Key Market Indicators
Canadian weapon imports are projected to decline to approximately $155 million by 2028, down from about $189 million in 2023. This represents a year-on-year compound annual growth rate (CAGR) decline of 3.2%. Since 1965, Canadian demand for weapons has seen a modest increase of 0.6% annually. In 2023, Canada ranked 34th in the world for weapon imports, with Azerbaijan surpassing it at roughly $189 million. The top spots in this ranking were held by Qatar, Saudi Arabia, and Kuwait, occupying the second, third, and fourth positions respectively. On the export side, Canadian weapon exports are forecasted to drop to nearly $135 million by 2028, down from around $144 million in 2023, translating to an average annual decline of 1%. However, Canadian weapon supply has shown a robust growth rate of 4.6% year on year since 1965.
