Good news for the Canadian aerospace industry. Ottawa will provide the Canadian Space Agency with an additional $397 M over five years for the development of the next generation of radar remote sensing satellites.
That space mission, known as the RADARSAT Constellation, has been underway for five years.
The Space Agency, whose head office is located in Saint-Hubert, intends to add $100 M from its existing resources, with the result that the RADARSTAT research, technology development and construction program will reach $497 M.
Investments that are right on time for the industry.
Investments that could benefit businesses such as MDA, in Montréal, which already operates the RADARSAT-2 satellite and which developed the famous Canadarm.
It should be noted that this investment coincides with the removal of the restrictions on foreign ownership of Canadian satellites.
A situation that, obviously, will likely create or maintain jobs in a sector that greatly needs it. However, the bulk of the spending will occur after 2011 and 2012, when the aerospace industry in general anticipates a recovery.
Source: Martin Jolicoeur . les affaires.com . 04-03-2010