Canada Defence & Security Report 2016 - New Market Study Published

From: Fast Market Research, Inc.
Published: Fri May 13 2016

Canadian defence spending will be modest in 2016 but an improvement on the four consecutive years of negative growth the country has experienced since 2012. However, amid the government's ongoin g fiscal consolidation program and budgetary limitations - not to mention the country's stable security landscape - we note that this forecast is likely to be revised downward . Indeed, d espite the armed forces' requirements to replace ageing systems and renewed commitment towards developing the local industry, the funding available will instead mostly continue to be taken up by personnel and operational expenses amidst the country's ongoing commitment to international peacekeeping missions.

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Over April 1 to 22, Canada's annual a sovereignty operation - Operation NUNALIVUT 2016 - was conducted. The operation exercised Canada's sovereignty over its northernmost regions and demonstrated its Armed Forces' ability to operate in the harsh winter environment in remote areas of the High Arctic.

On April 6 2016, Canada's minister of national defence Harjit Sajjan outlined the structure of the country's upcoming Defence Policy Review wherein a major re-shaping of how the country resources and structures its military forces is expected.

In February 2016, Canada confirmed it plans to modify sanctions against Iran thereby allowing Canadian companies to compete with European counterparts for Iran's business.

The Canadian government announced in March 2016 that major weapon platform acquisitions and modernisation spending will be postponed until 2020.

Defence Industry Risk Reward Index

Demand for defence products in Canada is significant, as the Armed Forces seeks to replace some its ageing equipment amid its growing involvement in international missions. However, funding available for new procurement remains limited and adverse economic conditions continue to hinder the uptick in defence expenditure. We expect the domestic defence industry to continue developing and expanding in coming years, as partnerships with foreign companies in the sector increases as a result of a push by Canadian defence manufacturers to try and increase their sales and military exports. Overall, the country receives a Defence Industry Risk Reward Index score of 56 out of 100. This score ranks Canada in 4th place out of nine developed states.

The Canada Defence & Security Report features BMI Research's independent forecasts for national and international security, the defence industry, military expenditure, employment in arms production, and arms imports and exports, as well as examining industry trends and prospects, national and multinational arms producers and the regulatory environment.

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