- An investment of $350 million to support Canada’s new Initiative for Sustainable Aviation Technology (INSAT) aimed at accelerating the green industrial transformation of the aerospace industry.
Brandon Robinson, CEO, Horizon Aircraft
“We welcome today’s Initiative for Sustainable Aviation Technology (INSAT) announcement from the Honourable François-Philippe Champagne, Canada’s Minister of Innovation, Science and Industry, at the Paris Air Show on sustainable aviation and the important role Canada has to play in this.
“Recent independent research* we commissioned with Canadians reveals 73% support the development of the electric Vertical Take-off and Landing (eVTOL) industry in Canada to support the country’s economy while also helping cut greenhouse gap emissions by reducing traffic congestion.
“The global air taxi and urban air mobility industry is forecast to see revenues grow from $2.3 billion in 2021 to as much as $30.7 billion by 2031, with more than 430,000 air taxis operating worldwide, and given Canada’s geography and landmass, it has major advantages over other countries to become a clear world leader in this fast-growing industry. Today’s announcement will provide further support to helping Canada achieve this.
“eVTOLS and advanced air mobility technology promise to move people and cargo in ways that will make a positive impact on our lives and the environment. The Government of Canada’s backing for this pivotal initiative will enhance our country’s transportation capabilities, foster growth within the domestic supply chain, and bolster the competitiveness of Canadian aerospace suppliers. We are thrilled to see support for ambitious enterprises in pursuit of innovation and the development of sustainable, net-zero aerospace technology, that will show benefits domestically and internationally.
“The advancement of autonomous aircraft technology not only enhances safety measures but also paves the way for unprecedented operational efficiencies. By leveraging advancements in automation and artificial intelligence, we can optimize flight operations and reduce human errors. The incorporation of autonomous flight systems has the potential to revolutionize cost structures, offering air operators and passengers a more affordable and accessible travel experience. This funding announcement marks a significant step towards a future where sustainable, autonomous aircraft play a pivotal role in shaping the aviation industry for the better.”
