently has over 550 Canadian suppliers across all provinces, including 81 suppliers to the P-8 program. Forming the cornerstone of P-8 partnership is Team Poseidon, consisting of CAE, GE Aviation Canada, IMP Aerospace & Defence, KF Aerospace, Honeywell Aerospace Canada, Raytheon Canada, and Standard Aerospace.
Offering advanced anti-submarine warfare, anti-surface warfare, intelligence, surveillance and reconnaissance, and search and rescue capability, the P-8 is the only in-service, in-production multi-mission aircraft that meets all CMMA requirements. Earlier this year, the Canadian Government announced that it had submitted a Letter of Request through the U.S. government’s Foreign Military Sales program, for the acquisition of up to 16 Boeing P-8A Poseidon aircraft.